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ÅF Group raises SEK 54 million via convertible subordinated loan

On 28 April 2005 the annual general meeting of shareholders in AB Ångpanneföreningen (ÅF) resolved to raise a convertible subordinated loan through the issue of convertible bonds directed at the ÅF Group's permanent employees in Sweden, Finland and Norway.
It is now clear that the sum of convertible bonds that the group's employees have subscribed for amounts to approximately SEK 54 million (equivalent to some EUR 5.7 million). The conversion price has been set at SEK 172 (approx. EUR 18.25).
On full conversion, share capital will increase by SEK 6,250,000 (approx. EUR 662,000) and the number of shares will increase by 312,500. This is equivalent to a dilution effect of a maximum of approximately 5.0 percent of the share capital and 3.2 percent of the votes.
AB Ångpanneföreningen
Corporate Information

The ÅF Group is a leading name in technical consulting. We offer highly qualified services and solutions for process industries, infrastructure projects and the development of products and IT systems. We also carry out certified third-party testing and inspection work. <!-- hugin-supplied --><br> Our proven proficiency in engineering is founded on the in-depth specialist knowledge of many branches of industry that we have built up over more than one hundred years. Today the ÅF Group comprises almost 2,700 employees based in some 50 locations in Sweden and in almost a dozen other European countries.