The EGM resolved to approve the merger plan prepared jointly by the Board of Directors of Invik and Kinnevik, whereby Invik will absorb Kinnevik.
The EGM approved the offer to reclassify Class A shares to 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 18 May 2004 up to and including 16 June 2004.
The EGM resolved on a share split of 1:10 by an amendment of the articles of association whereby one (1) previous share in Invik is split into ten (10) new shares in Invik.
For the completion of the merger, it was also resolved to issue not more than 25,975,770 Class A shares and not more than 190,296,240 Class B shares constituting the merger consideration whereby, following completion of the share split, 3.5 Class A shares in Invik shall be received for each Class A share in Kinnevik and 3.5 Class B shares in Invik shall be received for each Class B share in Kinnevik. In connection thereto, the EGM resolved to amend the articles of association regarding purpose of the business and limits of the share capital.
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Anders Fällman, Chief Executive Officer +46 (0) 8 562 000 20
Henrik Persson, Investor Relations +44 (0) 77 4782 2406 Invik & Co. AB is an investment company. The Group consists of the Parent Company Invik & Co. AB and a number of operating subsidiaries. The Parent Company manages a long-term portfolio of listed company securities. The Group's subsidiaries are principally active in banking, insurance, securities broking and trading, and asset management.
Invik & Co. AB shares are listed on the Stockholm Stock Exchange O list under the symbols INVKA and INVKB.