Annual General Meeting in New Wave Group AB (publ)


STOCKHOLM, Sweden, June 19, 2002 (PRIMEZONE) -- At the annual general meeting in New Wave Group AB today, the following was decided, among other things:


-    Dividend to the shareholders of SEK 3 per share with 25 June 2002
     as record date.

-    Re-election of Hakan Thylen, Torsten Jansson, Lennart Bohlin and
     Hans Johansson as board members.

-    Reduction of the shares par value from SEK 1 to SEK 0.50 (Split
     2:1) with 1 August 2002 as record date, meaning that 30 July 2002
     will be the first trading day applying the new par value

-    Authorization of the board to make a new issue of up to 1,500,000
     shares of class B in the company with a par nominal value of SEK
     0.50, with or without shareholders subscription privilege and with
     or without stipulation of capital contributed in kind, setoff
     or other stipulation as mentioned in Chapter 4 # 6, first 
     paragraph, in the Companies Act.

-    A loan up to a limit of SEK 25 will be raised through the issue of
    debentures to the subsidiary New Wave Retailing Stockholm AB coupled
    with 300 000 separable share option rights for subscription up to
    a limit of 300 000 new B-shares having a par value of SEK 0.50 in 
    the company. Also the further transfer of the separated share
    option rights from New Wave Retailing Stockholm AB to employees
    in leading positions within the group were approved.

Complete documentation regarding the issues mentioned above is available at the company.

In a speech, the CEO, Torsten Jansson, accounted for the future and the goals of New Wave Group, which are;



-    To become the largest and best company in Europe with regard to
     promotional business,

-    To acquire a significant market-position within promotional gifts
      and work wear, and

-    To continue build Craft, Umbro and Seger to big actors in
     sportswear in Sweden and other countries.

The CEO held the opinion that New Wave Group has a strong position and a bright future, but that variations down can occur between different quarters. The CEO also stated that the deteriorated state of the market has lead to an irregular sales development during the last year, as example, the result for May 2002 was acceptable, but lower than the result for April 2002, but the forecast that the group's result 2002 will be improved compared with the result 2001 remains.

The CEO's speech is published in is entirety at the home page of New Wave Group: http://www.nwg.se

Boras on 19 June 2002

New Wave Group AB (publ) The board

For more information, please contact:


Torsten Jansson                CEO, New Wave Group
Tel: +46 (0)708 99 80 50, +46 (0)33 22 58 55

Goran Harstedt                 dCEO, New Wave Group
Tel: +46 (0)708 99 80 17, +46 (0)33 22 58 63

This information was brought to you by Waymaker http://www.waymaker.net

The following files are available for download:

http://www.waymaker.net/bitonline/2002/06/19/20020619BIT01610/wkr0001.doc http://www.waymaker.net/bitonline/2002/06/19/20020619BIT01610/wkr0002.pdf


Mot-clé