Authorizations

The purpose of authorizations is to facilitate the financing of acquisitions.

The Annual General Meeting held on April 22, 2008, authorized the Board of Directors to resolve on a new issue of shares of series B to a number corresponding to 6,000,000 divided by the issue price. The issue price shall correspond to the volume weighted average price of Teleca’s B-share on OMX Nordic Exchange Stockholm during the ten trading days immediately preceding the day on which the board of directors resolves to issue the shares. Payment for the subscribed shares shall be made by set-off against the remuneration attributable to Symphony Technology Group LLC for the underwriting guarantee issued in connection with the ongoing new issue. Accordingly, the board of directors shall be entitled to resolve on deviation from the shareholders’ preferential rights as well as on provisions in accordance with Chapter 13 Section 5 Paragraph 1 Item 6 of the Swedish Companies Act (set-off).

Furthermore, the board of directors was authorized to resolve on new issues of up to a total of 3,600,000 shares of series B with right to deviate from the shareholders’ preemptive rights and with provisions set out in Chapter 13 Section 5 Paragraph 1 Item 6 of the Swedish Companies Act (in kind, offset or other terms). The issue price for the new shares shall be determined on the basis of the market price for the shares at the time of the issue. The purpose of the authorization is to facilitate the financing of acquisitions.