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Acta Holding ASA Reference is made to the conference call in English today at 12:00 CET (11:00 GMT) in order to give a market update before the summer. The conference call will be followed by a Q&A session.
Please find below information on share issues in 2Q, continued quality improvement and satisfied customers as a basis for the call.
How to join the conference call:
Dial in phone number: +44 20 7138 0825 Code: 7325429
Participants will be asked for their name and company before entering the call and are therefore advised to dial in at least 5 minutes early to avoid delays.
A replay will be available the following seven days by calling +44 (0)20 7806 1970 with code 7325429#.
Share issues in 2Q
US Real estate mandate - US Opportunities
- more than NOK 1 billion
- largest ever first issue for a new asset class or product initiative
- US Opportunities AS - NOK 560,192,690
- 56,019,269 shares @ 10 NOK/share
- US Opportunities AB - SEK 554,870,910
- 55,487,091 shares @ 10 SEK/share
Global Real Estate Mandate
- Global Eiendom Utbetaling AS - NOK 108,751,718.25
- 10,714,455 shares @ 10.15 NOK/share
- Global Fastighet Utbetaling AB - SEK 107,989,047.25
- 10,639,315 shares @ 10.15 SEK/share
Global Shipping Mandate
- Global Shipsholding 2 AB - SEK 39,170,040
- 1,920,100 A shares @ 11 SEK/share
- 1,804,894 B shares @ 10 SEK/share
- Global Shipping 2 AS - Opened June 2nd, to be closed during 3rd quarter
Global Infrastructure
- Global Infrastructure 1 AS - NOK 128,412,997.59
- 12,577,179 shares @ 10.21 NOK/share
- Global Infrastructure 1 AB - SEK 202,837,359.12
- 19,964,307 shares @ 10.16 SEK/share
Global Private Equity
- Global Private Equity 2 AB - SEK 136,572,626.96
- 13,182,686 shares @ 10.36 SEK/shares
- Global Private Equity 2 AS
- Private placing, closes today - 27.06.2008
Continued Quality Improvement
- Based on critique in the press, Acta will this summer:
- Improve the way we inform about product fees
- Make it easier for the clients to understand the cost of the products
- The ambition is to create a new industry standard on information of costs and return on investments
- Change the fee structure
- A shift to more managment based fees
- Lower fees at time of purchase
- Introduce a more restrictive attitude to gearing of investments
- Will no longer offer loans with collateral in securities
- Lower the limit for customers maximum debt ratio
- Limit risk in the customers' portfolios
- Avoid to present investment solutions on controversial arenas
- We have held investment seminars at some senior citizens' community centres in co-operation with some pensioner associations
- Clarification:
- Acta has NOT arranged investment seminars at retirement homes
- Acta has NOT sold any investment products at seminars
- Acta understands that arenas like this demands carefulness
- Still, Acta believes that it is wrong to discriminate on age itself
Satisfied customers
- Good financial return over time
- Massive support from customers in spite of negative media coverage
- Many customers have been in contact with the company and expressed support
- Some customers have written reader's letters to the newspapers
- Customers say that they do not share the opinion portrayed in the media
- Acta will prove that the company deserves the customers' support
- Build on high customer satisfaction in Norway and Sweden
- Establish customer councils in order to improve the advisory process and product information
- Establish a customer hot line to compliance as a low barrier service for complaints