STOCKHOLM, Sweden, Oct. 07, 2003 (PRIMEZONE) -- At a meeting on Monday, Skandia's (Other OTC:SKNFF) (LSE:SDIAq) board of directors received preliminary information from the special investigative panel that is being headed by Attorney Otto Rydbeck and Authorized Public Accountant Goran Tidstrom.
The information, which pertains to costs for residential apartments, gives the Board reason to consider legal action by Skandia against a limited number of former senior executives. None of these persons are working for Skandia any longer. The Board also decided to take action to secure payment.
The Board has decided to commission Otto Rydbeck with the task of looking into which legal and other action should be taken.
Bengt Braun, Chairman of the Board, comments:
-- The information we have received is serious. However, it should bestressed that the information at hand does not have any financial impacton Skandia's position or on Skandia's or Skandia Liv's customers.
As previously announced, the special investigative panel's report will be made public once it has been completed.
A press conference with Skandia's chairman, Bengt Braun, and Attorney Otto Rydbeck will be held at 9 a.m. at Skandia, Sveavagen 44, Stockholm.
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The following files are available for download:
http://www.waymaker.net/bitonline/2003/10/07/20031007BIT00030/wkr0001.doc
http://www.waymaker.net/bitonline/2003/10/07/20031007BIT00030/wkr0002.pdf