STOCKHOLM, Sweden, Sept. 2, 2003 (PRIMEZONE) -- Custos' (Other OTC:CUSTF) Board of Directors will call an Extraordinary General Meeting on September 30, 2003, to approve a resolution offering the Company's shareholders the right to redeem every fourth share in Custos with payment consisting of three shares in Bilia and SEK 64 in cash per redeemed share. The total market value of this redemption amounts to SEK 394 m(1), corresponding to 40 per cent of Custos' net asset value. The value per redeemed share amounts to SEK 281.50(1). This should be compared to Custos' net asset value of SEK 179 and its market price of SEK 159 per share on August 28, 2003. Custos intends to distribute compensation in the form of Bilia shares and cash in the middle of December 2003.
"This measure is in line with Custos' strategy to maximize value for its shareholders through, among other actions, redemption as long as the company is valued at a discount to net asset value," said Mikael Nachemson, CEO of Custos.
Custos Mikael Nachemson +46 8 440 57 70
This Press Release is published in Swedish and English. In the event of any difference between the English version and the Swedish original, the Swedish version shall govern.
(1) Calculating with the last price paid for Bilia on August 28, 2003
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2003/09/02/20030902BIT00280/wkr0001.doc
http://www.waymaker.net/bitonline/2003/09/02/20030902BIT00280/wkr0002.pdf