STOCKHOLM, Sweden, Dec. 23, 2003 (PRIMEZONE) -- As a part of OMHEX's (then OM) streamlining program announced on June 30, 2003, OMHEX has conducted an overview of the products and operations within the Energy product portfolio. The overview has resulted in the following:
OM has agreed to transfer the product POMAX Wholesale. The rights to the POMAX Wholesale product have been sold to former employees of OMHEX's operations in Halden who will assume responsibility for the existing client base. The new company is called Navita Systems, and Tor Heiberg has been appointed CEO.
As announced, OMHEX has agreed to transfer the energy business operation of Retail System and the rights to the POMAX Customer product to TietoEnator. For more information about this transfer, please see the separate press release from 2003-12-22.
As announced, OMHEX yesterday signed an agreement to sell the business activities of UKPX to APX. The closing of the acquisition is anticipated in mid-2004 once certain operational and regulatory matters have been settled. OMHEX will continue to operate UKPX until these matters have been resolved. During this time, the operations of UKPX will have no effect on OMHEX's earnings. For more information about this transfer, please see the separate press release from 2003-12-23.
OMHEX's operations in Copenhagen have been closed down and transferred to, among others, Anders Millgaard, former employee of OMHEX's Copenhagen office. The transfer includes, apart from the rights to the eMerger product software, responsibility for the existing client base. The new company will continue under the name Aktant with Anders Millgaard as CEO.
OMHEX's offices in Frankfurt, Hamburg, Toronto and Pasadena are being closed down.
OMHEX owns and operates the largest securities market in Northern Europe and is a leading provider of marketplace services and solutions for the financial and energy markets. The division OM Technology is a world- leading provider of solutions and services -- outsourcing and transaction processing -- based on pioneering and proven technology. The division HEX Integrated Markets is the integrated Nordic and Baltic marketplace for securities, giving customers access to 80 percent of the Nordic and Baltic securities market and includes Stockholmsborsen, HEX Helsinki, HEX Tallinn and HEX Riga.
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2003/12/23/20031223BIT00050/wkr0001.pdf