STOCKHOLM, Sweden, Feb. 11, 2002 (PRIMEZONE) -- At the Annual General Meeting of Mandamus Fastigheter AB in April 2001, the decision was taken to authorise the Board to buy and sell the company's own shares. The purpose of this decision was to allow continuous adjustment of the company's capital structure to its capital requirements. The Board's authorisation applies to the period up to the next AGM in April 2002. Bought-back shares may be sold at variance with the shareholders' preferential right. Purchase and sale of shares must take place on the Stockholm Stock Exchange within the price range from the highest bid rate to the lowest price paid. At present, Mandamus owns 624,400 shares, which corresponds to 3.04 per cent of the total number of shares issued.
In order to facilitate financing of planned property acquisitions, the Board has resolved to commence sale of the company's holdings of its own shares.
Mandamus is a property company that aims to own, develop and manage residential properties with a high yield, mainly in growth areas in Southern and Central Sweden. Mandamus owns properties with a book value of around SEK 5,700m, yielding an annual rental income of some SEK 900m. The company also part-owns and manages a property stock with a book value of around SEK 1,400m and a rental income of around SEK 250m annually.
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