Semcon: Summary of Semcon's Annual General Meeting 2006

STOCKHOLM, Sweden--April 27, 2006--Semcon AB's (STO:SEMC) Annual General Meeting was held on Wednesday, 26 April 2005. The CEO, Hans Johansson, reported on the performance for 2005. Sales stood at SEK 1,500 million (1,289) and the operating profit was SEK 97,9 million (52,1). The average number of employees was 1,636 (1,444).

Major customers include ABB, AB Volvo, AstraZeneca, Ericsson, SAAB AB, Saab Automobile, Scania, Sony Ericsson and Volvo Car Corporation.

Outlook

We expect the good economic conditions experienced in 2005 to continue in 2006, which will give us good opportunities to achieve our goals, even though there are a number of areas of uncertainty, such as development within the auto sector.

The AGM decided on the following:

Members of the Board of Directors

Board members Annemarie Gardshol, Pia Gideon, Carl-Ake Jansson, Christian W Jansson, Hans Johansson and Dan Persson were re-elected. The AGM decided to elect Christer Dahlstrom as a new member.

Remuneration to the Board

The AGM decided that remuneration to the external board members should be SEK 150,000 per member. Remuneration to the Chairman of the Board should be SEK 300,000.

Articles of association

The AGM approved the changes in the Articles of Association. The revisions mainly involve aligning the Articles of Association to the new Swedish Companies Act that became effective on January 1, 2006 and that certain superfluous articles are deleted. The AGM decided to raise the share capital limit to SEK 60 million.

Dividends

Taking into account Semcon's results for the year the AGM proposed that no dividend be paid to shareholders for 2005 (0).

New share issue

The AGM authorised the Board to take a decision, up to and including the Annual General Meeting in 2007, regarding a new share issue of 900,000 shares in the company.

Acquisition and transfer of shares

The AGM authorised the Board to take a decision, up to and including the Annual General Meeting, on one or more occasion, to decide on acquisitions and transfer of shares as follows:

1. Acquisitions shall only take place on the Stockholm Stock Exchange.

2. On each occasion the acquisition shall be for the highest amount of shares so that the company's equity holding of its own shares will not exceed five per cent of the total shares in the company on each occasion.

3. Transfer shall be as payment of all or part of the purchase price upon acquisition of companies or operations, whereby the indemnification shall be equal to the shares' estimated market value.

Semcon is a leading international design and development company, with around 1,700 employees and sales in 2005 of SEK 1.5 billion. Semcon's consultants develop products, processes and people. The combination of good growth over 25 years and well-established relationships with leading industrial groups provides a strong base for continued success. Semcon AB (publ) is listed on the Attract 40 list of Stockholm Stock Exchange and is currently active in Sweden, Australia, China, Denmark, Hungary, Malaysia, Norway and the UK and, via partners, in Belgium, France, Portugal and Spain.

This information was brought to you by Waymaker http://www.waymaker.net