Tele1 Europe Holding AB's AGM decides to change company name to Song Networks Holding AB
Tele1 Europe Holding AB's AGM decides to change company name to Song Networks Holding AB At Tele1 Europe Holding AB's (NASDAQ: TEUR, Stockholm Stock Exchange: TEUR) AGM today, the shareholders decided, in line with the board's proposal, to change the name of the company to Song Networks Holding AB and for this reason adopt new articles of association. In addition the following decisions were taken: Authorization for the board to decide upon new issue The AGM decided, in line with the board's proposal, to authorize the board to decide, on one or more occasions, during the period until the next annual general meeting, upon the new issue of a maximum 10,000,000 shares, each share having a nominal value of SEK 0.05, meaning a maximum increase of the company's share capital of SEK 500,000. Shares may be issued in connection with possible acquisitions of companies, or businesses, where payment is made by delivery of shares in the company, by a cash issue with deviation from shareholders' preferential rights, or by an issue in kind or an off-set issue. The price for each share shall in all cases be as close to the market value of the shares as possible with deduction for any discounts necessary to attract sufficient interest for subscription. Adoption of annual report etc. The AGM adopted the annual report including the income statement and the balance sheet as well as the consolidated income statement and the consolidated balance sheet for the 2000 financial year. It further agreed, in line with the board's proposal, that the accumulated deficit of SEK 53 542 527 should be carried forward. The board and CEO were discharged from liability for the 2000 financial year. Election of board members etc. The AGM re-elected the current board of Tommy Ekström, Lars Grönberg, Lennart Lübeck, Paul J. Salem, Viesturs Vucins, Lars Windfeldt and D. Craig Young. It further decided that the fees to the board should comprise SEK 300,000 to the Chairman of the board and SEK 125,000 to other members of the board not employed by the company. Auditors' remuneration shall be according to approved invoice. Further information, please contact: Tele1 Europe Holding AB Ulrika Grauers Kullberg, Legal Co-ordinator Phone: +46 8 56 31 0305 Mobile: +46 701 810 305 E-mail: ulrika.kullberg@tele1europe.se About Tele1 Europe (NASDAQ: TEUR, OM Stockholm Stock Exchange: TEUR) Tele1 Europe is a rapidly expanding data, internet and telecommunications operator with activities in Sweden, Denmark, Finland and Norway. The company provides broadband solutions for data, internet and voice, to large and mid-range businesses in the Nordic region. Tele1 Europe is currently the only pan Nordic data, internet and telecommunications operator investing in local access networks with broadband capacity. The company is constructing networks in the 80 largest cities in the Nordic region. The access networks, which are linked by a long-distance network, will be one of Europe's fastest data and internet super-highways with an initial capacity for customers of up to one gigabit. The company was founded in 1995 and has around 1000 employees. The head office is in Stockholm and there are an additional 24 offices located in the Nordic region. For further information: www.tele1europe.com ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/16/20010516BIT01270/bit0002.doc http://www.bit.se/bitonline/2001/05/16/20010516BIT01270/bit0002.pdf