Gothenburg, May 25, 2000
At the Annual General Meeting in Castellum AB on May 24, 2000, the Board of Directors proposal of a dividend of SEK 4,50 was confirmed. May 29, 2000 was decided as record day for dividend.
The Annual General Meeting decided to re-elect Jan Kvarnström, Mats Israelsson, Gunnar Larsson, Stig-Arne Larsson and Göran Lindén to the Board of Directors. Lars-Erik Jansson, who is new CEO of Castellum AB since March 22, 2000, was elected to new member of the Board.
The chairman of the Board, Jan Kvarnström, expressed the Board's thanks to Thomas Alexandersson, former CEO of the company, who had declined another term.
-"Thomas Alexandersson has been the architect and entrepreneur behind Castellum, which started with a large amount of problem properties within the Securum, autumn 1992", says Jan Kvarnström. "Since Castellum was listed on the stock exchange in spring 1997, the company has, to the delight of its shareholders, had a very good development regarding profits as well as net asset value. Thomas Alexandersson is leaving a well managed and consolidated company, well prepared to carry on the offensive that the company has showed since the start.
In addition the General Meeting decided, in accordance with the Board's proposal, to redeem every seventh share at a redemption price of SEK 100. Record day for receiving redemption rights was decided to be May 29, 2000. As a part of the redemption procedure it was also decided, in accordance with the proposal, to change the Articles of Association, to issue new series C shares and to redeem these series C shares. Information material and application form will be distributed to the shareholders in early June.
The General Meeting decided to authorize the Board – in order to adjust the company's capital structure – until the next Annual General Meeting, to purchase series A shares corresponding to a maximum of 10 percent of all shares in the company. Purchase over the stock exchange is allowed within the actual share price interval. Purchase by an offer to the shareholders may be executed at a price per share corresponding to the actual share price with a premium or discount of no more than 50 percent. In addition the General Meeting decided to authorize the Board, until the next Annual General Meeting – in order to adjust the company's capital structure – to be able to transfer all series A shares held by the company. If the shares are sold over the stock exchange the price per share must be within the current price interval.
At the board meeting following election Mr. Jan Kvarnström was re-elected as chairman. In addition, the board decided to utilize its authority to repurchase series A shares by purchases over the stock market. No decision was made regarding transfer of shares.
For further information, please contact
Lars-Erik Jansson, CEO, tel +46 31 60 74 00/ mobile +46 705-92 06 70
Håkan Hellström, CFO/deputy CEO, tel +46 31 60 74 00 / mobile +46 705-60 74 56