Proposals to election of Board Members of IBS AB Press Release 2008-08-29 Deccan proposes election of Christian Paulsson and that the appointment of Bo Pettersson and Fredrik Svensson as Board members shall be terminated. Following their public offer to the shareholders of IBS, Deccan Value Advisors Fund L.P., Deccan Value Advisors Fund Ltd., A/D Value Fund L.P. and Y/D Value Fund L.P. (“Deccan”) have requested a shareholders’ meeting for appointment of Board members. The Board has convened an Extraordinary Shareholders’ Meeting which will be held on September 5, 2008. The Nomination Committee presently comprises George Ho (Chairman of the Committee), Deccan Value Investments, Henrik Strömbom, Case Asset Management, Rikard Svensson, Arvid Svensson Invest, Rishi Bajaj, Silverpoint Capital and IBS chairman Pallab Chatterjee. As Case Asset Mangement, Arvid Svensson Invest and Silverpoint Capital have sold their shares in IBS the majority of the members of the Nomination Committee no longer represent shareholders of the company. Deccan has therefore chosen to present a proposal of its own without involving the entire Nomination Committee and Deccan has also chosen to withdraw from the Nomination Committee until a new Nomination Committee is appointed in accordance with the principles resolved at the latest Annual General Meeting. Deccan has now informed the company of its proposals to the Extraordinary Shareholders’ Meeting as follows. The Board of Directors presently comprises Pallab Chatterjee (chairman), Vinit Bodas, Gunnel Duveblad, George Ho, Bo Pettersson, Bertrand Sciard, Fredrik Svensson and Ann-Mari Öhman (employee representative). Deccan proposes that the Extraordinary Shareholders’ Meeting resolves that the Board of Directors shall consist of six Board members appointed by the Shareholders’ Meeting; that the appointment of Bo Pettersson and Fredrik Svensson as Board members shall be terminated; and that Christian Paulsson be appointed as member of the Board of Directors for the period until the close of the next Annual General Meeting. Christian Paulsson is 33 years old. He is Managing Director and head of corporate finance at Lage Jonason AB and has previously worked at i.a. Mangold Fondkommission AB and Alfred Berg Fondkommission AB. He is a member of the board of directors of Invisio Headsets AB, Spirits of Gold AB and Lage Jonason AB. For further information regarding Christian Paulsson, visit www.ibs.net If the Extraordinary Shareholders’ Meeting resolves in accordance with Deccan’s proposal the new Board will comprise Pallab Chatterjee (chairman), Vinit Bodas, Gunnel Duveblad, George Ho, Christian Paulsson, Bertrand Sciard, and Ann-Mari Öhman (employee representative).
For more information, please contact: Oskar Ahlberg, Investor Relations Director IBS AB
Tel: +46 (0)70 244 24 75
oskar.ahlberg@ibs.net
IBS in brief
With over 30 years of supply chain expertise, IBS is a leading provider of complete ERP solutions. IBS focuses on mid-sized and large distribution companies, as well as sales and manufacturing subsidiaries of international groups, mainly within industries such as automotive, electrical, food, industrial supplies, paper, pharmaceutical, publishing and wholesale distribution. More than 5,000 customers across some 40 countries use IBS software to gain fast and measurable returns on IT investments.
IBS B share is listed on OMX Nordic Exchange Stockholm. For more information, please visit www.ibs.net
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