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Proposed treatment of unappropriated earningsProposed treatment of unappropriated earningsThe following unappropriated earningsare at the disposal of theAnnual General Meeting:Retained earnings 172,961,091.23Net loss for the year - 30,830,729.77142,130,361.46The Board proposes that the un -appropriated earnings be dealt withas follows:To be paid out toshareholdersby way of dividendof SKr 6 per share 25,317,198.00to be carried forwardinto the new account 116,813,163.46142,130,361.46The Board proposes that 29 April2008 shall be the date of record forentitlement to dividend. Providedthe Annual General Meeting resolvesin favour of this proposal it is estimatedthat the dividend will be distributedby VPC on 5 May 2008.Board’s commenton dividend proposalPayment of the proposed dividendwill reduce the company’s equityratio to 59.4% and the Group’s equityratio to 35.7%. Given that the businesscarried on by the company andthe Group has remained profitable,these equity ratios are adequate. It isconsidered that the company’s andthe Group’s liquid funds can be maintainedat a similarly adequate level.The company’s equity includesunrealised capital gains of SKr 19.4million, arising from the stating offinancial instruments at their marketvalue.It is the opinion of the Boardthat the proposed dividend will notprevent the parent company or anyother company in the Group fromfulfilling their obligations in both theshort and the long term, or fromfinancing any necessary investments.The dividend proposal can thereforebe justified on the basis of the provisionsof The Swedish CompaniesAct, Chapter 17 §3 paras 2-3 (prudencerule).CertificationThe Board and the managing directorherewith certify that this annualreport is made up in accordance withInternational Financial ReportingStandards (IFRS) as adopted by theEU and that it provides a true andfair picture of the Group’s financialposition and result. The annualreport is made up in accordancewith generally accepted accountingpractice and provides a true and fairpicture of the parent company’sfinancial position and result.The report of the directors onthe Group and the parent companyprovides a true and fair picture of thedevelopment of the parent companyand Group’s development, financialposition and result and describessignificant risks and uncertainties towhich the parent company and thecompanies in the Group are exposed.This annual report will be submittedto shareholders at the AGMon 24 April 2008 for their approval.Göteborg, Sweden, 25 February 2008Ove Mattsson David Bergendahl Klas DunbergerChairmanTomas Landeström Åsa Söderström Jerring Helena LevanderSören SjölanderHans LjungkvistManaging directorOur audit report was submitted on 25 February 2008ÖhrlingsPricewaterhouseCoopers ABBror FridAuthorised public accountantBirgitta GranquistAuthorised public accountant76