Pricer secures financing

Pricer secures financing · NEW SHARE ISSUE WITH RIGHT OF PREFERENCE FOR THE COMPANY´S SHAREHOLDERS WILL RAISE SEK 109.7M (ON FULL SUBSCRIPTION) · 60 PER CENT OF THE ISSUE IS GUARANTEED · EXTRAORDINARY GENERAL MEETING ON 28 FEBRUARY 2002 · NEWLY ISSUED WARRANTS COULD CONTRIBUTE AN ADDITIONAL SEK 45.3M (IF FULLY EXERCISED) Pricer implements rights issue On 7 February 2002, the Board of Directors of Pricer AB (Pricer) made a decision to implement an issue of series B shares with a right of preference for the company's shareholders. The issue is subject to the approval of the Extraordinary General Meeting on 28 February 2002. If the issue is fully subscribed, Pricer will raise SEK 109.7M before issue and guarantee costs. The issue involves an increase of the share capital of not more than SEK 9.549.359:40 through an issue of not more than 95.423.594 series B shares in the company. Pledges to subscribe with the support of right of preference and guarantees have been obtained which means that 60 per cent of the issue is guaranteed. Summarised terms and conditions Every full five (5) series A or B shares give the right to subscribe for two (2) new series B shares. The issue price is SEK 1.15 per share. One (1) warrant is received for every four (4) newly subscribed series B shares. One (1) warrant entitles the subscription of one (1) new series B share during the period 15 September 2003 - 17 October 2003. The subscription price on exercising warrants is SEK 1.90 per share. Background The objective of the issue is to achieve long-term financial stability and thus create conditions for establishing Pricer as a profitable company in the international market for price and information systems. The issue provides Pricer with the financial foundation to implement the aggressive action programme which was initiated in November 2001 and which is aimed at restructuring and making operations more efficient among other things. The objective of the action programme is to adapt operations more specifically to market and customer needs. It covers both revenue and cost measures aimed at creating conditions for future growth and profitability. VergetTTT femtal aktier av serie A eller B ger rätt till Subscription pledges and guarantees Some of the company's shareholders - Salvatore Grimaldi (via companies) and Purpose AB - have pledged to subscribe for their share of the issue, equivalent to approximately 7 per cent. They have also guaranteed that they will subscribe for additional shares. 60 per cent of the rights issue is guaranteed through issued subscription pledges and guarantees and at least SEK 65.8M will be contributed to the company. Time table for the issue · Extraordinary General Meeting: 28 February 2002 · Last day for trading the share including right to participate in the issue: 4 March 2002 · First day for trading the share excluding right to participate in the issue: 5 March 2002 · Record day for preferential right: 7 March 2002 · The Offering Memorandum published: 8 March 2002 · Trading in warrants: 13 - 21 March 2002 · Subscription period: 13 - 26 March 2002 · Subscription of shares will be made through simultaneous cash payment during the subscription period. · Bankaktiebolaget JP Nordiska is the financial adviser to Pricer for the issue. For further information, please contact: Göran Lindén, Chairman of the board or Jan Forssjö, President and CEO, Pricer AB +46 18 188 100 Pricer AB (publ) was founded in 1991 in Uppsala and has built a leading position in the world market as a supplier of electronic display and information systems to the retail industry. Pricer offers electronic information systems intended to improve significantly customer benefit and improve retail profitability. Through Pricer´s co-operation with highly competent partners, customers are offered a totally integrated solution together with the supplementary products, applications and services offered by our partners. The Pricer share is quoted on the O- list of Stockholm Exchange. For further information, please visit Pricer´s website www.pricer.se . Registration to receive news releases automatically via e-mail can be made through the website. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/02/07/20020207BIT01260/bit0001.doc http://www.waymaker.net/bitonline/2002/02/07/20020207BIT01260/bit0001.pdf