Resolutions adopted at SSAB’s Extraordinary General Meeting, 10 July 2007

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At SSAB Swedish Steel’s Extraordinary General Meeting, held in Stockholm on Tuesday, the following resolutions were adopted:

The articles of association

The General Meeting resolved to alter section 5, first three sentences of the articles of association, to be worded as follows: "There shall be not less than 100,000,000 shares and not more than 400,000,000 shares. The shares may be issued in two classes, designated Class A and Class B. Not more than 400,000,000 Class A shares may be issued and not more than 125,000,000 Class B shares may be issued".


Authorisation for the Board of Directors to resolve on new issues with pre-emption rights for existing shareholders

The General Meeting resolved to authorise the Board of Directors, during the period until December 31st, 2007, to decide on one or more issues of new shares within the limits set forth in the articles of association, subject to the prior approval by the shareholders of IPSCO Inc. at its Special Meeting of SSAB’s acquisition of IPSCO Inc. The company's shareholders shall thereupon have pre-emption rights to subscribe for the new shares, whereupon old shares of a particular class shall carry entitlement to subscribe for new shares of the same class. Shares subscribed for shall be allotted in accordance with the articles of association.
The size of any proposed rights issue or rights issues shall, in total, amount to approximately SEK 10,000 million. The issue price and the subscription ratio shall be decided upon consultation with the company's financial advisors in order to establish an appropriate issue price and subscription ratio.

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