SOURCE: Precise Biometrics AB

March 17, 2008 08:11 ET

AHEAD OF THE ANNUAL GENERAL MEETING IN PRECISE BIOMETRICS AB

LUND, SWEDEN--(Marketwire - March 17, 2008) -


The Annual General Meeting will be held at 4 p.m. on Tuesday April 22, 2008, at Scandic Hotel Star, Glimmervägen 5, Lund, Sweden.

An agenda containing the matters that are proposed to be brought before the Meeting is included in the official notice to attend the Meeting, which is appended this press release and which will be published on March 19, 2008 in the newspapers Post- och Inrikes Tidningar and Svenska Dagbladet.

As will be seen from the notice, inter alia the following proposals are submitted regarding matters at the Meeting:

* In order to enable the Company to make acquisitions of shares or assets in companies with payment (wholly or partly) in own shares and/or convertible bonds, the Board proposes that it should be authorized to resolve upon an increase of the share capital, with deviation from the shareholders' preferential rights, with a maximum of SEK 4 million by issuing a maximum of 10 million shares, which at full exercise is equivalent to a dilution of just below 9.9 %. The further terms and conditions are set forth in the notice.

* The Board proposes that the Meeting resolves on an incentive programme for management employees of the group by way of issue of a maximum of 2.5 million warrants, which entitles to subscription for the equivalent number of new shares in the Company during the period from 1 January 2011 up to and including 31 May 2011 at a subscription price corresponding to 180 % of the average share price during the period 1-14 May 2008. The warrants shall be subscribed for by a wholly-owned subsidiary of the Company, which shall in its turn transfer option rights on market terms and conditions to the management employees. On full subscription and full exercise of the warrants the share capital may be increased by a maximum of SEK 1.4 million, which is equivalent to approximately 2.5 % of the present share capital and votes. The further terms and conditions are set forth in the notice

* The Board proposes that the Meeting resolves on guidelines for remuneration to management in accordance with the Board's proposal, which main terms are set out in the notice.

* The Nomination Committee proposes, as regards the board, re-election of Marc Chatel, Jan T. Jørgensen, Eva Maria Matell, Lisa Thorsted and Lena Widin Klasén, with Lisa Thorsted as the Chairman. Lars Grönberg and Christer Fåhraeus have declined re-election.

* As regards other proposals, please be referred to the appended notice.

* The Swedish version of the company's Annual Report 2007 is finished and will be available on the company's website www.precisebiometrics.com from March 19, 2008.

For further information, please contact Thomas Marschall, President & CEO, Precise Biometrics AB. Telephone +46 46 31 11 00 E-mail investor@precisebiometrics.com

Precise Biometrics AB is an innovative company offering solutions for fingerprint recognition to prove people's identities. With top-of-the-line expertise in fingerprint verification, Precise Biometrics offers fast, accurate and secure authentication of a person. Our core product Precise BioMatch™ integrates into ID and bank card programs and secure chips, as well as systems for access control to buildings, computers and networks. We act on a global market and our technology is licensed to more than 78 million users all over the world. The Precise Biometrics group has subsidiaries in Sweden (with group headquarters in Lund), Great Britain, Hong Kong and USA, and a joint venture agreement in China. Precise Biometrics is listed on the small cap list at the Nordic Exchange in Sweden (symbol:PREC). For more information, please visit http://www.precisebiometrics.com/





Copyright © Hugin AS 2008. All rights reserved.

Contact Information