Swedish Match shareholders approve dividend hike to 1.60 SEK
- Dividend will increase from 1.45 SEK/share to 1.60 SEK
- Election of Marianne Nilsson and Staffan Grefbäck to the Nominating Committee
- 10 Million shares repurchased by the Company are authorized to be withdrawn
- Mandate to repurchase up to 10 percent of all shares in the Company prolonged
Shareholders have re-elected Bernt Magnusson (Chairman), Jan Blomberg, Tuve Johannesson, Arne Jurbrant, Lennart Sundén (President and CEO), Meg Tivéus, and Klaus Unger to the Board of Directors.
Furthermore, the shareholders approved an authorization for a reduction in the Company's share capital by 24,000,000 SEK through withdrawal of 10,000,000 shares in the Company. The shares in the Company to be withdrawn have been repurchased by the Company in accordance with previous shareholder authorization.
Shareholders approved an authorization to decide, prior to the next Annual General Meeting, to acquire a maximum of as many shares as may be acquired without the Company's holding at any time exceeding 10 percent of all shares in the Company. The shares shall be acquired on the Stockholmsbörsen at a price within the price interval registered at any given time (market price).
The meeting also resolved to allow the Company to issue up to 1,428,490 call options to a combined value of 12 MSEK, which corresponds to the value of options allocated in accordance with the Company's options program for 2002.
In addition, shareholders approved all other proposals made by the Board of Directors as outlined in the published notice of the Annual General Meeting for Swedish Match AB.
Swedish Match is an international group with headquarters in Stockholm, Sweden. The company manufactures a broad range of tobacco products, matches and disposable lighters which are sold in approximately 140 countries. Sales for the twelve month period ending March 31, 2003 amounted to 13,332 MSEK. Swedish Match is listed on Stockholmsbörsen (SWMA) and on NASDAQ (SWMAY).
For further information, please contact:
| Lennart Sundén, President and Chief Executive Officer | office | +46 8 658 01 75 |
| Sven Hindrikes, Executive Vice President and | office | +46 8 658 02 82 |
| Chief Financial Officer | mobile | +46 70 567 41 76 |
| Bo Aulin, Senior Vice President, Secretary | office | +46 8 658 03 64 |
| and General Counsel | mobile | +46 70 558 03 64 |
| Emmett Harrison, Vice President, Investor Relations | office | +46 8 658 01 73 |
| mobile | +46 70 938 01 73 | |
| Lin McKinnie, Vice President, Investor Relations (US) | office | +1 804 302 1912 |
| mobile | +1 804 502 1912 |
