Industriförvaltnings AB Kinnevik today announced that the company's Extraordinary General Meeting (EGM) of shareholders held today approved the merger between Kinnevik and Invik.
The EGM resolved to approve the merger plan prepared jointly by the Board of Directors of Kinnevik and Invik, whereby Invik will absorb Kinnevik. Following the completion of the proposed share split in Invik the consideration shall consist of 3.5 Class A shares in Invik for each Class A share in Kinnevik and 3.5 Class B shares in Invik for each Class B share in 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.
For further information, please visit www.kinnevik.se
Vigo Carlund, CEO, Industriförvaltnings AB Kinnevik tel: +46 8 5620 0000
Henrik Persson, Investor & Press Relations tel: +44 77 4782 2406
Industriförvaltnings AB Kinnevik was established in 1936 as an investment holding company. The Company's objective is to increase shareholder value, primarily through net asset value growth. The business consists of operating companies such as farming company MSLA and cartonboard and paper producer Korsnäs AB, and 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. and Invik & Co. AB. Kinnevik plays an active role on the Boards of its subsidiaries and associated companies.
Kinnevik's A' and B' shares are traded on the Stockholmsbörsen A-list'.