Extraordinary general meeting of JM: Retirement of shares and election of new board member

Extraordinary general meeting of JM: Retirement of shares and election of new board member The extraordinary general meeting of JM held today 17 October 2001 decided to cancel the 3,324,100 shares repurchased by JM during the current year (corresponding to 10 per cent of the total number of shares in the company) through retirement, in accordance with the board's proposal. The object of the retirement is to create opportunities for redistribution of capital through additional share buy-backs in connection with ongoing property sales. When the retirement is completed, which is expected to take place in mid- November, JM will no longer hold any of its own shares. This will create scope for further share buy-backs as approved by the annual general meeting in April this year, whereby the Board was authorized to repurchase shares to the extent that JM holds no more than 10 per cent of all shares in the company at any given time. As part of the retirement of the repurchased shares and in order to expedite the administrative process, the meeting voted to carry out a directed issue of 3,324,100 redeemable shares of a new class C to Handelsbanken, to be subscribed for in a nominal amount of SEK 13,296,400. It was decided that these shares will be redeemed for an essentially corresponding amount. "Retirement of the repurchased shares would enable the Board to follow up future property sales with a redistribution capital through share buy- backs as a means for maintaining a suitable capital structure for the company", says JM's President and CEO Carl Eric Stålberg. Lennart Sundén new member of JM board The meeting elected Lennart Sundén as a new member of JM's board of directors. Lennart Sundén is Managing Director and CEO of Swedish Match AB and a member of the boards of Föreningssparbanken AB and Arnold André GmbH & Co. KG. For additional information contact Chief Financial Officer Claes Magnus Åkesson, telephone +46 8 782 89 71. Stockholm, 17 October 2001 JM AB Group Staff Communications This and earlier press releases are also available at www.jm.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/08/18/20030818BIT01570/wkr0001.doc http://www.waymaker.net/bitonline/2003/08/18/20030818BIT01570/wkr0002.pdf