LUND, Sweden, April 25, 2003 (PRIMEZONE) -- The Board of Directors of Precise Biometrics AB (publ) (Other OTC:PBMTF) has given the following proposal for the Extraordinary General Meeting on Friday May 9, 2003 at 10 a.m. at the company's premises at Scheelevagen 19 C, Lund, Sweden:
Authorization for the Board of Directors to resolve upon new share issues and/or issues of convertible debentures
The Board of Directors is proposed to be authorized to, for the period until the next Annual General Meeting, adopt one or more resolutions regarding new share issues and/or issues of convertible debentures with preferential rights for the shareholders. In total, the issues may provide the company with an issue payment of maximum SEK 30,000,000.
The motive for the new share issue is Precise Biometrics' sales success on the U.S. market, which has led to an increase in capital tied up mainly in production and accounts receivables, which in turn has resulted in an increased need for working capital. The company also aims to strengthen its resources on the US market to be able to capitalize on this market's potential even further.
Extraordinary General Meeting in Precise Biometrics AB
The shareholders of Precise Biometrics AB (publ), 556545-6596, are hereby invited to attend the Extraordinary General Meeting to be held at 10 a.m. on Friday May 9, 2003, at the Company's premises at Scheelevagen 19 C, Lund, Sweden.
A. RIGHT TO PARTICIPATE
Shareholders who wish to attend the Extraordinary General Meeting must:
(i) be recorded in the shareholders' register maintained by the
Swedish Securities Register Centre ("VPC"), on Tuesday,
April 29, 2003; and
(ii) notify the Company of their intent to attend the Meeting by
mail to the address: Precise Biometrics AB (publ),
Scheelevagen 19 C, SE-223 70 LUND, Sweden, by
telephone +46 46 31 11 14, by telefax +46 46 31 11 01,
or by e-mail: investor@precisebiometrics.com by 4 p.m.,
Monday May 5, 2003 at the latest.
When giving notice of attendance, the shareholder shall state name, personal code number (corporate identity number), address and telephone number. Proxy to act on behalf of a shareholder shall be sent to the Company together with the notice of attendance. Any representative of a legal entity shall submit a copy of the registration certificate or the corresponding documents of authorization.
In order to participate in the proceedings of the Extraordinary General Meeting, shareholders with nominee-registered shares should request their bank or broker to have the shares temporarily owner-registered with VPC. Such registration must be made on Tuesday April 29, 2003 at the latest, and the bank or broker should be notified thereof in due time before said date.
B. PROPOSAL FOR AGENDA
1. Opening of the Meeting.
2. Election of chairman to preside at the Meeting.
3. Preparation and approval of the voting list.
4. Approval of the agenda.
5. Election of persons to attest the minutes.
6. Determination of whether the Meeting has been properly
convened.
7. Presentation of copies of the most recent Annual Report and
Auditor's Report as well as the Reports by the Board of
Directors according to Chapter 4 of the Swedish Companies Act
and the Statement of Auditor.
8. Resolution to authorise the Board of Directors to resolve
upon new share issues and/or issues of convertible debentures.
9. Closing of the Meeting.
The Board of Directors propose that the General Meeting authorize the Board of Directors to, for the period until the next Annual General Meeting, adopt one or more resolutions regarding new share issues and/or issues of convertible debentures with preferential rights for the shareholders. In total, the issues may provide the company with an issue payment of maximum SEK 30,000,000.
C. AVAILABLE DOCUMENTATION
The complete proposal of the Board of Directors as well as other documents according to the Swedish Companies Act will, as from May 2, 2003 be available at the Company and its home page www.precisebiometrics.com. Copies hereof will also be sent to shareholders upon their request and will be available at the General Meeting.
Precise Biometrics AB is an innovative security company that supplies world-leading systems for authentication using fingerprints. The solutions supplied by the company replace keys, PIN codes and passwords. The company's products are cost effective and provide security and comfort combined with top-class protection of personal integrity. The range of products includes systems for access control to computers and networks and for building into mobile and terminals, such as mobile phones and portable computers. The company headquarters are in Lund, Sweden. The company also has offices in Stockholm and a U.S. subsidiary in Washington, D.C. Precise Biometrics is listed on the O-list of the Stockholm Stock Exchange (symbol: PREC A).
For more information about Precise Biometrics, visit http://www.precisebiometrics.com/