The Annual General Meeting held on May 4th, 2011 authorized the Board of Directors to conduct a reverse split of shares with one (1) new share for every ten (10) existing shares. The Board has decided that the record date for the reverse split will be May 23rd. The last day for trading the old number of shares is May 18th and the first day for trading the new number of shares is May 19th.
As a consequence of the reverse split, the number of shares will decrease from 1,067,028,040 to 106,702,804 and par value will increase from 0.10 Swedish krona to 1.00 Swedish krona.
If a shareholder owns old class B shares not fully corresponding to a full new share, the odd lot will be transferred to Pricer to be sold in the market at the expense of the company. The received payment will then be distributed between those shareholders who owned shares at the time of the transfer to Pricer on a pro rata basis. The total number of class B shares acquired by Pricer due to this transaction is so low that their sale on the market will not have a significant effect on the share price.
For further information, please contact:
Harald Bauer, CFO at Pricer AB: +46 8 505 582 00
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 17:00 hrs CET on Tuesday, May 17th, 2011.
Pricer provides the retail industry’s leading electronic display and Electronic Shelf Label (ESL) platform, solutions, and services for intelligently communicating, managing, and optimizing price and product information on the retail floor. Pricer is the only company today offering a communication platform that supports both segment based ESL and pixel-based ESL. The platform is based on a two-way communication protocol to ensure a complete traceability and effective management of resources. The Pricer system significantly improves consumer benefit and store productivity by simplifying work in the store.
Pricer, founded in 1991 in Uppsala, Sweden, offers the most complete and scalable ESL solution. Pricer has installations in more than 40 countries with the largest ESL world market share. Customers include many of the world’s top retailers and some of the foremost retail chains in Europe, Japan and the USA. Pricer, in co-operation with qualified partners, offers a totally integrated solution together with supplementary products, applications and services.
Pricer AB (publ.) is quoted on the Nordic Small Cap list of OMX. For further information, please visit www.pricer.com
Telephone: +46 8 505 582 00