Cybercom carries out fully guaranteed rights issue of SEK 100 million


2009-05-20, 13:29
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG OR JAPAN FÅR INTE OFFENTLIGGÖRAS, PUBLICERAS ELLER DISTRIBUERAS I USA, KANADA, AUSTRALIEN, HONG KONG ELLER JAPAN • New share issue not to exceed SEK 100 million with pre-emptive rights for Cybercom shareholders • New share issue terms 2:5 • Subscription price of SEK 10.15 per share • Subscription period 2 – 16 June • The issue is fully guaranteed through subscription commitments and underwriting guarantee

Background and rationale
The global economic slowdown made an impact on the Nordic market for IT consultancy services in 2009. As a result, Cybercom’s board believes the company should take proactive measures to strengthen Cybercom's financial position so the company can emerge with strength from today’s economic downturn. Cybercom’s international expansion has increased its number of international customers. This in turn increases its need for working capital, since many customers apply longer payment periods in the current market situation. The board wants to reinforce Cybercom’s ability to actively continue to grow on the global market. In the past two years, Cybercom has grown significantly abroad, and following its 2007 and 2008 expansion, Cybercom is now a key player in the Nordic IT market.

To fortify the company’s financial position, the board has decided upon a new issue of shares of no more than SEK 100 million with preferential rights for Cybercom’s shareholders. The board intends to use part of the proceeds to adapt the company’s capital structure by reducing Cybercom’s net debt, thus fortifying the company's financial position. Of the maximum share capital increase of SEK 100 million prior to transaction costs, SEK 50 million will be used to make an extra amortisation payment on bank loans. The remaining issue capital, about SEK 50 million prior to transaction costs, will be used to fortify Cybercom’s liquidity.

Issue terms
Cybercom’s board of directors decided on 20 May 2009 to implement a new share issue with preferential rights for its shareholders of no more than 9 833 936 shares. Participants at the 28 April 2009 AGM authorised Cybercom's board to make this decision. Company shareholders shall be entitled to subscribe for 2 new shares for every 5 shares held in Cybercom at a subscription price of SEK 10.15 per share. The subscription period is 2 June – 16 June 2009. If fully subscribed, the guaranteed preferential rights issue will increase Cybercom’s total share capital to SEK 34 418 776 and total number of shares to 34 418 776. The share issue, if fully subscribed, will provide a total injection of about SEK 100 million prior to transaction costs.

Subscription commitment and underwriting guarantee
Cybercom’s largest shareholders together representing about 53 percent of share capital and votes, have undertaken to subscribe for shares equivalent to their respective portions in the rights issue. In addition, J Christer Ericsson via company has entered into an agreement which includes an undertaking to subscribe, to the above stated conditions, for additional shares corresponding to approximately 47 percent of the rights issue. 100 percent of the rights issue is committed and guaranteed.

Preliminary schedule for preferential rights issue

Resolution to issue shares: 20 May 2009

The share is traded including the right
to participate in the issue: 25 May 2009

The share is traded exclusive the right
to participate in the issue: 26 May 2009

The record date for participation in new share issue, i.e.
shareholders registered in Cybercom’s share holder register
on this date will retain subscription rights for participation: 28 May 2009

The prospectus will be made public: Around 28 May 2009

Trade with subscription rights: 2 June – 11 June 2009

Trade with paid and subscribed shares (BTA): 2 June 2009 until the issue is registered with the Swedish Companies Registration Office

Subscription period: 2 June – 16 June 2009

For other information, Cybercom refers to the prospectus for the guaranteed preferential rights issue
Danske Markets is Cybercom’s financial advisor in conjunction with the guaranteed preferential rights issue.

Stockholm, 20 May 2009
Cybercom Group Europe AB (publ.)
The board

This is information Cybercom is required to make public as per the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on 20 May 2009 at 12.00 AM.

Find out more, contact:

Patrik Boman, president and CEO, Cybercom Group +46 739 83 89 79
Odd Bolin, CFO, Cybercom Group +46 704 28 31 73
Kristina Cato, communications director and IR manager, Cybercom Group +46 708 64 47 02

About Cybercom
The Cybercom Group is a high-tech consultancy that offers global sourcing for end-to-end solutions. The Group established itself as a world-class supplier in these segments: telecom management, security, portal solutions, mobile services, and embedded systems. Thanks to its extensive industry and operations experience, Cybercom can offer strategic and technological expertise to these markets: telecom, industry, media, public sector, retail, and banking and financial services. The Group employs 2000 persons and runs projects worldwide. Cybercom has 24 offices in 10 countries. Since 1999, Cybercom’s share has been quoted on the OMX Nordic Exchange. The company was launched in 1995. Find out more at: www.cybercom.com.

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