STOCKHOLM, Sweden, April 16, 2002 (PRIMEZONE) -- At today's Annual General Meeting of Securitas AB, the following was decided:
Election of the Board of Directors
Thomas Berglund, Carl Douglas, Gustaf Douglas, Anders Frick, Philippe Foriel-Destezet, Berthold Lindqvist, Fredrik Palmstierna and Melker Schorling were re-elected. The Annual General Meeting also decided that the number of Board Members shall be as current, eight. Fees to the board members shall be unchanged and amount to SEK 1,850,000 in total, to be distributed among the Directors according to the decision by the Board of Directors.
Dividend
According to the proposal of the Board of Directors, the Annual General Meeting established the dividend at SEK 1.50 per share. The record date for the dividend was determined as Friday, April 19, 2002 and payment from the Securities Register Center (VPC) is expected to commence on Wednesday, April 24, 2002.
Directed Issue of Convertible Bonds and Resolution regarding an Incentive Program
The Annual General Meeting passed a resolution to issue convertible bonds and to accomplish a global incentive program for all employees within the Securitas Group according to the recommendation previously announced by the Board of Directors. The incentive program will comprise approximately 190,000 employees in about 20 countries with the intention to offer the employees the possibility to acquire shares at market price in a company especially established for this purpose, which company shall subscribe for convertible bonds in Securitas AB. The convertible bonds will be issued in four equally large series totalling a maximum amount of MEUR 444.4 with a running period of five years and an annual interest rate corresponding to 90% of "3 months' EURIBOR" plus 0.49 percentage points. The conversion rate will vary between 100 and 160 percent of the transaction price quoted on the Stockholm Stock Exchange for shares in Securitas AB during the period from 24 April to 30 April 2002 inclusive (100 percent for convertible bonds of series 2002/2007:1; 120 percent for convertible bonds of series 2002/2007:2; 140 percent for convertible bonds of series 2002/2007:3; 160 percent for convertible bonds of series 2002/2007:4). The dilution effect is subject to the share price and the applicable transaction rate at the time of subscription but should at a share price of SEK 200 and a transaction rate of euro/sek of 9.13 be expected to correspond to approximately 4.4 percent of the share capital and approximately 3.1 per cent of the total number of votes, on a fully diluted basis. The company established for the intended purpose intends to finance its subscription for the convertible bonds, to an amount equal to 90 percent of the value of the convertible bonds, by raising bank financing and for the remaining 10 percent by the capitalization which shall take place through the employees' acquisition of shares.
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