LUND, Sweden, May 15, 2003 (PRIMEZONE) -- At today's Annual General Meeting of Anoto Group AB (Other OTC:AOTOF) in Lund, and the Board of Directors' board meeting following election, the following resolutions were passed.
Board members Christer Fahraeus, Urban Jansson, Orjan Johansson, Lars Berg, Nils Rydbeck, Nils Ljung and Jan Uddenfeldt were re-elected and Kjell Duveblad was newly elected. Orjan Johansson was re-elected as the chairman. The Board was authorized to decide on a new share issue of a maximum of 11.000.000 shares to enable a directed new share issue to industrial partners within the scope of collaboration and alliances in order to contribute to the Company's supply of capital. The Annual General Meeting further resolved to implement an employee options program comprising a total maximum amount of 3.500.000 employee stock options.
In his statement Christer Fahraeus, CEO of Anoto Group, commented upon the most significant events during 2002 and reported on the interim report that was announced the same day.
Shareholders participating in the AGM were able to view a large selection of products and services offered by the Anoto Group of companies.
Annual Report, adoption of report etc
The AGM adopted the consolidated income statements and balance sheets. The Board Members and CEO were discharged from liability. No dividends will be paid.
Election of Board of Directors and Directors' fees
The AGM resolved to re-elect board members Christer Fahraeus, Urban Jansson, Orjan Johansson, Lars Berg, Nils Rydbeck, Nils Ljung and Jan Uddenfeldt and to elect the new member Kjell Duveblad. Christer Johansson had declined re-election.
The AGM resolved that remuneration for the Board will remain unchanged at SEK 1.200.000. It was resolved that the fee payable to Orjan Johansson for his services as working chairman is unchanged at about SEK 2.100.000.
Authorization
The Board was authorized to decide to implement a new share issue in a total amount of 11.000.000 shares prior to the next Annual General Meeting. The authorization shall enable a directed new share issue to industrial partners within the framework of collaboration and alliances in order to form part of the Company's supply of capital.
In addition, the Board's authorization, granted the previous year, to decide on a new share issue of a maximum of 5.170.714 shares was extended. The authorization may be used only for the acquisition of newly issued shares in the subsidiary Anoto if such shares are subscribed for on the basis of outstanding options. It is regarded as unlikely that it will be necessary to utilize this authorization.
Employee stock options program
The Annual General Meeting decided on an options program comprising a maximum of 3.500.000 employee stock options. The options will consists of two issues extending over two and three years respectively, at a subscription price of 140 percent and 160 percent respectively of the average market value of the Anoto Group share during the period May 16-22, 2003. In order to fulfil Anoto Group's commitments in accordance with the proposed employee stock options program and to finance the social security fees that may arise, a maximum of 4.655.000 debentures with detachable options will be issued to a wholly owned subsidiary.
Committees
In accordance with previous years, the task of appointing an audit committee and a replacement committee was entrusted to the Board by the AGM. It was further decided not to appoint a nomination committee.
Chairman of the Board
At the board meeting following election at the AGM, Orjan Johansson was re-elected as the chairman of the board.
For more information: Charlotte Laveson Director IR Anoto Group AB +46 733 478 620
Anoto Group AB
is a Swedish hi-tech company with unique solutions for transmission of handwritten text from paper to digital media, scanning of printed text and intelligent camera surveillance. All products are based on digital camera technology and image processing in real time. The Anoto Group today has three brand names: Anoto(R) -- a comprehensive solution entailing paper, pen and server technologies, allowing us to connect all types of writing paper with the digital world, C-Pen(R) -- a scanning pen that can store, interpret and transfer printed text, and WeSpot(TM) -- a hardware and software platform for intelligent camera surveillance. The Anoto Group has around 200 employees, offices in Lund (head office), Stockholm, Boston, Tokyo and Hong Kong. Major shareholders are Ericsson, Capital Group and the founder Christer Fahraeus. The Anoto share is traded on the O-list, Attract 40 of Stockholmsborsen (Stockholm Stock Exchange) under the ticker ANOT. For more information: www.anotogroup.com
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2003/05/15/20030515BIT01610/wkr0001.pdf