MALMO, Sweden, March 25, 2002 (PRIMEZONE) -- The Board of Wilhelm Sonesson has resolved to recommend to the Annual General Meeting on April 24, 2002 a division of current operations into two separate companies. Wilh. Sonesson will become a streamlined company focused on Consumer Healthcare while Other Operations will be gathered within a new company, comprising Sonesson Inredningar (furnishings), SoftCenter, MW Trading and investments within the field of technology, with the exception of Optilink. As previously announced, the Board of Wilh. Sonesson has resolved to propose to the Annual General Meeting that holdings in Optilink be distributed among Wil. Sonesson's shareholders.
Other Operations will be divested with preferential rights for shareholders in Wilh. Sonesson, by which one (1) existing share carries the right to acquire one (1) share in Other Operations at SEK 4 per share. Holders of Series A and Series B shares obtain the right to acquire shares initially of the same class. The book value of the assets of Other Operations amounts to approximately SEK 255 M and the sale price totals approximately SEK 104 M. Detailed information regarding the proposal and the sale will be presented in an information bulletin to shareholders expected to distributed by April 17, 2002 at latest.
"The background to the proposal is the fact that the market value and potential of the Consumer Healthcare companies cannot be fully realized in a Group comprising several different fields of operations. The separate listing of Other Operations will provide favorable conditions to create greater values in both operations. Within Consumer Healthcare, we plan to conduct acquisitions in the pharmaceutical industry while simultaneously being able to nurture and develop the values inherent in Other Operations," said Bo Hakansson, Chairman of the Board of Wilh. Sonesson.
Wilh. Sonesson offers health products that satisfy a growing consumer demand. Health products comprise pharmaceuticals, naturopathic preparations, dietary supplements and related personal care products.
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