STOCKHOLM, Sweden, Feb. 14, 2003 (PRIMEZONE) -- Artimplant (Stockholm:ARTIb):
-- Artimplant issued 10 million shares in a directed issue to existing
and new institutional stockholders and owners with larger stock
holdings. The issue injected SEK 30 million into the company.
-- In the next step, the company plans to raise at least SEK 15 million
through a preferential rights issue in late March 2003.
-- Tord Lendau became the new CEO on October 3.
-- Following the new strategy the total cost of the parent company is
reduced by 40 percent. The action program leads to a considerable
reduction in the operative cash burn that is estimated to amount to
around SEK 35 million in 2003.
-- Preparations were launched for the sale of Gothenburg Medical
Center (GMC), a subsidiary.
-- Group sales increased 8% to SEK 25.7 million (23.7). Operating loss
was SEK 63 million (58.2). Loss increased primarily because of
restructuring and settlements with personnel. Restructuring cost
was SEK 6.2 million.
Forthcoming financial reports:
- 1Q 2003 report: April 30, 2003
- January-June 2003 report: August 29, 2003
- January-September 2003 report: November 7, 2003
Financial reports are available at www.artimplant.se at the same time that they're distributed to the media.
For more information, contact:
Tord Lendau, CEO +46 708 369 403 tord.lendau@artimplant.se Ulf Akerblom, Investor Relations +46 709 675 999 ulf.akerblom@artimplant.se This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: www.waymaker.net/bitonline/2003/02/14/20030214BIT00150/wkr0001.doc The full report www.waymaker.net/bitonline/2003/02/14/20030214BIT00150/wkr0002.pdf The full report