Diversification of Ownership in POOLiA - Bjorn Oras Divests Part of His Holding.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--Sept. 8, 2000 The major owner and Chairman of the Board in POOLiA, Bjorn Oras, has through Enskilda Securities sold 1,300,000 of his Series B shares in POOLiA, corresponding to 10.8% of the votes and 19.4% of the capital. After the sale, Bjorn Oras has 1,341,272 Series A shares and 1,786,628 Series B shares, corresponding to 70.4% of the votes and 46.7% of the capital. The shares have been placed with Swedish and international institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. . The principal reason for the diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. of ownership is to meet the market's demand for a larger free float Free float An exchange rate system characterized by the absence of government intervention. Also known as clean float. in the Company, thus increasing the liquidity in the share. Bjorn Oras, who founded POOLiA in 1989, will continue to be a major shareholder in POOLiA and will continue his work with the development of the Company. As Chairman of the Board, Bjorn Oras will focus on strategy issues and POOLiA's international expansion. In order to cover over-allotments Bjorn Oras has granted an option to Enskilda Securities to purchase 100,000 shares of Series B in POOLiA. Enskilda Securities has borrowed theses shares, which correspond to 0.8% of the votes and 1.5% of the capital, from Bjorn Oras. After the divestment divestment to strip one's investment from an entity. and the loan, Bjorn Oras has 1,341,272 shares of Series A and 1,686,628 shares of Series B, corresponding to 69.6% of the votes and 45.2% of the capital. Bjorn Oras has committed not to sell any additional shares for a period of 6 months. Enskilda Securities may effect transactions which stabilise Verb 1. stabilise - support or hold steady and make steadfast, with or as if with a brace; "brace your elbows while working on the potter's wheel" brace, stabilize, steady or maintain the market price of the POOLiA share at a level which may not otherwise prevail in the open market. Any such stabilisation Noun 1. stabilisation - the act of making something (as a vessel or aircraft) less likely to overturn stabilization improvement - the act of improving something; "their improvements increased the value of the property" will be effected on the OM Stockholm Exchange from today up to and including 6 October, 2000 and may be discontinued dis·con·tin·ue v. dis·con·tin·ued, dis·con·tin·u·ing, dis·con·tin·ues v.tr. 1. To stop doing or providing (something); end or abandon: at any time. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/09/08/20000908BIT00080/bit0001.doc http://www.bit.se/bitonline/2000/09/08/20000908BIT00080/bit0002.pdf |
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