Precise Biometrics acquires remaining shares in Loqware Sweden

Published 16 October 2005

Lund, Sweden-based Precise Biometrics (Stockholm Stock Exchange: PREC A), a developer of biometric security solutions based on fingerprint recognition and smart cards (company motto: “When Your Fingerprints are Key”), is acquiring the remaining 6 percent of shares of another Swedish company, Loqware Sweden, using a new issue of shares in Precise Biometrics for the purpose. At the beginning of August Precise Biometrics acquired 94 percent of Loqware’s shares from its principal owner, Lars Grundin. The remaining shares were owned by ten private individuals who were invited to sell their shares under the same terms and conditions as Lars Grundin. For each holding of 50,000 shares in Loqware, the shareholders were offered remuneration of 3,750 shares in Precise Biometrics. Now that all shareholders have chosen to sell shares for payment in shares in Precise Biometrics, there will be a new issue of 71,250 shares in Precise Biometrics.