In its capacity as issuer, Pricer AB is releasing the information in this press release in accordance with the Swedish Securities Exchange Act (2007:528). The information was distributed to the media for publication at 10.30 am CET on Thursday March 26th, 2009.
Pricer AB (publ) repays one half and extends the other half of the remaining convertible loans of 44.9 MSEK total. The Board has decided for this division of the loans based on the current cash position of Pricer including available credit facilities and decided for a balanced split in view of the prevailing credit climate.
The Board of Pricer decided on March 26th, 2009, subject to approval by the Annual General meeting, to change the terms of the convertible loans amounting to 22.45 MSEK. The loans are currently held as follows:
Monterro Holdings Ltd
Tedde Jeansson Sr
Kastensson Holding AB
The loans will after the changes mature on June 30th, 2010, carry a yearly interest of 8 percent and can be converted to shares in Pricer at a rate based on the market rate of the Pricer share during 10 trading days before the AGM on April 24 th, however, not higher than the current strike price of 0.70 SEK. With today’s rate of 0.53 SEK this would lead to a dilution of about 4 percent. In addition the terms of the convertible loans are adjusted to the current financial standing of Pricer. There are no other changes to the conditions of the loans.
Pricer will repay the other remaining half of the loans of 22.45 MSEK on maturity on April 19th, 2009.
The Board proposes the shareholders at the AGM on April 24th to approve of the changes to the terms of the convertible loans.
Kastensson Holding AB is owned by Bo Kastensson and Peter Larsson owns less than 5 percent of Monterro Holdings Ltd, both being members of the Board of Pricer AB.