STOCKHOLM, Sweden, Jan. 15, 2003 (PRIMEZONE) -- Kaupthing Bank has increased its stake in JP Nordiska to more than 90%. Kaupthing Bank will therefore begin mandatory redemption of the outstanding shares of JP Nordiska and consequently seek for the delisting of JP Nordiska from Stockholmsborsen.
Kaupthing Bank has acquired a further 4,060,062 shares in JP Nordiska, amounting to 6.7% of the total number of shares. The bank has thereby increased its shareholding to 56,189,970 shares, representing 92.7% of JP Nordiska total number of shares and voting rights.
Kaupthing Bank will soon begin mandatory share-redemption proceedings aimed at acquiring the remaining outstanding shares of JP Nordiska. Kaupthing Bank will also purchase JP Nordiska shares on Stockholmborsen.
Kaupthing Bank has decided to seek delisting of JP Nordiska from Stockholmsborsen as a consequence of the mandatory share-redemption proceedings. JP Nordiska will be handling administrative measures associated with the redemption as well as the delisting process.