Wallenstam - General Meeting

Wallenstam - General Meeting Notice convening an Extraordinary General Meeting to be held at 5 p.m. on Monday, 24 January, 2000, in Wallenstam's premises at Södra Vägen 1, Gothenburg, Sweden, is hereby given to the shareholders of Lennart Wallenstam Byggnads AB (publ). We will be open for registration from 4 p.m. at which time coffee will be served. Notification Shareholders who wish to participate in the negotiations at the Meeting must both be included in the register of shareholders maintained by the Swedish Securities Register Centre (Värdepapperscentralen VPC AB) on Friday, 14 January, 2000, and notify the Company of their intention by no later than 4 p.m. Thursday, 19 January, 2000. Notification may be made in writing to Sofia Åstenius at Lennart Wallenstam Byggnads AB, Box 53257, SE 400 16 Gothenburg, Sweden, or by phone (+46-31 200 000) or fax (+46-31 100 200) and should include the shareholder's name, number of shares held, address and telephone number. Shareholders whose shares have been registered in the name of a trustee by either the trust department of a bank or a private broker must temporarily reregister their shares in their own name to be entitled to vote at the Meeting. Such registration must be completed at Värdepapperscentralen VPC AB no later than Friday, 14 January, 2000, which means that the shareholders must inform their trustees in good time before this date. Agenda 1. The Meeting is opened by the Chairman of the Board. 2. Election of a chairman for the meeting. 3. Notification of the Board's choice of secretary. 4. Drawing up and approval of the list of voters. 5. Approval of the agenda. 6. Election of two minute-checkers to check the minutes together with the Chairman. 7. Corroboration that the annual general meeting has been properly convened. 8. Managing Director's statement. 9. The Board's proposal that the company's share capital be reduced by redeeming 9 396 690 SEK, of which 0 are Series A shares and 939 669 are Series B shares, each with a par value of SEK 10. In addition, the Board proposes that Wallenstam's reserve fund be reduced by a maximum of SEK 79 871 865. The purpose of the reduction in the share capital and the reserve fund, respectively, shall be repayment to the shareholders of SEK 95 in cash for each Series A and Series B share in Wallenstam redeemed. On condition that the terms of the redemption offer are satisfied, payment of the redemption amount is estimated to take place in about May, 2000. Pending the district court's decision to grant the necessary permit for the reduction in the company's share capital and reserve fund, the redemption shares will be traded on the Stockholm Stock Exchange from the beginning of February, 2000, to about May, 2000. The Board's proposal to decide in favour of reducing the share capital and the reserve fund is contingent and conditional on the district court granting the necessary permit and on the Swedish Patent and Registration Office registering the district court's decision. 10. The Meeting is closed. From Friday, 14 January, 2000, the Board's complete proposal to decide in favour of share redemption, together with documents in accordance with § 4 Ch. 4 of the Companies Act, will be available at the company's head office, Södra Vägen 1, Gothenburg, Sweden, and will be sent to shareholders on request. Gothenburg, January, 2000 Lennart Wallenstam Byggnads AB (publ) The Board of Directors For further information, please contact Thomas Dahl, Director of Marketing and Information, phone +46 (0)31 200 000 or +46 705 171 142. Wallenstam was founded in 1944 in Gothenburg and is one of Sweden's major dedicated property companies with more than 300 properties in the three major urban areas Gothenburg, Stockholm and Helsingborg. Residential properties represent about 65% of the total floor space. The maintaining part is commercial property, primarly located in Gothenburg. The company's series B-shares have been publicly listed at the Stockholm Stock Exchange since 1984. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/07/20000107BIT00020/bit0001.doc http://www.bit.se/bitonline/2000/01/07/20000107BIT00020/bit0002.pdf