Two general meetings of shareholders will be held, split will be 10:1
The Board has this Monday received information that the computer system of VPC AB ("VPC") can not handle more than two decimals, i.e. amounts below one öre. This information means that the pro-posal of the board, to change the nominal value of the share from one (1) krona to twelwe and a half (12,5) öre (i.e. split 8:1) can not be executed by VPC. The Board therefore instead proposes, in a re-vised notice, that the proposal of split 8:1 is omitted and that as a consequence hereof certain changes are made in other items on the agenda. The Board has furthermore decided that a new proposal, for split 10:1 of the share of the company shall be submitted, and to give notice of an extra general meeting of shareholders on 19 January 2000 to take such a decision.
The information with regard to the limitations in VPC's system has been received by the Board in such time that no changes will be necessary in the time schedule for the proposed and planned issue of new shares with priority for existing shareholders. The essential effect of the information is that two general meetings of shareholders will have to be held, instead of one, and that the relation in the split will be 10:1.
- The decision now taken is an effect only of the limitation in VPC's system and has nothing to do with the advantageous development of the stock-exchange rate of the IH share. Given the recent development in the stock-exhange rate we do however not see any disadvantage in the fact that the board now has to propose a split 10:1, says Göran Wågström, Group CEO and president of Infor-mation Highway.
The consequence of the new proposal is that the general meeting of shareholders on 10 January 2000 will be held as planned, and that a new extra general meeting will be held on 19 January 2000. The changes in the previous notice and the notice of a new general meeting of shareholders will be an-nounced in customary order in Post- and Inrikes Tidningar and in Svenska Dagbladet.
Sundbyberg 20 December 1999
Information Highway AB (publ)