Resco's annual general meeting

Resco's annual general meeting The following decisions were taken at the annual general meeting of Resco AB (public company) held on 7 May 2001: Proposal concerning a new issue The annual general meeting decided to issue a debenture (inscribed debenture loan) of SEK 100,000 with detachable warrants for the new issue of no more than 1,000,000 B shares in Resco AB (public company). The debenture is to be issued for a nominal amount, bear interest at an annual rate of 4.5 percent, mature on 31 December 2001 as well as being subscribed and paid for no later than 29 May 2001. As a departure from the shareholders' preferential right, the right to sign the debenture is only held by Resco AB's wholly owned subsidiary, Resco Utbildning AB, with the right and obligation for the subsidiary to sell warrants under market conditions to employees within the Resco group and members of the Board of Resco AB (public company). Warrants give the right to take up a new subscription during the period from 2 to 30 May 2003 by cash payment. The share capital will be able to be increased by a maximum of SEK 500,000. The subscription price for newly issued B shares will be 125 percent of that for B-series shares in the company at the average price paid for shares (as quoted on OM Stockholm Stock Exchange's official list) during the period from 7 to 21 May 2001, but no lower than SEK 10. All the employees are guaranteed warrants with the right to subscribe to 1,000 shares. If fully exploited the proposed issue involves a dilution of about 3.5% of the share capital and about 2% of the votes. Authorisation of the new issue The annual general meeting decided that it would authorise the Board, as a departure from the shareholders' preferential right and on one or more occasions, to decide concerning an issue or new issue of convertible debentures or debentures associated with option rights to a new subscription. The shares and the debentures will be able to be subscribed to by payment with assets other than cash. The authorisation is to cover a maximum of 4,000,000 B-series shares and is to be valid for a period not extending beyond the next annual general meeting. The issues supported by the authorisation are to be used for financing and acquisitions subject to market conditions. If fully exploited the proposed authorisation involves a dilution of about 12.7% of the share capital and about 7.5% of the votes. The board The meeting decided to elect Paul Hökfelt to the board as a new member. The meeting also decided to re-elect Jan-Olof Engström, Barbara Ericsson, Kjell Jacobsson, Johan Mathson, Johan Siwers and Mikael Öhlund with Stefan Lindell as deputy member. Deputy auditors Håkan Sten and Peter Strandh were elected as deputy auditors. Dividend It was decided at the meeting that no dividend would be paid for the financial year 2000. For more information please contact: Kjell Jacobsson, acting CEO and the Chairman of the Board, telephone +46 (0)708 - 90 30 50 or via Resco's switchboard +46 (0)8 - 519 030 00. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/08/20010514BIT00550/bit0002.doc http://www.bit.se/bitonline/2001/05/08/20010514BIT00550/bit0002.pdf