As previously announced, on 16 April earlier this year, the Boards of Directors of PSI Group ASA and CashGuard AB (publ) have entered into a merger agreement between the companies. The Boards of Directors also adopted the merger plan, which sets forth the continued merger process. The agreed exchange relation, as well as all other conditions, remain unaltered. As earlier stated it is expected that the merger will be completed before the end of August 2008. As part of the continued merger process the merger plan will be submitted for approval by an extraordinary shareholders' meeting in CashGuard AB and by an ordinary shareholders' meeting in PSI Group ASA. According to plan, the shareholders' meetings will be held on 10 June 2008, which means that the date for the ordinary shareholders' meeting in PSI Group ASA (22 May 2008) which was earlier communicated has been pushed forward. Notice to the ordinary shareholders' meeting in PSI Group ASA and the extraordinary shareholders' meeting in CashGuard AB will be made no later than two weeks before the shareholders' meetings are to be held. The merger plan, including exhibits thereto, will be made available to the companies' shareholders as soon as practically possible. A prospectus regarding the merger will also be made public. As follows from the adopted merger plan and the merger process, the announcement of the first quarter results for 2008 will be delayed for both PSI Group ASA and CashGuard AB until 29 May 2008. At the same time pro forma figures for the new company will be presented. For further information please contact: Leif Flemming Bakke, Chairman of the Board PSI Group ASA, Tel no +47 90722 200 Mats-Olof Ljungkvist, Chairman of the Board CashGuard AB, Tel no: +46 7 088 69 013 Information on PSI Group PSI is Scandinavia's leading supplier of advanced IT-solutions for the retail business - which manages, distributes and secures cash and effectuates the handling of price-, product- and consumer information. PSI Group has its headquarters in Raelingen and has approximately 210 employees in Norway and Sweden with a turnover of approximately MNOK 461 during 2007. The company's shares are listed on Oslo Börs and is presently the largest shareholder in CashGuard AB. For further information please see www.psi.no. Information on CashGuard AB (publ) CashGuard develops and sells products and services for closed cash handling and cash logistics. The company approaches, directly and through distribution partners, companies within trade, post and bank as well as security companies. The CashGuard Group has approximately 180 employees and had a turn over of approximately MSEK 387 during 2007. The shares are listed on OMX Nordic Exchange Stockholm. For further information, see Exhibit 1 and www.cashguard.se. Exhibit 1: Further information on CashGuard AB The Board of Directors in CashGuard AB consists of *: - Mats-Olof Ljungkvist (chairman of the board) - Mats Andersson - Leif Flemming Bakke The management in CashGuard AB consists of**: - Agne Pettersson (CEO) - Pontus Ljungberg (Service manager) - Björn Eriksson (Technical manager) - Marie von Sydow (Production director) Key figures for CashGuard**: Net revenues for 2007 MSEK 387 Profit or loss before tax for 2007 MSEK - 21 Shareholder's equity as at 31-12-2007 MSEK 244 Total liabilities as at 31-12-2007 MSEK 158 Total assets as at 31-12-2007 MSEK 402 * Information taken from CashGuard's press release 18 April 2008 ** Information taken from CashGuard's annual report for the financialyear 2007 This press release may not be distributed or published in the United States of America, Australia, Japan, Canada, New Zeeland or in any other country where distribution or announcement requires additional registration or other measures, other than required by Swedish or Norwegian law.
CashGuard AB: Merger plan adopted by the Boards of Directors of PSI and CashGuard
| Source: Cash Guard AB