New Wave Group's rights offering significantly over-subscribed
New Wave Group's rights offering significantly over-subscribed The interest for New Wave Group's rights offering of approximately 151 MSEK (before reduction for issue-costs), has been great, whereby the rights offering has been significantly over-subscribed. About 98 per cent of the new B-shares offered have been subscribed for by the exercise of rights and approximately 91 per cent of the total rights offering have been applied for on a non-preferential basis. The Board of New Wave Group has today decided on the allocation of the shares, which have not been subscribed by shareholders exercising preferential rights, where they who have subscribed by exercising their preferential rights have been considered first-hand. Notice on the allocation of the shares subscribed without preferential right will be given by means of issuance of contract note, which is estimated to be executed on 1 June 2004. Once the payments for the shares have been registered, the shares will be transferred to the accounts of the shareholders at the earliest possible date. The rights offering increases the number of shares from 14,500,208 to 15,660,224 shares, whereof the number of series B shares amounts to 10,123,304 shares. The new shares are estimated to be subject to trading on the Stockholm Stock Exchange's O list from 18 June 2004. "The successful implementation of the rights offering shows a strong support from our shareholders and in their faith in New Wave Group and the growth philosophy which we work under" says Göran Härstedt, deputy CEO of New Wave Group. Furthermore, Göran Härstedt says " New Wave has a strong position within both the business areas Promo and Retail, and we are still taking market shares within both areas. Through the strengthened financial position which we acquire through the rights offering the positive effects of the Jobman acquisition in form of establishments outside Sweden can be increased, which makes room for a positive sales- and profit growth within work wear during the next few years, whereby however these establishments will have a negative effect on the result the first and possibly the second year." Ytterby on 28 May 2004 New Wave Group AB (publ) Göran Härstedt For more information, please contact: Torsten Jansson CEO New Wave Group Tele: +46 708 998050, +46 303 246501 E-mail: torsten.jansson@nwg.se Göran Härstedt dCEO New Wave Group Tele: +46 708 998017, +46 303 246502 E-mail: goran.harstedt@nwg.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/2004/05/28/20040528BIT00400/wkr0001.pdf