AB Novestra annual general meeting

AB NOVESTRA ANNUAL GENERAL MEETING At yesterday's Annual General Meeting in AB Novestra, Board members Theodor Dalenson, Peter Ekelund, Anders Lönnqvist, W. Thorpe McKenzie, Göran Strandberg, Lennart Tengroth and John Wattin were re-elected. At the constituent Board meeting following the Annual General Meeting, Theodor Dalenson was appointed Chairman. According to a proposal by the Board, it was further decided to authorise the Board to issue a maximum of 6,000,000 new shares. The purpose of the authorisation is to be able to quickly conclude interesting transactions, if needed. The previous authorisation to issue 9,500,000 new shares, which was decided in March 2000 and which has not been utilised, was valid up to the Annual General Meeting and has consequently lapsed. It was also decided that no dividend be declared for the financial year 1999/2000. President and COO Thomas Åkerman said in his address to the Annual General Meeting that lately Novestra has seen a generally positive business development in most of its portfolio companies. Since the year-end June 30, 2000, and in accordance with the guidelines stipulated by EVCA, the surplus value of the portfolio companies in relation to the book value has increased by SEK 250 million. The combination of Novestra's balanced portfolio and the company's advantageous liquidity situation has created a situation where Novestra's business opportunities are better than ever before. The changed market situation over the past two months has only marginally affected Novestra and the company still counts on a very strong development in value of its portfolio in the following quarters. For further information please contact Thomas Åkerman, President, AB Novestra, phone No. +46 8 545 017 50. For more information regarding Novestra, please see www.novestra.com. Novestra is one of the leading venture capital investment firms in the Nordic countries, primarily with a focus on companies providing enabling services to the network economy. Novestra's portfolio of companies includes B2 Bredband AB, Comintell AB, Continuum Group Ltd, Fanglobe Inc, Iquity Systems Inc, Mobilestop Inc, Netsurvey AB, PowerNet AB and Qbranch AB. Novestra's shares are listed on the O-List of the OM Stockholm Exchange. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/10/06/20001006BIT00260/bit0001.doc http://www.bit.se/bitonline/2000/10/06/20001006BIT00260/bit0002.pdf