AGM of Bure Equity

Annual General Meeting of Bure Equity AB · Ulf Berg, Björn Björnsson, Håkan Larsson, Helena Levander and Lennart Svantesson re-elected as Board Members. · Patrik Tigerschiöld elected as new Board Member. · Resolution to authorise the sale of bought back shares. The Annual General Meeting of Bure Equity AB (publ) on 29 April 2004 discussed the following business: Election of Board of Directors Ulf Berg, Björn Björnsson, Håkan Larsson, Helena Levander and Lennart Svantesson were re-elected as Board Members. Patrik Tigerschiöld was elected as new Board Member. At the Inaugural Board Meeting after the AGM, Patrik Tigerschiöld was elected as Chairman and Håkan Larsson as Vice Chairman. The newly-elected Board Member, Patrik Tigerschiöld, born 1964, is President of the listed company, Skanditek Industriförvaltning AB. Patrik Tigerschiöld has assignments as Chairman of Vitrolife AB, The Chimney Pot AB, Theducation AB, CMA Microdialysis AB and PBK Outsourcing AB; as Vice Chairman of Axis AB; and as a Board Member of Skanditek Industriförvaltning AB, H. Lundén Kapitalförvaltning AB, MYDATA automation AB and PartnerTech AB. No dividend to be paid for the 2003 financial year. Appointment of Auditors The registered public accounting firm, Ernst & Young AB, was appointed as Auditor. Authorised Public Accountant, Björn Grundvall, will be auditor in charge with Authorised Public Accountant, Staffan Landén, deputy auditor in charge. Decision to authorise the transfer of own shares The AGM decided to authorise the Board of Directors for a term until the next Annual General Meeting to make decisions, on one or several occasions, on the transfer of the company's bought back shares. With the support of previous authorisations, the company currently holds 4,945,500 own shares, of which 3,945,500 have been bought back via an agreement with a bank, a so-called synthetic arrangement. The objective of decision is to phase out the company's holding of own shares. President's statement Lennart Svantesson gave an account of how Bure, through a programme of divestments and a reconstruction, has re-created a financial balance following the financial crisis at the beginning of 2003. During 2003, Bure focused on the following agreed priorities: (1) to achieve financial stability and reduced indebtedness (2) to focus on profitability and positive cash flows in existing holdings and (3) to create a sustainable profitable structure. These priorities continue to apply for 2004. During the second half of 2003 and the first quarter of 2004, the results of the portfolio companies have shown that action programmes and intensive work have started to pay dividends. The payment for the sale of Parere will be utilised for further amortisation of approximately SEK 260M of the long-term credit in the second quarter. As a result, approximately SEK 1,100M will have been amortised of the original credit for SEK 1,500M on the issue date. During 2004, negotiations for a new credit agreement will also take place. During 2004, Bure will continue to structure the portfolio to achieve fewer and larger holdings. The parent company's organisation and administrative costs have been streamlined and the aim is to reduce the administrative costs still further. Gothenburg, 30 April 2004 Bure Equity AB (publ) Board of Directors For further information, please contact: Lennart Svantesson, President +46 31-708 64 20 +46 733-11 00 11 Iréne Axelsson, Head of Corporate Communications +46 31-708 64 47 +46 706-32 81 83 Anders Mörck, Chief Financial Officer +46 31-708 64 41 +46 706-46 52 11 ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download: