Business Services Industry
RnB Retail and Brands AB withdraws proposal to list Polarn O. Pyret
Nordic Business Report, Nov 26, 2007
NORDIC BUSINESS REPORT-26 November 2007-RnB Retail and Brands AB withdraws proposal to list Polarn O. Pyret(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
Swedish clothing retail and distribution group RnB Retail and Brands AB said on Monday (26 November) that its board of directors had decided to withdraw its proposal to list Polarn O. Pyret on the OMX Nordic Exchange.
After having evaluated the market's attitude to a spin-off and listing of Polarn O. Pyret, and the operational advantages, the board has arrived at the overall conclusion that the best solution would be to withdraw the proposal to spin off and separately list Polarn O. Pyret.
The board of directors also proposes that the dividend for fiscal year 2006/2007 be increased to SEK1.50 per share.
RnB Retail and Brands, headquartered in Stockholm in Sweden, operates 450 proprietary and franchise stores in Sweden and abroad. RNB Retail and Brands is listed on the Nordic Exchange in Stockholm.
One British pound (GBP) is worth approximately 12.96 Swedish kronor (SEK).
((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))
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