This press release may not be published or distributed in the United States of America or Canada.<\/p>\n
NOTE is listed on the O-list of the Stockholm Stock Exchange<\/p>\n
-Selling price SEK 75 per share<\/p>\n
-The offer comprises approximately SEK 154 million, divided into 2 051 160
\n shares, corresponding to 21.3 % of the share capital and votes in NOTE AB<\/p>\n
-Estimated first day of trading on the O-list of the Stockholm Stock Exchange is 23 June 2004<\/p>\n
-The registration period runs from 1 to 14 June 2004<\/p>\n
The NOTE group, which is one of Sweden's leading contract manufacturers of
\nelectronics, has grown strongly with good profitability since its formation in 1999.
\nIn order to facilitate continued expansion, the Board of Directors of NOTE AB
\ndecided to apply for listing on the O-list of the Stockholm Stock Exchange.<\/p>\n
The NOTE group offers specialist expertise in electronics production
\nthroughout the value chain; from design and development through manufacturing to
\naftermarket services. Net sales for 2003 totalled 859
\nmillion and profit before tax to SEK 63 million.
\nIn the first quarter of 2004, net sales and profit totalled 286
\nand SEK 20 million respectively.<\/p>\n
- It is part of NOTE's business plan to apply our business model to
\ndefined markets in Europe, so our ambitions go far beyond
\nfurther than Sweden. Our long-term goal is to be, within a few years
\none of Europe's leading specialised partners in electronics manufacturing.
\nCurrently, access to capital is a limiting factor for
\ncontinued strong performance, therefore we are betting on a listing on
\nStockholm Stock Exchange. This will enable further high growth for
\nus,\" says Erik Stenfors, CEO of NOTE AB.<\/p>\n
NOTE in brief
\nNOTE has its origins in the company EuroSupply Nordic AB, which was formed by
\nSten Dybeck and Erik Stenfors in 1999. In March 2000, EuroSupply
\nNordic AB together with Elektronikbyggarna i Norrt\u00e4lje AB, whose subsidiary,
\nNorrtelje Elektronik AB, had more than 15 years of experience in
\nelectronics manufacturing. This laid the foundation for today's NOTE.
\nSince 2000, the business has been gradually built up through a
\ncombination of organic growth and strategic acquisitions. This has
\noccurred during a period characterised by a general decline in the
\nmajor contract manufacturers. However, NOTE has, as a result of its
\nsuccessful business model has been able to grow and deliver improved annual
\nmargins. Today, NOTE is one of the Nordic region's largest contract manufacturers with
\nactivities in interesting geographical regions, as well as in strategic
\nselected industry segments in Sweden. Most of the manufacturing is carried out
\nat production sites in Sweden, Lithuania and Poland. Through the ems
\nALLIANCE, a self-initiated network of electronics manufacturers, offers
\nmarket-oriented production on four continents.<\/p>\n
Net sales for 2003 totalled SEK 859 million and
\nprofit before tax to SEK 63 million. For the first quarter of 2004
\nnet sales and profit before tax totalled 286 and
\nSEK 20 million. The number of employees in the Group as at 31 March was
\n2004 to 919.<\/p>\n
Facts about the offer
\nThe offer comprises a total of 2,051,160 shares, in the form of 1,334,000
\nnewly issued shares (the \"Share Issue\") and 717,160 existing shares,
\nwhich are held by some of NOTE AB's existing owners. The sales price
\nis SEK 75 per share.<\/p>\n
The offered shares correspond to 21.3 per cent of the capital and votes in NOTE
\nAB, assuming a fully subscribed rights issue.
\nAfter the New Issue, the number of shares will amount to 9 624 200, each
\nat a nominal amount of SEK 0.50.<\/p>\n
Provided that the New Issue is fully subscribed, NOTE AB will receive approximately
\nSEK 100 million before deduction of issue costs.<\/p>\n
Major shareholders, board members and senior executives,
\ntogether representing 36.1 per cent of the shares in NOTE AB, have
\nundertakes not to engage in any activity without the prior consent of Hagstr\u00f6mer &
\nQviberg to divest further shares held by them in NOTE AB until
\nat the earliest 12 months after the first day of listing.<\/p>\n
Hagstr\u00f6mer & Qviberg Fondkommission AB (\"Hagstr\u00f6mer & Qviberg\") acts as
\nas the Company's financial advisor in connection with the Offer.
\nThe prospectus and application form are available at NOTE's head office,
\nStockholmsv\u00e4gen 59, 761 29 Norrt\u00e4lje and at Hagstr\u00f6mer & Qviberg,
\nNorrlandsgatan 15, 103 71 Stockholm. Prospectus and application form can be
\ncan also be ordered by phone +46 08 700 0010 and downloaded from NOTE's
\nwebsite, www.note.se\/prospekt or the Hagstr\u00f6mer & Qviberg website,
\nwww.hagqvi.com.<\/p>\n
Timetable
\nPublication of prospectus: 26 May 2004<\/p>\n
Application period: 1 - 14 June 2004<\/p>\n
First day of trading: around 23 June 2004<\/p>\n
For further information
\nErik Stenfors, CEO NOTE AB
\nTelephone: +46 (0)176-799 01 or (0)709-50 80 70<\/p>\n
Mette Franek, Chief Information Officer NOTE AB
\nTelephone: +46 (0)176-799 03 or (0)709-58 81 54<\/p>\n
Johan Unger, Hagstr\u00f6mer & Qviberg Fondkommission AB
\nTelephone: +46 (0)8-696 19 33 or (0)704-86 19 33<\/p>\n
Neither the shares, nor the paid and subscribed shares in NOTE AB are
\nis the subject of trade or an application for trade in a country other than Sweden, and has
\nconsequently not registered and will not be registered in
\nin accordance with the United States Securities Act of 1933 (\"Securities Act\")
\nor any province of Canada and may not be transferred or offered
\nfor sale in the United States of America or in Canada or to
\npersons resident there or on behalf of such persons other than in
\nexceptional cases that do not require registration under the Securities Act
\nor any province in Canada.<\/p>\n
The offer is not otherwise directed to such persons whose
\nparticipation requires additional prospectuses, registration or other
\nmeasures than those required by Swedish law. Prospectuses may not be distributed
\nin any country where the distribution or offer requires action under
\npreceding sentence or contrary to the rules of such country. Notification of
\nsubscription of shares contrary to the above may be deemed to be
\nnull and void. Any dispute or claim, of whatever nature,
\narising out of the content or dissemination of this
\nprospectus and\/or the offer in general and all related
\nmatters shall be decided exclusively by a Swedish court with exclusive
\napplication of Swedish law.<\/p>\n
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\nThis information was sent by Waymaker http:\/\/www.waymaker.se
\nThe following files are available for download:
\nhttp:\/\/www.waymaker.net\/bitonline\/2004\/05\/26\/20040526BIT00130\/wkr0001.pdf<\/p>\n