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Retirement of repurchased shares

pressmeddelande 2001-09-11 13:00

Retirement of repurchased shares

The Board of JM AB decided today to propose that an extraordinary
meeting of shareholders to be held on 17 October 2001 approve a
cancellation of the 3,324,100 shares repurchased by JM during the
current year (corresponding to 10 per cent of the total number of shares
in the company) through retirement.

The object of the retirement is to create opportunities for
redistribution of capital through additional share buy-backs in
connection with ongoing property sales.

When the retirement is completed, which is expected to take place in mid-
November, JM will no longer hold any of its own shares. This will create
scope for further share buy-backs as approved by the annual general
meeting in April this year, whereby the Board was authorized to
repurchase shares so that JM holds no more than 10 per cent of all
shares in the company at any given time.

As part of the retirement of the repurchased shares and in order to
expedite the administrative process, the Board proposes a directed issue
of 3,324,100 redeemable shares of a new class C to Handelsbanken, to be
subscribed for in a nominal amount of SEK 13,296,400. It is proposed
that these shares be redeemed for an essentially corresponding amount.

"Retirement of the repurchased shares would enable the Board to follow
up future property sales with a redistribution capital through share buy-
backs as a means for maintaining a suitable capital structure for the
company", says JM's President and CEO Carl Eric Stålberg.

For additional information, please contact CFO Claes Magnus Åkesson,
telephone +46 8 782 89 71.

Stockholm, 11 September 2001
JM AB
Group Staff Corporate Communications

This and earlier press releases are also available at www.jm.se

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