Changing of voting rights, bonus issue in Skandia
Elimination of voting-rights restriction and bonus issue in Skandia Skandia's Board of Directors today decided to propose to the Annual General Meeting on 5 April 2000 that the remaining voting rights restriction in Skandia's Articles of Association be eliminated. The voting rights restriction entails that no one - for own shares or by proxy for other shares - may vote for a combined total of more than 10 per cent of the shares represented at a shareholders meeting. The proposal entails a repeal of the first paragraph of Article 16 in the Articles of Association. Since all of Skandia's shares are issued in a single class with one vote per share, the Board's proposal entails that all shareholders will be able to vote for the full number of shares held. The Board also decided today to propose to the Annual General Meeting on 5 April 2000 to carry out a 1:1 bonus issue (stock dividend) of shares, entailing the issuance of one new share for each existing share held, through a reduction of the statutory reserve. The proposed record date for the shares issued through the bonus issue is 18 May 2000. If the Meeting votes in favour of the proposal, it entails that the number of shares in Skandia will increase to 1,023,542,520. For further information, please contact: Birgitta Hammarström, Press Manager, Skandia, tel. +46-8-788 2755, +46-70-378 2755 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/03/07/20000307BIT00780/bit0001.doc http://www.bit.se/bitonline/2000/03/07/20000307BIT00780/bit0002.pdf