eng

Extraordinary General Meeting

8/26/2004 11:24 AM

Invik & Co. AB ("Invik), under a change of name to Investment AB Kinnevik, today announced that the company's Extraordinary General Meeting (EGM), held today in Stockholm, elected Pehr G Gyllenhammar, Edvard von Horn and Stig Nordin as new Board Members. Following the election, the Board of Directors consists of Pehr G Gyllenhammar, Cristina Stenbeck, Edvard von Horn, Wilhelm Klingspor, Erik Mitteregger and Stig Nordin.
 
Pehr G Gyllenhammar is Chairman of Aviva plc, Vice Chairman of Rothschild Europe and Chairman of the Reuters Founders Share Company Limited. He is also Chairman of the European Financial Services Round Table (EFR).
Mr. Gyllenhammar was appointed as Managing Director and Chief Executive Officer of Volvo AB in 1971 and remained with the company for twenty-three years, serving as Executive Chairman between 1990 and 1993. Prior to joining Volvo, Mr. Gyllenhammar was Managing Director and Chief Executive Officer of the Skandia Insurance Company.

Edvard von Horn has been a Member of the Board of Directors of Kinnevik since 1992. He has broad business experience, primarily in the forestry and farming industries. Edvard von Horn was Chairman of the Board of Directors of Kinnevik through the finalisation of the merger with Invik in July 2004. He is also the Chairman of the Board of Mellersta Sveriges Lantbruks AB and a Member of the Board of Korsnäs AB.

Stig Nordin has been a Member of the Board of Directors of Kinnevik since 1992. He was previously CEO of Industriförvaltnings AB Kinnevik, Korsnäs AB and Invik & Co. AB. Stig Nordin is a former Member of the Board of Directors of Tele2 AB, Millicom International Cellular S.A. and MTG AB. Stig Nordin is a Member of the Board of Directors of Emesco AB.
The EGM further resolved to amend the articles of association implying that the company's name has been changed from Invik & Co. AB to Investment AB Kinnevik.

The EGM also resolved to approve that the procedure for the nomination of Board Directors for the AGM in 2005 will be led by Cristina Stenbeck as Chairman of the Nomination Group. The Nomination Group will be created this fall in consultation with at least three major shareholders and the composition of the group will be disclosed in the interim report for the third quarter of 2004.

At the statutory Board meeting following the EGM, Pehr G Gyllenhammar was appointed Chairman and Cristina Stenbeck was appointed Vice Chairman of the Board of Directors.

For further information, please visit www.invik.se or contact:
Vigo Carlund, President & CEO +46 (0) 8 562 000 00
Henrik Persson, Investor Relations +46 (0) 8 562 000 87
 
Invik & Co. AB, under a change of name to Investment AB Kinnevik, is an investment company. The Company's objective is to increase shareholder value, primarily through net asset value growth. The Group consists of the Parent Company Invik & Co. AB and a number of operating subsidiaries. The Parent Company manages a portfolio of long-term investments in a select number of listed companies such as Tele2 AB, Modern Times Group MTG AB, Millicom International Cellular S.A., Metro International S.A., Transcom WorldWide S.A. Invik plays an active role on the Boards of its subsidiaries and associated companies.

The Group's subsidiaries are principally active in carton board and paper production through Korsnäs AB, banking, insurance, securities broking and trading, and asset management through Modern Finance Group and farming through MSLA.

Invik's A' and B' shares are traded on the Stockholmsbörsen O-list' with the ticker code INVKA' and INVKB'. After the change of name to Investment AB Kinnevik, expected in September, the shares will be traded under KINVA' and KINVB'.