Annual General Meeting of Sectra AB
Annual General Meeting of Sectra AB: "Sectra's highest earnings ever" "Our international focus has resulted in increased sales in markets outside Sweden. Sectra has expanded with favorable profitability and we can report our highest earnings ever," said Jan-Olof Brüer, President and CEO of Sectra AB, in his address to the Meeting today, which was attended by approximately 120 shareholders. At the Annual General Meeting, the Board of Directors' proposal to distribute a dividend of SEK 0.50 per share, or a total of SEK 16,538,255.50 to the shareholders was approved. Thomas Ericson, Gündor Rentsch, Carl-Erik Ridderstråle, Torbjörn Kronander and Jan-Olof Brüer were re-elected members of the Board of Directors. The Meeting also resolved to appoint the Lindebergs Grant Thornton AB auditing firm as the company's auditor for a mandate period of four years. The Meeting authorized the Board of Directors to approve, on one or several occasions during the period until the next Annual General Meeting, the issue of not more than 3,300,000 series B shares, representing an increase of not more than SEK 3,300,000 in the share capital of the company. The purpose of the authorisation is to facilitate the utilisation of newly issued shares in connection with the implementation, or for the financing, of acquisitions of companies or businesses or parts thereof and in connection with market investments. If the authorization is fully exercised, the share capital will be diluted by approximately 10% and the voting rights by approximately 6%. The Meeting also approved the proposal to issue convertible debentures in a total maximum amount of SEK 30 million, to be directed to Group employees and SEK 3 million to external elected members of the Board of Directors. The conversion rate shall correspond to 135% of the volume- weighted average of the price paid for the company's shares on the O- list of Stockholmsbörsen during the period from August 18, 2003 to and includingAugust 29, 2003. Assuming full subscription and full conversion of the debentures, the share capital will be diluted by approximately 1.0% and the voting rights by approximately 0.6%. The Meeting also approved the Board of Directors' proposal to issue a maximum of 80,000 additional stock options for Group personnel in the US. Assuming full exercise of the stock options, employees will acquire shares in the company corresponding to approximately 0.2% of the share capital and 0.1% of the voting rights. For further information, please contact: Sectra AB, Dr. Jan-Olof Brüer, President and CEO, +46 13 23 52 09, job@sectra.se Visit Sectras website http://www.sectra.com About Sectra Sectra has its roots in Linköping Technical University and is one of Sweden's fastest growing high-tech companies in the IT area. Since the mid-1980s, Sectra has successfully conducted development and sales of high-technology medical IT and telecommunications products. Today, the business includes products in medical systems, secure communication systems and wireless information systems. Business is conducted in eight countries with a total of 274 employees. Sales for the fiscal year May 2002-April 2003 reached SEK 503 million. Since March 1999, Sectra's shares have been quoted on the O list of the Stockholm Exchange. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/06/26/20030626BIT00640/wkr0001.doc http://www.waymaker.net/bitonline/2003/06/26/20030626BIT00640/wkr0002.pdf