News release from the Extraordinary General Meeting of AB Lindex The Extraordinary General Meeting of AB Lindex held on 26 September 2007 instructed the Board of Directors to bring forward a transaction (”the Transaction”), structured largely as follows: A dormant company held outside of the Lindex Group with the proposed name of Lindex Holding AB and with a share capital of SEK 500,000 minimum, will raise bank loans or arrange other appropriate financing on market terms of up to SEK 3 billion. It will also make a public offer to the shareholders of Lindex to transfer all their shares in Lindex to Lindex Holding. The offer shall be structured such that the shareholders are offered cash or promissory notes for a certain proportion of their shares and new shares in Lindex Holding for their remaining shares. The new shares in Lindex Holding shall entitle shareholders to an ownership which, on full acceptance of the offer, is equivalent to the proportion the shareholder held in Lindex before the offer. The offer from Lindex Holding shall be subject to normal, waivable conditions, including a 90 per cent acceptance level. The transaction involves a recapitalisation of Lindex which in the opinion of the Board of Directors is in the interest of the company and its shareholders. However, the Transaction will also act as a defensive action, as defined in Chapter 5 Section 1 of the Swedish Act on Takeover Bids, against KappAhl's offer which, in the opinion of the Board of Directors, does not reflect the full value of Lindex. The resolution in favour of the proposal is, therefore, an authorisation of such defensive action. The Swedish Financial Supervisory Authority has put questions to Lindex in connection with an investigation as to whether Lindex fulfilled its obligations in accordance with the Swedish Act on Takeover Bids when the company published its proposal for recapitalisation. Lindex has replied to these questions and the issue has since been abandoned. The intention is that the transaction will be carried out in accordance with the timetable outlined below. 2007 Oct Publication of the public offer from Lindex Holding for the recapitalisation Oct/Nov Offering Memorandum for Lindex Holding's public offer Nov/Dec Application period for Lindex Holding's public offer Dec Listing of Lindex Holding Dec Payment of 44 SEK per share 2008 Jan Call for compulsory redemption of remaining shareholders in Lindex Jan Delisting of Lindex For further information, please contact: Conny Karlsson, Chairman of the board Telephone: + 46 (0)705 21 19 18 Sara Carlsson, Acting Corporate Communications Director Telephone: +46 (0)31 739 50 70 Mobile: +46 (0)708 81 14 88 Lindex inspires women and their children with co-ordinated and value-for-money fashion. With around 350 stores in Sweden, Norway, Finland, the Czech Republic, Lithuania, Estonia and Latvia, Lindex is one of the largest fashion chains in Northern Europe. Lindex's product areas are Ladies' Wear, Lingerie, Children's Clothing and Cosmetics. www.lindex.com
News release from the Extraordinary General Meeting of AB Lindex
| Source: Lindex, AB