LUND, Sweden, April 4, 2002 (PRIMEZONE) -- The Board of Directors of Wilh. Sonesson has resolved to propose to the Annual General Meeting on April 24, 2002, a division of the current operations into two separate companies. Wilh. Sonesson will become a streamlined company focused on consumer healthcare and the other operations will be combined within the wholly owned Wilh. Sonesson subsidiary Active Capital AB, which will then be sold to the shareholders.
The following are proposed as members of the Board of Active Capital: Kjell Nilsson (former president of Trelleborg), Greg Dingizian (departing president of Wilh. Sonesson), Sven Ek (former executive vice president of Svedala Industrier), Bo Hakansson (Board Chairman and principal owner of Wilh. Sonesson) and Lennart Molvin (executive vice president of Hansa Medical AB). Kjell Nilsson is proposed as Chairman of Active Capital and Bo Hakansson as president.
Active Capital will comprise Sonesson Inredningar, SoftCenter, MW Trading and a number of investments in the technology field. The Sonesson Inredningar Group, a leading supplier of interior furniture and fittings for mainly schools, posted sales of SEK 278.0 M during 2001 and operating profit of SEK 18.4 M. MW Trading develops and markets theft-protection equipment for stores. It reported sales of SEK 77.2 M in 2001, with operating profit of SEK 0.5 M (including non-recurring expenses of SEK 4.5 M). SoftCenter, which owns a 36,000-square-meter science and technology park in Ronneby, Sweden, posted sales of SEK 46.6 M in 2001 and operating profit of SEK 24.4 M. Active Capital will also include investments in the technology field in the Real Venture Group, Itact/V2 Internet Fund KB and Remando.
Other Operations will be divested with preferential rights to shareholders in Wilh. Sonesson, in 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.
"Active Capital will own a number of solid and profitable operations. Through the divestment of a part of these operations, we will facilitate a good direct return for the shareholders, while at the same time, we will be able to create long-term shareholder value through the development of other operations," said Bo Hakansson, Board Chairman of Wilh. Sonesson and designated president of Active Capital.
Additional information about the offer to acquire shares in Active Capital will be distributed to the shareholders not later than April 17, 2002. Erik Penser Fondkommission is the financial advisor to Wilh. Sonesson with regard to the sale of Active Capital.
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