PRESS RELEASE REGARDING INTERIM REPORT NO. 3 (2001/2002) JULY 1, 2001 – MARCH 31, 2002 FOR AB NOVESTRA (PUBL.)
SUMMARY AND FINANCIAL HIGHLIGHTS
Novestra’s shareholders’ equity amounted to MSEK 333.9 (559.5) which corresponds to a value of SEK 14.3 (23.9) per share. The Group’s cash and cash equivalents, amounted to MSEK 97.8 (191.6) which corresponds to SEK 4.2 (8.2) per share. Solidity amounted to 98.5% (90.4).
‘Novestra’s result for the period was MSEK –110.4 (–103.8) which corresponds to SEK –4.7 (–4.4) per share. Cash and strategic holdings together constitute 98% of book values.
Five of the strategic portfolio companies show positive cash flows. All eight strategic holdings are all fully financed with present business plans.
Cost savings and a new management agreement will limit management costs to approx 2.5% of book values resulting in a 40% reduction in management and administration costs.
The Board of Directors has decided to call an extraordinary shareholders’ meeting in order to elect a new Board of Directors.
For further information please contact Mr Thomas Åkerman, President, phone No. +46 8 545 017 50.
About AB Novestra
Novestra is an independent venture capital investment company with focus on investments in growth companies providing enabling network technologies and services for the communications industry. Novestra’s portfolio of companies includes B2 Bredband AB, Continuum Group Ltd, myPublisher, Inc., Netsurvey AB, Qbranch AB and Strax Holdings, Inc. Novestra’s shares are listed on the O-List of Stockholmsbörsen.
For information regarding AB Novestra, please see www.novestra.com.
Download report (PDF)