At the Annual General Meeting on April 26, 2005, AB Novestra’s Board of Directors will propose a gradual divestment of its venture portfolio to take place until the year- end 2007. Revenues from the divestments are to be distributed to the company’s shareholders. At the end of the three-year period, Novestra shall consist of two or three consolidated holdings.
Simultaneously, the Board proposes that Novestra’s investments in public companies be made through a new fund structure with a larger capital base, where investment participation together with other investors, will enable larger investments and thereby increased influence in the companies in which investments are made. Novestra’s shares in the new fund structure, or the cash equivalent thereof, will also be distributed to the shareholders within a few years.
“Novestra’s operations have, in many respects, been very similar to a fund and this is a way to let our shareholders share the results of the investments in young growth companies that we have focused on in the past years. We believe that we, during the coming years, will see opportunities to exit some of these investments and pay out the revenues from theses sales as dividends. We also believe that the remaining consolidated holdings will represent an interesting and significant value for our shareholders,” Novestra’s Chairman, Theodor Dalenson, says.
For further information please contact Mr Theodor Dalenson, Chairman, phone No. +46 8 545 017 50.
About AB Novestra
Novestra is an independent investment company with a portfolio of small cap private as well as public companies. Novestra focuses on investing in companies with substantial growth or value potential.
Novestra’s portfolio of companies consists of i.a. Bytek Systems AB, Explorica, Inc., IBS AB (publ), inWarehouse AB (publ), Lagercrantz Group AB (publ), MyPublisher, Inc., Netsurvey AB,
Pergo AB (publ), Qbranch AB and Strax Holdings, Inc. as well as Speedera Networks, Inc. through the co-investment vehicle Continuum Group Ltd. The Novestra shares are listed on the O List of the Stockholm Stock Exchange.
For further information regarding AB Novestra, please see www.novestra.com .