Adera To Sell Part of Its Amsterdam Operations.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--June 20, 2001 As part of the process of adjusting to changed market conditions, Adera has concluded an agreement to sell part of its operations in Amsterdam to a newly started company. The people behind the company include the previous owners of HCM HCM hypertrophic cardiomyopathy. B.V., the Amsterdam company acquired by Adera in the spring of 2000. Adera will have a 10 percent holding in the newly formed company. The deal entails the transfer by Adera of a business employing some 20 people with estimated net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of NLG NLG The ISO 4217 currency code for the Dutch Guilder. 5 million (around SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 20 million). The purchase price is approximately NLG 5 million (around SEK 20 million), NLG 4 million of which will be paid in cash, while the remainder will be paid during 2001/2002. The positive impact on the profit/proceeds will be used for additional structural measures in Holland. In connection with this deal, Adera has come to a settlement involving the reversion to Adera of 700,000 of the approximate total of 1.3 million class B shares issued by Adera as part of the purchase price for the acquisition of HCM B.V. The background to the settlement is that Adera has in the last few weeks been involved in negotiations with the company's previous owners about a reduction in the purchase price. The parties have now reached a settlement that involves the withdrawal of 700,000 class B shares without repayment and a reduction in Adera's share capital amounting to the nominal value Nominal Value The stated value of an issued security that remains fixed, as opposed to its market value, which fluctuates. Notes: When referring to fixed-income securities, the nominal value is also the face value. of the shares, i.e. SEK 70,000. As a result of the deal, Adera will be calling an extraordinary shareholders' meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. at which a proposal will be made that the shareholders should approve the transfer of the business in Holland and pass a resolution concerning a reduction in the share capital with respect to the 700,000 Adera class B shares. Notice of the extraordinary shareholders' meeting specifying time and place will be published as soon as possible. "The deal is part of our previously announced strategy to build up a presence in Europe with the help of partnerships and alliances," says Adera's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Rolf Jansson. Adera AB (publ) focuses on generating business benefits for its customers by bringing together the skills crucial to successful competition in the new world of business logic. These include strategy/business development, marketing/communication and IT/Internet expertise. Adera currently has offices in Gothenburg, Stockholm, Ljungby, Varnamo, Malmo, London, Antwerp and Amsterdam. The company's shares are listed on the O list of the Stockholm Stock Exchange The Stockholm Stock Exchange (Swedish: Stockholmsbörsen) is a stock exchange located in Stockholm, Sweden. Founded in 1863 [1] it is the primary securities exchange of the Nordic Countries. . |
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