Decisions taken at extraordinary general meeting of ReadSoft on November 12

Decisions taken at extraordinary general meeting of ReadSoft on November 12 Following a financing agreement announced previously between ReadSoft AB and Hagströmer & Qviberg Fondkommission AB, an extraordinary general meeting of ReadSoft AB took the following decisions today. The general meeting approved the Board's decision to issue notes associated with detachable warrants. The general meeting also authorized the Board to make decisions on further issues. The financing agreement with Hagströmer & Qviberg allows ReadSoft to issue stock or convertible notes to a total value of SEK 50 million. An extraordinary general meeting today decided to approve the Board's decision on October 25, 2001 to issue a note with a nominal value of SEK 100 that is associated with 425,000 warrants to subscribe for new Series B stock. Each warrant provides the right to subscribe for one new share in ReadSoft with a nominal value of SEK 0.10. The note, which earns five percent interest annually, was issued at the nominal amount and subscribed by H&Q in deviation from the preferential right of shareholders. The application to subscribe for shares may be made in the period from and including the date of registration of the issue with the Swedish Patent and Registration Office up to and including three years from this date. The subscription price per share will be 110 percent of the arithmetic mean of the volume-weighted average prices for ReadSoft's Series B stock on the Stockholm Exchange during the three days' trading immediately following the announcement of the financing agreement. The general meeting also authorized the Board to decide, on one or more occasions in the period up to the next ordinary general meeting, on the issue of new Series B stock with each share having a nominal value of SEK 0.10, on the issue of convertible notes and on the issue of notes associated with warrants to subscribe for new Series B stock. Such issues may take place with or without preferential rights for shareholders. Utilization of this authorization could increase ReadSoft's capital stock by a maximum of SEK 600,000. The proposed authorization rescinds the Board's earlier authorization to issue stock. The new shares, convertible notes and notes associated with warrants to subscribe for new stock are to be issued on market terms. Among the reasons for the Board being permitted to deviate from the preferential right of shareholders is the fact that ReadSoft needs to be able to utilize its rights under the agreement with Hagströmer & Qviberg, and that ReadSoft may need injections of extra capital in order to finance its development. For more information, please contact: ReadSoft AB Jan Andersson, MD ReadSoft, Pho: +46-(0)708 - 37 66 00 or Olof Engvall, Head of Information Pho: +46-(0)708 - 37 66 70 E-mail: olof.engvall@readsoft.com www.readsoft.com ReadSoft is the market leader in the development and sales of software for automatic data capture, which is software that automatically registers and interprets data on forms and invoices in paper or electronic format. Since its establishment in 1991,ReadSoft has evolved into a global corporation with thirteen subsidiaries in Sweden, Norway, Denmark, Germany, France, Spain, Italy, The UK, The US, Mexico, Chile, Brazil and Australia. The annual growth, for the last five years, has been approximately 70%. In 2000 the turnover was 31 MUSD. In early May the Swedish business magazine Veckans Affärer awarded ReadSoft the title "IT-Company of the year 2001. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/11/12/20011112BIT00430/bit0001.doc http://www.waymaker.net/bitonline/2001/11/12/20011112BIT00430/bit0001.pdf