Proposal to Industrivarden's Annual General Meeting to Authorize the Board to Purchase the Company's Own Stock.Business Editors STOCKHOLM Stockholm (stŏk`hôlm'), city (1995 pop. 692,954), capital of Sweden and of Stockholm co., E Sweden, situated where Lake Mälaren flows into the Baltic Sea. , Sweden--(BUSINESS WIRE)--March 29, 2000 The Board of Directors of Industrivarden has decided to propose that the Annual General Meeting authorize To empower another with the legal right to perform an action. The Constitution authorizes Congress to regulate interstate commerce. authorize v. to officially empower someone to act. (See: authority) the Board to make decisions on purchases and transfers of the Company's own stock. The proposal entails authorizing the Board to make decisions on purchases of the Company's own stock on the stock market and on transfers of the Company's own stock on the stock market or in another manner - on one or more occasions during the period up until the next Annual General Meeting. Such transfer would entail entail, in law, restriction of inheritance to a limited class of descendants for at least several generations. The object of entail is to preserve large estates in land from the disintegration that is caused by equal inheritance by all the heirs and by the ordinary a departure from the shareholders' preemptive right The privilege of a stockholder to maintain a proportionate share of the ownership of a corporation by purchasing a proportionate share of any new stock issues. In most jurisdictions, an existing stockholder has the right to buy additional shares of a new issue to preserve and make it possible for payment to be made by other means than money. Purchases shall be allowed to be made of up to 5 million shares of the Company's stock. Purchases shall be allowed to be made at a price per share that is within the registered price interval interval, in music, the difference in pitch between two tones. Intervals may be measured acoustically in terms of their vibration numbers. They are more generally named according to the number of steps they contain in the diatonic scale of the piano; e.g. at the time of the purchase. Transfers shall be allowed to be made of the Company's entire holding of own shares. Transfers on the stock market shall be allowed to be made at a minimum price per share that is within the registered price interval at the time of the transfer. Transfers in another way shall be allowed to be made at a market price determined by the Board of Directors. The purpose of this authorization The right or permission to use a system resource; the process of granting access. See access control. is to give the Board freedom to act in promoting the shareholders' interests through purchases and transfers of the Company's own stock, including, exercising this authority to work with the Company's debt-equity ratio and using own stock as payment in acquisitions. A more detailed account of the background and motives for the Board's proposal will be presented at Industrivarden's Annual General Meeting on Fri- day, May 5, 2000, at 2 p.m., at the Grand Hotel, Vintertradgarden, in Stockholm. AB INDUSTRIVARDEN (publ) Please visit http://www.bit.se for further information The following files are available for download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. : http://www.bit.se/bitonline/2000/03/29/20000329BIT01170/bit0001.doc http://www.bit.se/bitonline/2000/03/29/20000329BIT01170/bit0002.pdf |
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