Drott Real Estate company
As announced previously, the Skanska Board of Directors will at the Annual General Meeting propose the transfer of a newly formed real estate company to Skanska’s shareholders through the distribution of shares in a subsidiary (name being changed to Drott AB).
DROTT REAL ESTATE COMPANY
As announced previously, the Skanska Board of Directors will at the Annual General Meeting propose the transfer of a newly formed real estate company to Skanska’s shareholders through the distribution of shares in a subsidiary (name being changed to Drott AB).
In accordance with the current advance ruling from the Swedish Council for Advanced Tax Rulings, the proposed distribution will not be subject to dividend or withdrawal taxation.
Skanska’s Board today decided to recommend that the shares in Drott should be in a single class. Christer Gardell, Sven Hagströmer and Bo Rydin registered their dissent to this decision.
A new Board of Directors for Drott will be elected at the company’s Annual General Meeting on March 23, 1998 and company management will be appointed in conjunction with this Meeting.
Further information and decision documentation pertaining to the proposal for the distribution of Drott will be provided as usual for decision at the Annual General Meeting in Skanska on April 29, 1998. On condition that the Meeting resolves in accordance with the proposal, the listing prospectus will be published during the first half of May 1998.
Danderyd, Sweden
March 18, 1998
SKANSKA AB
Group Corporate Communications
For further information please contact:President and CEO Claes Björk, tel +46 8 753 88 00.