STOCKHOLM, Sweden, March 29, 2004 (PRIMEZONE) -- Industrivarden's Annual General Meeting was held on March 29, 2004, at the Grand Hotel in Stockholm. The decisions made included the following:
* The Annual General Meeting approved the dividend of SEK 5.50 per share (preceding year: ordinary dividend of SEK 5.00 plus a bonus dividend of SEK 0.80). The record date for payment of the dividend was set at April 1, and thus dividends are expected to be paid via VPC on April 6.
* Boel Flodgren, Tom Hedelius, Finn Johnsson, Sverker Martin-Lof, Arne Martensson, Lennart Nilsson and Anders Nyren were reelected as directors on Industrivarden's board, and Fredrik Lundberg was elected as a new director. Clas Reuterskiold declined reelection.
* Fredrik Lundberg, 52, D.Econ. h.c., is President and CEO of Lundbergforetagen. He also serves as Chairman of Cardo, Holmen and Hufvudstaden, and is a director on the boards of Svenska Handelsbanken, Lundbergforetagen, NCC and Stadium. As of March 8, 2004, Fredrik Lundberg and Lundbergforetagen held shares in Industrivarden corresponding to approximately 15 percent of the voting rights and 11 percent of the share capital.
* The Annual General Meeting resolved to authorize the Chairman of the Board to appoint at least four members from among the major shareholders' representatives, who are not directors on the Company's board, to form with the Chairman a nominating committee for future board elections, with the Committee chairman to be appointed from within the Committee. The composition of the Nominating Committee shall be announced in the Company's third-quarter interim report.
* The Annual General Meeting resolved that Industrivarden, as an owner of Class A and B shares in Ericsson, will approve the proposal set forth by a group of major Class A and Class B shareholders of Ericsson at an Extraordinary General Meeting of Ericsson on a change in the voting power for Class B shares issued by Ericsson.
Decisions at the statutory meeting.
* At the statutory board meeting on the same day, in addition to approval at Ericsson's Extra- ordinary General Meeting of the proposal outlined above, the decision was made to exercise all the conversion rights for conversion of Class B shares to Class A shares. If this occurs, Industrivarden's current share of voting rights in Ericsson will decrease from 27.7 percent to 13.3 percent.
* Also at the statutory board meeting, Tom Hedelius was appointed Chairman and Sverker Martin-Lof Vice Chairman of Industrivarden's board.
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