STOCKHOLM, Sweden, Dec. 13, 2001 (PRIMEZONE) -- Intentia International AB (publ) (XSSE:INT B) announced that holders of subordinated convertible notes ("the Notes"), equal to 97 percent of the total value of the Notes, have accepted the offer to convert up to 40 percent of the Notes into shares. The offer was oversubscribed, which means that a full 40 percent of the Notes will be converted. Thereby the proposed amendment to the terms of the remaining outstanding Notes will also be approved, as the majority required to approve these changes has been obtained. These amendments mean that the conversion price is reduced to SEK 130 and the maturity date is extended from July 15, 2004 to July 15, 2006. In addition, the Notes are provisionally callable by Intentia at anytime if the stock trades at 108% of the conversion price for 20 business days.
These changes significantly strengthen Intentia's financial position by improving the company's equity-to-total-assets ratio, decreasing net debt including convertible notes and reducing interest costs. On an annual basis, the reduced interest costs correspond to more than SEK 18 million at the current exchange rates.
Based on the balance sheet as of September 30, Intentia's equity-to-total-assets ratio will increase by some 10-percentage points to approximately 23 percent. As a result of the conversion, the value of the Notes will be reduced from SEK 974 million to SEK 584 million.
About Intentia
Intentia is one of the world's leading suppliers of collaboration solutions. Our vision is to become the leading global collaboration solutions vendor by supplying our customers with tomorrow's solutions today. Intentia offers a one-stop shop for all collaboration needs within numerous industry segments. We develop, implement and maintain our own solutions to produce the highest possible level of customer satisfaction. The Intentia Solution consists of applications covering customer relationship management (CRM), enterprise management (ENM), supply chain management (SCM), business performance measurement (BPM), e-business and value chain collaboration (VCC). Intentia has more than 3,200 employees and serves over 3,400 customers in the manufacturing, maintenance and distribution industries via a global network spanning some 40 countries. Intentia is a public company traded on the Stockholm Stock Exchange (XSSE) under the symbol INT B.
Visit Intentia's Web site at http://www.intentia.com