eng

Annual general meeting of shareholders

5/16/2003 12:46 PM

Bruce Grant, Edvard von Horn, Wilhelm Klingspor, Stig Nordin, Ulf Spång and Dag Tigerschiöld were re-elected as Board members and Anders Fällman and Cristina Stenbeck were elected as new members of the Board of Directors. Carl Lindgren was re-elected auditor and Björn Flink was re-elected deputy auditor.
 
The AGM resolved to approve the existing procedure for the nomination of Board Directors. A Chairman of the group of major shareholders responsible for nominating Board members will be announced before the year end.
 
The AGM approved the proposal from Farallon Capital for the reclassification of Class A shares as Class B shares as follows. Each Class A share may be reclassified as one Class B share. Requests for reclassification shall be made during the period commencing on 23 May 2003 up to and including 6 June 2003.
 
At a statutory Board meeting following the AGM, Edvard von Horn was elected Chairman of the Board of Directors and Cristina Stenbeck was elected Vice Chairman of the Board of Directors. Edvard von Horn has been a member of the Board since 1992 and is Chairman of the Board of Directors of MSLA and a member of the Board of Directors of Korsnäs. Cristina Stenbeck is Vice Chairman of the Board of Directors of Invik & Co. and Metro International, and a member of the Board of Directors of Modern Times Group and Tele2. Anders Fällman is President and CEO of Invik & Co. and a member of the Board of Directors of Metro International.
 
For further information, please contact:
Vigo Carlund, CEO, Industriförvaltnings AB Kinnevik tel: +46 8 5620 0000
Investor & Press Relations tel: +44 20 7321 5010