Poolia transfers SEK 137.0 million to its shareholders through share redemption

Poolia transfers SEK 137.0 million to its shareholders through share redemption The application period for Poolia's share redemption offer expired on June 24, 2003. The offer entitled the shareholders to redeem every fifth share for a cash payment of SEK 30 per share. According to the final count, applications were received for redemption of 4,565,744 shares. This corresponds to approximately 99.3 per cent of the maximum number of shares that could be redeemed pursuant to the offer. After completion of this transaction, total outstanding shares in Poolia will be 18,433,420. Through the redemption of shares approximately SEK 137.0 million will be transferred to the shareholders. This is slightly more than one third of Poolia's current liquid funds which as of March 31, 2003 amounted to approximately SEK 380.8 million. Adjusted for the redemption proceeds Poolia's liquid funds, as of March 31, 2003, would have amounted to approximately SEK 243.8 million which would correspond to an equity/assets ratio of approximately 69.1 percent. Remaining liquid funds are estimated to be sufficient to guarantee a continued expansion, both organic and through supplementary acquisitions in accordance with Poolia's strategy. The offer to redeem shares has created an increased shareholder value as shareholders have received direct access to a part of Poolia's excess funds. In order to effect the payment, the decrease of Poolia's share capital and share premium reserve must be resolved at the general meeting on July 3, 2003, be registered with the Swedish Patent and Registration Office and be approved by the District Court after legal notice. The date of payment for the redeemed shares is, therefore, dependent on, amongst other things, the administration time required by the court. Poolia does however estimate that payment for the redemption of shares can take place at the end of October 2003. Shareholders who are participating in the redemption offer and who applied for that shares shall be redeemed, will, at or around mid July, 2003 receive one so called redemption share for each share tendered in the redemption offer. Trading in redemption shares on Stockholmsbörsen is estimated to progress during the period July 14, 2003 to approximately one week before the redemption proceed is paid. Enskilda Securities is financial advisor to Poolia. For more information please contact: Kjell Åke Jägenstedt, Chief Financial Officer, Tel: +46-8-555 650 09 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/06/26/20030626BIT00860/wkr0001.doc http://www.waymaker.net/bitonline/2003/06/26/20030626BIT00860/wkr0002.pdf