PRESS RELEASE FROM EXTRAORDINARY GENERAL MEETING IN SCANDINAVIAN CLINICAL NUTRITION I SVERIGE AB (PUBL)
(NGM:SCN)
Today, May 20, 2009, an Extraordinary General Meeting in Scandinavian Clinical Nutrition AB (SCN) decided to apply for de-listing of the Company’s shares from the Norwegian Oslo Axess list. The listing on the Swedish NGM Equity list however remains unchanged.
The Board’s motives for the proposal were in short the following:
• the trade in the Company’s shares on Oslo Axess has been very limited
• the spread of the shares in Norway is very limited
• a double stock exchange listing requires significant resources, both in terms of costs and workload
• the Company has its domicile and headquarters in Stockholm and its home state in Sweden
• the majority of the shareholders and other interested parties in the Company are Swedish
• the main part of the trade in the share takes place on NGM Equity
• since the listing on NGM is proposed to remain, the interests of minority shareholders will still be accommodated
With the above in mind, the Board cannot defend that a company of SCN’s size carries the costs for a double stock exchange listing, and therefore proposed the EGM to authorize the Board to apply for de-listing of the Company’s shares from Oslo Axess, and to take the measures necessary to carry this out. The EGM decided in accordance with the Board’s proposal.
For more information, please contact:
Ulf Söderberg, CEO, us@scnutrition.com, +46 708 13 22 81
Jörn Erik Aas, Chairman of the Board, jea@scnutrition.com, +47 924 99 360
Scandinavian Clinical Nutrition i Sverige AB (publ)) works in R&D and distribution of clinically tested, scientifically documented products within the field of nutrition (nutraceuticals). Established in 2006, SCN maintains a product portfolio with established trademarks, such as CUUR, Coldizin, Immulina, Membra7 and Ledactin. Core competence and strategic alliances, within both R&D and sales, in combination with innovative and clinically proven products, create good conditions for profitable growth both in Sweden and internationally. The shares of SCN are traded under the ticker “SCN” on Oslo Axess (www.osloaxess.no) and NGM Equity (www.ngm.se).For more information, please visit www.scnutrition.com.