STOCKHOLM, Sweden, April 18, 2002 (PRIMEZONE) -- Effnet Group AB has passed resolutions at the annual general meeting held on April 18, 2002 regarding the following.
1. The profit and loss accounts and balance sheets regarding the company and the group were adopted.
2. The board of directors and the managing director were discharged from liability.
3. Magnus Ryde, Svante Carlsson, Goran E Larsson and Hans Runesten were reelected.
The board of directors consists of the following members:
-- Magnus Ryde -- Svante Carlsson -- Goran E Larsson -- Hans Runesten
4. The annual general meeting resolved to authorize the board of directors to, not later than at the next annual general meeting, withstanding or notwithstanding the shareholders' pre-emptive rights, at one or more occasions, to issue shares and/or issue instruments of convertible debentures or debentures with detachable warrants, for cash payment, payment in kind or by set-offs. The board of directors may not use the authorization in such way which results in the number of issued shares and the number of shares which in addition to this can be issue by convertible debentures or be subscribed due to issued warrants exceeds a total of 13,700,000 shares, whereby in all a total of not more than 5,00,000 shares may refer to shares added through cash issue, convertible debentures or debentures with warrants.
5. The annual general meeting resolved to adopt an option program, which implies that the members of the board Goran E Larsson and Magnus Ryde each receive 250,000, warrants (Sw. personaloptioner) that each gives the holder the right to acquire one share in the company.
6. The annual general meeting resolved to authorize the board of directors to issue instruments of debentures with a total of not more than 2,071,000 detachable warrants to new share issue in the company relating to the company's global option program.
7. At the constitution board meeting Magnus Ryde was appointed chairman of the board.
About Effnet
Effnet innovates and licenses award-winning technologies that resolve data speed, efficiency and security challenges in Internet Protocol (IP) networking. Effnet's IP packet processing technologies enable optimum performance. Founded by leading researchers in the field of Header Compression, the company operates in Stockholm, Sweden and Tucson, Arizona. Effnet Group AB shares are traded on Sweden's Nya Marknaden (symbol: EFFN). Read more about Effnet at the company's website: www.effnet.com.
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