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Grimaldi Industrier AB New Major Shareholder of Pricer; Pricer Receives 75 MKR in New Funding.

UPPSALA, Sweden--(BUSINESS WIRE)--July 13, 1998--The Board of Pricer AB (publ)("Pricer") decided on July 10, 1998, that subject to the extra shareholders' meeting's approval on August 10, 1998, issue 94,923 new A-shares and 1,710,272 new B-shares to Grimaldi Industri AB ("Grimaldi Industri").

The new shares will be issued at a price of SEK 38.50 per share, which was the average share price during five days at time of the final negotiations of the agreement. The new issue will supply Pricer with approximately MSEK 69.5.

In addition to the new issue, Grimaldi Industri will, from Pricer's original owners Erik Danielsson and Jan-Olov Sandin, acquire 101,705 A-shares and 41,542 A-shares respectively in Pricer, at a price of SEK 38.50 per share equivalent to approximately MSEK 5.5. Erik Danielsson and Jan-Olov Sandin will dispose the proceeds of the transaction as a loan, free of interest, to Pricer. The loan will be given to Pricer for an undetermined period of time and will be sub-ordinated all other claims on the company's assets.

Grimaldi Industri will, after subscribed new issue and acquired A-shares, own 238,170 A-shares and 1,710,272 B-shares in Pricer equivalent to approximately 8.1 percent of the company's shares and 10.1 percent of the votes after dilution of the convertible.

Erik Danielsson will after the transaction own 512,921 A-shares and 3,121,553 B-shares. Erik Danielsson's share of Pricer's share-capital and votes after the transaction will be 15.1 percent and 19.8 percent respectively. Jan-Olov Sandin will after the transaction own 209,613 A-shares and 1,215,969 B-shares. Jan-Olov Sandin's share of Pricer's share-capital and votes will correspondingly amount to 5.9 percent and 7.9 percent respectively.

Furthermore, it is proposed that Mr Salvatore Grimaldi, CEO of Grimaldi Industri AB, shall be elected as an ordinary member to the Board of Directors of Pricer at the extra shareholders' meeting.

The extra shareholders' meeting will be held in Uppsala at 5 p.m., 10th August.

Pricer AB was founded in 1991 in the city of Uppsala, Sweden. In only a few years, it has built a leading position in the fast growing market of electronic price and information systems for the retail trade. Through the co-operation with Telxon Corp., the world leader of wireless local area networks for stores, and the acquisition of Intactix International Inc., the world leader in space management, Pricer has built a very strong platform for future growth. Pricer offers integrated merchandising solutions encompassing leading edge technology systems and consulting services to substantially improve consumer value and satisfaction and increase the profitability of retailers and their suppliers. The Pricer Group have subsidiaries in the USA, UK, France, Italy, Germany, Australia, Japan, Chile and in South Africa and operate sales offices in ten other countries. Pricer AB is listed on the O List of the Stockholm Stock Exchange. Visit the Pricer Web site at www.pricer.se.

 CONTACT: Pricer AB, Uppsala
 Erik Danielsson, +46 18 18 81 00
 Thomas Landberg, +46 18 18 81 00
 or
 Grimaldi Industri AB
 Salvatore Grimaldi, +46 8 678 47 50


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Publication:Business Wire
Article Type:Article
Geographic Code:4EUSW
Date:Jul 13, 1998
Words:524
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