Reduction of the statutory reserve and distribution of Deltaco
In accordance with the Board’s proposal, the extraordinary general meeting has passed a resolution to reduce the statutory reserve in Intoi AB (publ) by SEK 270,200,041 for repayment to the shareholders through the distribution in kind of all shares in the subsidiary TurnIT AB (under name change to Deltaco AB) and a transfer to non-restricted reserves to be used according to the decision of the general meeting.
The reduction decision may not be implemented until Intoi AB (publ) has obtained permission from the Swedish Companies Registration Office or, in case of dispute, from a general court of law. The Board’s assessment is that it will be possible to implement the reduction decision during the first half of the second quarter of 2011.
The extraordinary general meeting authorised the Board to set the record date for the distribution in kind as soon as permission to implement the decision to reduce the statutory reserve has been granted.
The distribution of the shares in Deltaco is covered by the so-called Lex ASEA rule, which means that it is tax-exempt in Sweden. In the distribution, each share in Intoi AB (publ), regardless of share class, gives the holder the right to one share in Deltaco.
In connection with the distribution, the intention is to register the Deltaco shares for trading on the First North marketplace. This is expected to commence with the first day of trading during the first half of the second quarter of 2011.
Stockholm, Friday, 14 January 2001
The Board of Directors
Intoi AB (publ)
For more information contact:
Stefan Skarin CEO of INTOI
mobile: +46 708 65 10 05
Peter Larsson Chairman of INTOI
mobile: +46 708 32 72 68
Intoi AB (publ) was founded in 1985 and is listed on the NASDAQ OMX Stockholm, Small Cap. Intoi's business idea is to create value through acquisition, active ownership and divestment of IT companies. Intoi owns and develops IAR System, Deltaco and Northern, all of which have innovative technologies, large potential and scalable business models. Intoi is propelling technology by actively developing the sales strategy, product offering and corporate governance in IT-companies.