Invik Kapitalförvaltning AB to be sold to employees / Invitation to Extraordinary General Meeting

Monday, 21. November 2005 13:15

The Board of Directors of Invik has decided to divest all of the
shares in Invik Kapitalförvaltning AB. Since the purchaser is a
company that is owned primarily by the employees of Invik
Kapitalförvaltning AB, the sale must be approved by an Extraordinary
General Meeting of the shareholders in Invik. A fairness opinion will
be presented at the General Meeting. The effective date of the
transfer is January 1, 2006.

During the period January - September 2005, Invik Kapitalförvaltning
AB accounted for only 2% (SEK 31.1 million) of the total revenues of
the Invik Group and 3% (SEK 4.9 million) of the operating profit of
the Invik Group. The assets managed by Invik Kapitalförvaltning AB
amounted to SEK 5,909 million on September 30, 2005. The sale will
give rise to a minor capital gain for Invik, but will otherwise not
have any material impact on the income statement or balance sheet of
Invik.

In connection with the transfer, certain of Invik Kapitalförvaltning
AB's asset managers will remain within the Invik Group and be
transferred to Banque Invik's Stockholm branch.

"This transaction is a step in the streamlining of Invik & Co. AB.
The traditional asset management operations conducted by Invik
Kapitalförvaltning AB does not have the same potential to generate
economies of scale or the same development potential as the other
Invik operations, and are therefore likely to be more suitable for a
partner-owned company. We are pleased that the employees want to
continue to develop the operations and cultivate the customer
relations that have been built up over a long period of time. Invik
will continue to conduct asset management operations in Luxembourg
and Stockholm through Banque Invik. The new asset management
operations conducted within Banque Invik's Stockholm branch will
cooperate closely with our fund company Aktie-Ansvar and with our
life insurance company Moderna Försäkringar Liv in terms of the
distribution of asset management products and services," says Anders
Fällman, commenting on the transaction.


For further information, please visit www.invik.se or contact:


Anders Fällman, President and CEO +46 (0)8 562 000 20
Mattias Björk, Investor Relations +46 (0)8 562 000 58


__________________________________


Invik is a finance group with a broad product profile focusing on
insurance, banking, asset management and securities trading. Invik is
active in a number of carefully selected segments in which the Group
can create high growth and build long-term, successful companies,
while consistently focusing on profitability. Group companies are
distinguished by their constant efforts to seek new avenues for
growth in profitable niches in the financial sector.

Invik is made up of six major financial operations: Modern Insurances
Non-life conducting non-life insurance operations; Modern Insurances
Life focusing on unit-linked insurances; Modern Insurances Run-off;
private banking through Banque Invik in Luxembourg; Fischer Partners,
which focuses on equities trading and proprietary trading; and Invik
Kapitalförvaltning Holding, which pursues asset management and fund
operations through Invik Kapitalförvaltning and Aktie-Ansvar. Invik
is listed on the Stockholm Stock Exchange O-list under the name
INVKB.


NOTICE OF EXTRAORDINARY GENERAL MEETING

THE SHAREHOLDERS OF INVIK & CO. AB
are hereby invited to the Extraordinary General Meeting on Friday 9
December 2005 at 9.30 a.m. CET
at Brasserie by the Sea, Tullhus 2, Skeppsbron, Stockholm. Admission
from 9.00 a.m.

NOTIFICATION
Shareholders who wish to participate at the Extraordinary General
Meeting shall
- have their names entered in the register of shareholders
maintained by VPC AB (the Swedish Securities Register Center) on
Tuesday 29 November 2005,
- notify the company of their intention to participate by no later
than 3.00 p.m. on Tuesday 6 December. The notification can be made on
the company's website, www.invik.se, by e-mail to
bolagsstamma@invik.se, by telephone +46-8-562 000 20 or in writing to
the company:

Invik & Co. AB
P.O. Box 2095
SE-103 13 Stockholm, Sweden

When giving notice of participation, the shareholder should state
name, personal identification number (or company registration
number), address, telephone number, shareholdings and any advisors
attending. Shareholders who wish to be represented by a
representative shall submit a written power of attorney giving
authorisation to a specific person together with the notice of
participation. Written notifications should be marked "Extraordinary
General Meeting".

Shareholders whose shares are registered in the names of nominees
must temporarily re-register the shares in their own name in order to
be entitled to participate in the Meeting. Shareholders wishing to
re-register must inform the nominee well in advance of 29 November
2005.

PROPOSED AGENDA
1. Election of Chairman of the Meeting.
2. Preparation and approval of the voting list.
3. Approval of the agenda.
4. Election of one or two persons to check and verify the minutes.
5. Determination of whether the Meeting has been duly convened.
6. Decision on approval of the sale of Invik Kapitalförvaltning AB.
7. Decision on acquisition and sale of the company's own shares
within the group's securities operations.
8. Closure of the Meeting.

DECISION ON APPROVAL OF THE SALE OF INVIK KAPITALFÖRVALTNING AB
The Board of Directors has decided, subject to the approval of the
General Meeting, to sell Invik Kapitalförvaltning AB for a purchase
price of MSEK 73 to a company primarily owned by the employees of
Invik Kapitalförvaltning AB. In accordance with Appendix 1, Section
25, of the Listing Agreement between Invik & Co. AB and the Stockholm
Stock Exchange, a fairness opinion regarding the transaction has been
obtained from Deloitte AB, evidencing that the purchase price is fair
for Invik & Co. AB and its shareholders from a financial perspective.

DECISION ON ACQUISITION AND SALE OF THE COMPANY'S OWN SHARES WITHIN
THE GROUP'S SECURITIES OPERATIONS
The Board of Directors proposes that the Meeting resolves that
companies within the same group as Invik & Co. AB, which are engaged
in securities operations, for the period until the next Annual
General Meeting, are authorised to acquire and sell shares in Invik &
Co. AB within the securities operations and subject to the conditions
set forth in Chapter 4 Section 5 of the Swedish Securities Operations
Act. The price shall at all times correspond to the current market
price and the shareholding shall at no time exceed five per cent of
the total number of shares in Invik & Co. AB.

OTHER INFORMATION
The resolution under item 6 must be be supported by shareholders
representing at least 9/10 of the votes cast as well as the shares
represented at the General Meeting. A statement by the Board of
Directors about the proposed transaction and the fairness opinion
obtained by the Board of Directors will, no later than from 25
November 2005, be held available to the shareholders at Invik & Co.
AB's head office at Skeppsbron 18 in Stockholm and on the company's
website www.invik.se. Shareholders who wish to receive those
documents may notify the company, whereupon the documents will be
sent by mail or email.

Stockholm in November 2005
THE BOARD OF DIRECTORS
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Author:
Hugin
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