Annual General Meeting of Q-Med AB (publ)
ANNUAL GENERAL MEETING OF Q-MED AB (publ) * Göran Carstedt was elected to the Board * No dividend * Bonus issue approved The Annual General Meeting of Q-Med AB (publ) took place at Eklundshof in Uppsala on May 10, at 5.30 p.m. All decisions that were made were unanimous and in line with the Board's proposals. Board and fee Robert Wikholm, Tomas Billing, Anders Milton, Björn Odlander and Bengt Ågerup were re-elected as members of the Board. Göran Carstedt was elected as a new member of the Board while the former Board member Ugo Grondelli had declined re-election. Göran Carstedt, born in 1946, has a Ph.D. in Economics and has worked for many years in management positions in Volvo and IKEA, amongst other things as President for Volvo Svenska Bil AB and IKEA North America. Today he is working freelance with a number of Swedish and international companies and organizations. He is also a member of a number of Swedish and foreign Boards. The Board decided that a Board fee of SEK 300,000 would be paid for 2000, to be divided among the members of the Board who are not employed by the company. At the Board meeting following election after the general meeting of the shareholders Robert Wikholm was elected as Chairman of the Board. Disposition of earnings In accordance with the Board's proposal the meeting decided that no dividend would be paid for the financial year 1999. Bonus issue In accordance with the Board's proposal the meeting approved a bonus issue which entails the company's share capital being increased from SEK 1,701,822.50 to SEK 24,311,750 through the transfer of SEK 22,609,927.50 from the share premium reserve. The increase in the share capital will be carried out by changing the par value of each existing share from SEK 0.07 to SEK 1. The Articles of Association § 4 will be changed so that the share capital will constitute at least SEK 20,000,000 and at most SEK 80,000,000. Furthermore, the Articles of Association § 5 will be changed so that the par value of each share is SEK 1. Options programme In accordance with a press release issued on May 4, 2000 the Board decided to withdraw its previous proposal concerning an options programme aimed at the personnel, due to the fact that the final valuation of the created options would lead to an unreasonable risk. Auditors The auditors are the same as those elected by the general meeting of the shareholders of 1999, the authorized public accountants Hans Karlsson and Lennart Jakobsson, both from KPMG Bohlins. Addresses held at the meeting At the meeting addresses were held by the President Per Olof Wallström and Q-Med's founder Bengt Ågerup. An account of these addresses will be issued as a separate press release. May 11, 2000 Uppsala, Sweden Q-Med AB (publ) Per Olof Wallström President and CEO Queries should be addressed to Per Olof Wallström, President and CEO, on +46(0)18-474 90 00 or +46(0)70-974 90 70. Q-Med AB (publ), Seminariegatan 21, SE-752 28 Uppsala, Sweden. Corporate identity number 556258-6882. Tel: +46(0)18-474 90 00. Fax: +46(0)18-474 90 01. E-mail: info@q-med.com. Home page: www.q-med.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/05/11/20000511BIT00090/bit0001.doc http://www.bit.se/bitonline/2000/05/11/20000511BIT00090/bit0002.pdf