LUND, Sweden, Sept. 20, 2005 (PRIMEZONE) -- The Board of Directors for Precise Biometrics AB ("Precise Biometrics" or "the Company") resolved on September 20, 2005, to increase the Company's share capital by issuing 8.7 million shares of class A. The shares were subscribed by Danske Markets, a division of Danske Bank A/S, for onward sale to a limited number of European institutional investors. The resolution was underpinned by authority granted to the Board at the Annual General Meeting of April 27, 2005 ("the AGM").
The issue price was SEK 7.25 per share, which corresponds to an issue discount of 4.7 percent of the volume-weighted average price paid during the last 30 trading days.
The new share issue will increase the number of shares by 8,700,000 from 63,019,200 to 71,719,200 which means that the new shares constitute 12.1 percent of capital and votes after the issue. Share capital will increase by SEK 3,480,000 to SEK 28,687,680. In total, this will bring the Company about SEK 63 million before deduction of issue costs.
"I am very excited and happy to see so many international institutions choosing to invest in Precise Biometrics, which enables us to further focus and enhance our sales and marketing efforts on the global market," says Christer Bergman, President and Group CEO for Precise Biometrics. "Around the world there is a growing demand for biometric solutions with the implementation of national ID cards and electronic passports. Increasing the resources at our disposal will further enhance our competitiveness," Mr. Bergman continues.
The purpose of the authority granted by the AGM was to enable the Company to carry out acquisitions and to obtain capital contributions from industrial or international owners. During the summer, Precise Biometrics has taken advantage of this authority in the acquisition of Loqware Sweden AB and by enhancing its strategic collaboration with the Japanese company silex technology Inc. Through this most recent issue of new shares, the Company is achieving its goal of broadening international institutional ownership.
Precise Biometrics took financial advice in the new share issue from Danske Markets Corporate Finance.
For further information, please contact Lars Gronberg, chairman of the board, Precise Biometrics AB Phone +46 (0)707 27 54 55 E-mail lars.gronberg@precisebiometrics.com
Niklas Andersson, CFO, Precise Biometrics AB Phone +46 (0)46 31 11 02 or +46 (0)730 35 67 02 E-mail niklas.andersson@precisebiometrics.com
Precise Biometrics AB (publ.) is an innovative security company that supplies world-leading systems for fingerprint and smart card-based authentication. The company's solutions replace keys, PIN codes and passwords and enhance the integrity of ID cards and passports. With its proprietary Precise Match-on-Card(TM) technology, the company is a market leader within smart ID cards. Through its subsidiary Fyrplus Teknik, Precise Biometrics can deliver complete biometrics solutions on the Scandinavian market based, for example on fingerprint, iris and facial recognition. The product line includes systems for access control to buildings, computers and networks and for integration into ID cards and passports. The group headquarters are in Lund, Sweden. It also has offices in Stockholm and in London and a U.S. subsidiary in Washington, DC. The subsidiary Fyrplus Teknik is based in Karlstad and has regional offices in Linkoping and the subsidiary Loqware is based in Gothenburg. Precise Biometrics is listed on the O-list of the Stockholm Stock Exchange (symbol: PREC A).
For more information, please visit http://www.precisebiometrics.com/
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