COPENHAGEN, Denmark, April 24, 2002 (PRIMEZONE) -- To partly finance the acquisition of Eurogestion, ISS has today issued 1,314,500 new ISS shares. The number of issued ISS shares equals 3.11% of the total share capital of ISS prior to the new share issue.
At the extraordinary general meeting on April 19, 2001 ISS' Board of Directors were authorized to issue up to 10 million new shares in ISS and empowered to use the whole or part of such shares in consideration of the take-over by ISS of an existing business or part hereof.
In the stock exchange release no.12/02 released earlier today on April 23, 2002, ISS announced the acquisition of 100% of the shares in FPI S.A., parent company of the Eurogestion group. As part of the agreement with the sellers of Eurogestion and using the authorization, ISS has today issued 1,314,500 new ISS shares to partly finance the acquisition of Eurogestion. Due to the agreement with the sellers, the new shares were subscribed for by Deutsche Bank, and were subsequently placed by them in the market.
The new ISS shares have been subscribed for at a price of DKK 407 per share. The shares will carry the same rights as the existing ISS shares, including the right to receive dividends, if any. The shares are expected to be registered with the Danish Commerce and Companies Agency on April 30, 2002 and will be admitted to trading on the Stock Exchange on May 1, 2002.
The number of issued ISS shares equals 3.11% of the total issued share capital of ISS prior to the new issue of shares and 3.02% of the share capital of ISS following the new issue of ISS shares.
For more details on the acquisition of Eurogestion, please refer to stock exchange release no.12/02 released earlier today.
Forward-looking Statements
This Stock Exchange Release contains forward-looking statements within the meaning of US Private Securities Litigation Act of 1995 and similar laws in other countries regarding expectations to the future development, in particular future sales, operating efficiencies and business expansion. Such statements are subject to risks and uncertainties as various factors, many of which are beyond ISS' control, may cause the actual development and results to differ materially from the expectations contained in the Stock Exchange Release. Factors that might affect such expectations include, among others, overall economic and business conditions, fluctuations in currencies, the demand for ISS' services, competitive factors in the service industry and uncertainties concerning possible acquisitions and divestments. See also the description of risk factors set out on page 37-41 of the Annual Report 2001.