On February 4th, 2009 the Board of Directors of Metro International
has resolved to ask for general meeting of shareholders'
authorization to raise approximately SEK 550 million through a new
issue of Swedish Depository Receipts (SDRs) over subordinated
debentures and over warrants, both with preferential rights for
existing holders of series A or series B SDRs over Metro
International's shares. The Board of Directors has resolved to summon
an Extraordinary General Meeting to be held on 24th February 2009.
Investment AB Kinnevik has, subject to certain conditions, undertaken
to fully underwrite the contemplated new issue of debentures and
warrants.
The full terms and conditions of the new issue of SDRs over shares
and warrants will be decided by the Board of Directors of Metro
International following the general meeting of shareholders described
above provided that the meeting authorizes the Board of Directors to
do so. The present intention is to be able to announce such terms and
conditions for the new issue on or around February 25th 2009.
More information regarding the contemplated rights issue is available
in the separate notice to the Extraordinary General Meeting (attached
hereto as a pdf-file) as well as in the Q4 report 2008. As set out in
the attached notice, the Board of Directors furthermore proposes
various other resolutions to be passed at the general meeting on the
24th February 2009. These other resolutions are primarily proposed as
a result of the upcoming new issue of SDRs over shares and warrants,
such as the share capital reduction down to a share capital of EUR
1,000,000 without cancellation of shares.
For further information please contact:
Per Mikael Jensen, CEO and President tel: +44 (0)20 7016 1300
Anders Kronborg, CFO tel: +44 (0)79 125 40800
***
ABOUT METRO INTERNATIONAL AND METRO
Metro is the largest international newspaper in the world. Metro is
published in over 100 major cities in 20 countries across Europe,
North & South America and Asia. Metro has a unique global reach -
attracting a young, active, well-educated Metropolitan audience of
over 20 million daily readers. Metro's advertising sales have grown
at a compound annual rate of 38% since the launch of the first
edition in 1995.
Metro International 'A' and 'B' shares are listed on the OMX Nordic
Exchange's Nordic List under the symbols MTRO SBD A and MTRO SBD B.
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
http://hugin.info/132142/R/1287672/289329.pdf
Copyright © Hugin AS 2009. All rights reserved.
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