STOCKHOLM, Sweden, June 19, 2002 (PRIMEZONE) -- At the annual general meeting in New Wave Group AB today, the following was decided, among other things:
- Dividend to the shareholders of SEK 3 per share with 25 June 2002
as record date.
- Re-election of Hakan Thylen, Torsten Jansson, Lennart Bohlin and
Hans Johansson as board members.
- Reduction of the shares par value from SEK 1 to SEK 0.50 (Split
2:1) with 1 August 2002 as record date, meaning that 30 July 2002
will be the first trading day applying the new par value
- Authorization of the board to make a new issue of up to 1,500,000
shares of class B in the company with a par nominal value of SEK
0.50, with or without shareholders subscription privilege and with
or without stipulation of capital contributed in kind, setoff
or other stipulation as mentioned in Chapter 4 # 6, first
paragraph, in the Companies Act.
- A loan up to a limit of SEK 25 will be raised through the issue of
debentures to the subsidiary New Wave Retailing Stockholm AB coupled
with 300 000 separable share option rights for subscription up to
a limit of 300 000 new B-shares having a par value of SEK 0.50 in
the company. Also the further transfer of the separated share
option rights from New Wave Retailing Stockholm AB to employees
in leading positions within the group were approved.
Complete documentation regarding the issues mentioned above is available at the company.
In a speech, the CEO, Torsten Jansson, accounted for the future and the goals of New Wave Group, which are;
- To become the largest and best company in Europe with regard to
promotional business,
- To acquire a significant market-position within promotional gifts
and work wear, and
- To continue build Craft, Umbro and Seger to big actors in
sportswear in Sweden and other countries.
The CEO held the opinion that New Wave Group has a strong position and a bright future, but that variations down can occur between different quarters. The CEO also stated that the deteriorated state of the market has lead to an irregular sales development during the last year, as example, the result for May 2002 was acceptable, but lower than the result for April 2002, but the forecast that the group's result 2002 will be improved compared with the result 2001 remains.
The CEO's speech is published in is entirety at the home page of New Wave Group: http://www.nwg.se
Boras on 19 June 2002
New Wave Group AB (publ) The board
For more information, please contact:
Torsten Jansson CEO, New Wave Group Tel: +46 (0)708 99 80 50, +46 (0)33 22 58 55 Goran Harstedt dCEO, New Wave Group Tel: +46 (0)708 99 80 17, +46 (0)33 22 58 63
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The following files are available for download:
http://www.waymaker.net/bitonline/2002/06/19/20020619BIT01610/wkr0001.doc http://www.waymaker.net/bitonline/2002/06/19/20020619BIT01610/wkr0002.pdf