STOCKHOLM, Sweden, April 09, 2003 (PRIMEZONE) -- In his address to the board, CEO Mikael Jonson stressed that the market remains slow. At the same time he described that the company's strategic positioning has elicited a favorable response, particularly in terms of its work for substantially reducing costs by means of resources and thereby making products and processes more cost-effective.
In accordance the board's proposal, the PartnerTech AB (publ) annual general meeting voted that no dividend would be distributed for 2002.
Andrejs Cakste, Mikael Jonson, Patrik Tigerschiold and Johan Siberg were re-elected to the board. Claes Wretlind, who has served as CEO of Vellinge Electronics, was elected to the board for the first time. Wretlind replaces Hans Ahlinder, who was commended after four years of service. Former chairman Gunnar Ekdahl was commended in his absence. The statutory board meeting afterwards chose Johan Siberg as chairman.
The annual general meeting authorized the board to reach a decision on an issue of new shares in order to provide the company with additional capital or to finance acquisitions. The authorization is limited to a maximum of 1,000,000 shares with a par value of SEK 5 each.
In accordance with a proposal of the board, the annual general meeting re-elected Deloitte & Touche as the company's auditors for the next four years.
The meeting decided to reject a proposal to appoint a nominating committee, a remuneration committee and an auditing committee. The basis for the decision is that the size of the current board strongly suggests that it is able to deal with the issues that such committees would be set up to handle.
The members of the board and the CEO were discharged from liability with respect to 2002.
For additional information, please call: Mikael Jonson, CEO, + 46 70 678 1001 Jonna Opitz, Investor Relations, +46 40 102643
Upcoming interim reports:
Report for January-March - Wednesday, April 23, 2003Report for January-June - Wednesday, July 16, 2003Report for January-September - Monday, October 20, 2003
PartnerTech develops and manufactures electronic products under contract for leading companies, primarily in telecommunications, IT, the engineering industry and medical equipment. The company (www.partnertech.se), which has approximately 1,200 employees, is quoted on the O list of the Stockholm Stock Exchange.
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