New board of directors and president in 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 group to Skanska’s shareholders through the distribution of shares in a subsidiary (name being changed to Drott AB).
NEW BOARD OF DIRECTORS AND PRESIDENT IN 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 group to Skanska’s shareholders through the distribution of shares in a subsidiary (name being changed to Drott AB).
A Board of Directors for Drott was elected today at the company’s Annual General Meeting comprising Christer Gardell (president of Custos), Mats Mared (Skanska), Esbjörn Olsson (formerly president of Svenska Bostäder), Lars Sköld (formerly president of Klövern) and Lars Wohlin (formerly president of Stadshypotek). Lars Wohlin will be elected Chairman of the Board.
Mats Mared will be appointed president of Drott. Mats Mared has been responsible for Skanska’s real estate operations for the past five years and is currently managing the project activity prior to the distribution of Drott.
Further information and decision documentation pertaining to the proposal for the distribution of Drott will be provided not later than April 20, 1998 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 not later than May 11, 1998. Listing on the stock exchange is planned to occur by the end of May or the beginning of June, 1998.
Danderyd, Sweden
March 25, 1998
SKANSKA AB
Group Corporate Communications
For further information, contact: Mats Mared tel +46 8 753 88 00 or Cecilia Schön, Senior Vice President Corporate Communications tel +46 8 753 87 99.