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Elekta`s Debenture Loan Converted (PrimeZone)... neurosurgery solutions and services for precise treatment of cancer and brain disorders....- Jul 03 10:16 AM ET


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Posted on: 07/03/2001

"Yahoo - Elekta's Debenture Loan Converted"
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Tuesday July 3, 10:16 am Eastern Time

Press Release

SOURCE: Elekta

Elekta's Debenture Loan Converted

STOCKHOLM, Sweden, July 3, 2001 (PRIMEZONE) -- Friday, June 29 was the final day for conversion of Elekta's 98/01 convertible debentures. Of the nominal amount of the convertible debenture loan that was outstanding on April 30, 2001, which was SEK 233 M, debentures totaling SEK 229 M were reported for conversion. This corresponds to more than 98% of the total loan.

"Elekta has implemented a comprehensive restructuring program during recent years with the aim of achieving satisfactory profitability. To succeed in this aim, a strengthening of the Group's financial position was essential. Now that conversion of the debenture loan has been successfully completed, we are debt-free and can concentrate all our power on developing our positions in industrial and market terms," said Elekta CEO Laurent Leksell.

Following completion of the conversion process, it is estimated that Elekta has an equity/assets ratio of approximately 44%. On April 30, 2001, the equity/assets ratio was 33%. At the same date, interest-bearing liabilities amounted to SEK 47 M, of which financial leasing agreements accounted for SEK 36 M. During the 2000/01 fiscal year, interest-bearing liabilities to financial credit institutions were reduced by SEK 86 M to SEK 11 M.

Conversion of the debentures has further reduced Elekta's indebtedness and the debt/equity ratio is currently estimated at minus 0.4. On April 30, 2001, the debt/equity ratio was minus 0.2.

Following conversion, it is estimated that the total number of Series B shares will increase by 3,802,845 and total 30,468,962, and that the total number of shares, including Series A shares, will be 31,656,462.

Elekta is a world-leading supplier of advanced and innovative radiation oncology and neurosurgery solutions and services for precise treatment of cancer and brain disorders. Elekta's solutions are clinically effective, cost efficient and gentle to the patient.

More information about Elekta can be found at: www.elekta.com



CONTACT: Elekta AB (publ)
         Hakan Bergstrom, CFO
         +46-8 733 342 318

SOURCE: Elekta

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