STOCKHOLM, Sweden, Feb. 23, 2005 (PRIMEZONE) -- Following Renault's decision to exchange its Ainax (publ) ("Ainax") shares for Scania's shares, Thierry Moulonguet has resigned as Board member of Ainax. This resignation takes effect immediately.
Stockholm February 23, 2005 Ainax AB (publ) Board of Directors
For further information, please contact: Mariana Burenstam Linder, CEO, +46 8 611 8810, or +46 705 95 2250
On April 16, 2004, the AGM of Volvo decided to transfer all of Volvo's Series A shares in Scania to Ainax and distribute Ainax shares to Volvo's shareholders. The purpose of Ainax' business operations is to administer the Series A shares held in Scania. In Ainax' articles of Association it is stipulated that if Ainax has not disposed of all of its shares in Scania by May 1, 2008 the company shall immediately enter into liquidation.
Ainax AB holds 27,320,838 Series A shares in Scania, corresponding to 24.8 per cent of the votes and 13.7 per cent of the capital. The number of Ainax shares in issue corresponds to the holding of Scania Series A shares, thus providing a transparent basis for the valuation of the company.
The Ainax share was listed on Nya Marknaden on June 8, 2004. On December 1, 2004, Ainax was listed on the Stockholm Stock Exchange's O-list. For further background information on Ainax please refer to Ainax' website (www.ainax.com)
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