As previously announced, the Board of AB Novestra (publ) (“Novestra” or the “Company”) has proposed a distribution of 371,879 shares in the portfolio company WeSC (publ) (“WeSC”) through a redemption procedure. The Board has summoned an Extraordinary general meeting to be held on December 22, 2010, to resolve upon the distribution.
The Board of Novestra has prepared an information brochure regarding the distribution of shares in WeSC (in Swedish). The brochure is now available at www.novestra.com, as well as at www.remium.com.
A printed copy of the brochure can be ordered from the Company by phone +46 8 545 017 50 or through Remium by phone +46 8 454 32 00.
Shareholders whose shares are registered under the name of a nominee should contact the nominee for further information and instructions.
Terms in summary
• Each Novestra share is divided into two (2) shares, one (1) regular share and one (1) redemption share.
• Record date for the share split and receipt of the redemption share is January 12, 2011.
• For every one hundred (100) redemption shares in Novestra one (1) share in WeSC will be distributed at redemption.
• To facilitate for shareholders to receive a whole number of shares in WeSC, shareholders will be given the opportunity to acquire, free of commission, a number of redemption shares leaving the shareholder with 1 000 redemption shares after such acquisition.
• To ensure that shareholders will not receive smaller posts than 10 shares in WeSC, if the number of redemption shares is smaller than one thousand (1 000), these shares will be sold free of commission and the proceeds will be paid in cash to the shareholder, unless the shareholder has made the choice to receive the shares in WeSC regardless of the number of the shares.
• Excess redemption shares will be sold by Remium, and the proceeds will be distributed on a pro-rata basis to the holders of excess redemption shares.
• The redemption procedure will not require any action from the shareholder. It may be an advantage from a tax perspective for foreign shareholders to divest the redemption share rather than holding them until redemption.
• The record date for redeeming the redemption shares is February 9, 2011. Euroclear Sweden AB is expected to execute the distribution of the shares in WeSC starting February 11, 2011.
For further information please contact Johan Heijbel, Managing Director, AB Novestra, phone no. +46 8 545 01750.
About AB Novestra
Novestra is an independent investment company with a portfolio of investments in a number of privately held growth companies including Diino AB, Explorica, Inc., MyPublisher, Inc., Netsurvey AB, Qbranch AB and Strax Group GmbH. In addition, Novestra has an investment corresponding to approximately 11 percent of the shares in WeSC AB, listed on First North.
The Novestra shares are listed on the Nasdaq OMX Stockholm, under the symbol NOVE, in the Small Cap section. For further information regarding AB Novestra, reference is made to www.novestra.com
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