Comments from Board of Directors
With reference to Drott's public offer for Näckebro made on 8 September, Näckebro's Board of Directors has the following comments: "Drott obviously shares Näckebro's view that a merger between the two companies is an industrially correct deal which will create a strong company in the Swedish property market. With regard to Drott's cash offer of SEK 126 for each Näckebro share, market analyses indicate a substantially higher value. Furthermore, Näckebro's interim report dated 13 August 1998 shows that visible shareholders' equity amounts to SEK 153 per share. Näckebro's Board of Directors will evaluate Drott's offer on the basis of shareholders' interests and will engage leading external expertise to make a valuation of Näckebro. We expressly recommend Näckebro's shareholders to await the Board's evaluation of Drott's offer." Following last week's acquisition on a forward deal of shares in Drott, corresponding to 44.6 per cent of the voting rights, Näckebro is the largest shareholder in Drott in terms of voting rights. For further information, please contact Jan Blomberg, Chairman of the Board of Näckebro, tel +46 652 220 90, +46 70 659 82 98 Lennart Schönning, Chief Executive of Näckebro, tel +46 8 412 19 01, +46 70 645 02 50