STOCKHOLM, Sweden, Feb. 24, 2003 (PRIMEZONE) -- Since Metro (Nasdaq:MTROa) (Nasdaq:MTROb) has satisfied Stockholmsborsen's requirements regarding the composition of the company's Board of Directors and the Exchange has been given an opportunity to conduct a first-year assessment of the company, trading in Metro shares on the O-List may now be resumed. Stockholmsborsen decided on January 20, 2003 to place shares in Metro International S.A in the "under observation" section of the O-List. Shares in Metro International S.A were initially listed on Stockholmsborsen's O-List on February 8, 2001. According to Stockholmsborsen's procedures, an examination of the company's development should have been conducted during the first year of its listing on the Exchange. Stockholmsborsen decided to place Metro shares in the O List's "under observation" section against the following background:
-- The examiner appointed by Stockholmsborsen was not provided with
sufficient information to be able to perform his inquiry in a
satisfactory manner.
-- The composition of the company's Board of Directors did not satisfy
Stockholmsborsen's requirement regarding the need for independent
Board members.
"Metro has now enabled Stockholmsborsen to conduct a first-year assessment of the company. It has also complied with Stockholmsborsen's requirement that the Board include two members who are independent of the principal owner. As a result, there is no longer any reason for the company to remain under observation," said Anders Ackebo, Head of Listing and Monitoring at Stockholmsborsen.
"Under observation" section
In order to serve as a warning signal to the stock market, a listed company's shares or other securities may temporarily be placed in a special section of the Exchange's various lists, thus indicating that the company is under observation. Such an action is considered when a company's position as an exchange-listed company can be questioned because:
-- The company has undergone or plans to implement a fundamental change
of its business operations or organization
-- The company has committed a serious breach of the regulations
stipulated in the listing agreement
-- Trading in the company's shares is extremely sporadic as a result of
inadequate diversification of share ownership
-- There is significant uncertainty regarding the company's financial
position.
A company's shares are kept under observation for a limited period, normally for not more than six months.
For further information or comments, please contact:
Maria Andark, VP Corporate Communication, Stockholmsborsen Tel +46 (0) 70 597 52 76 Nils Liliedahl, Head of Information Surveillance, Stockholmsborsen Tel +46 (0)8 405 70 20 This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: www.waymaker.net/bitonline/2003/02/24/20030224BIT00120/wkr0001.doc www.waymaker.net/bitonline/2003/02/24/20030224BIT00120/wkr0002.pdf