NOVESTRA DISPOSES OF HOLDING IN B2 BREDBAND
AB Novestra has come to an agreement with regard to the sale of all of its direct holding in B2 Bredband AB. The shares transferred in this transaction do not include the preferred shares held indirectly through Continuum Group Ltd. The sale will result in a minor capital gain, since in 2002 Novestra wrote down the value of these shares to SEK 0.
“After the sale, Novestra maintains an exposure to B2 Bredband AB through Continuum Group Ltd which holds approximately 14% of the outstanding preferred shares in the company. In addition, Continuum holds 25% in Bibit Billing Services N.V. and 20% in Speedera Networks, Inc. In 2002, we wrote down our book values in general. Our holding in Continuum has also been written down to a conservative level, despite the fact that Continuum’s portfolio companies have had a positive business development in generally difficult markets,” Novestra’s Managing Director, Peter Ekelund, says.
For further information please contact Peter Ekelund, Managing Director, AB Novestra, 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. Novestra’s portfolio of companies includes Explorica, Inc., MyPublisher, Inc., Netsurvey AB, Qbranch AB and Strax Holdings, Inc. as well as the co-investment vehicle Continuum Group Ltd. Novestra’s shares are listed on the O-List of Stockholmsbörsen.
For information regarding AB Novestra, please see www.novestra.com