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Doro's CEO decreases his shareholding

Sweden, Lund, 2011-02-22 16:15 CET (GLOBE NEWSWIRE) --  

Doro’s President and CEO, Jérôme Arnaud, has decreased his holding in Doro AB by 100,000 shares, from 472,004 to 372,004 shares. Following the transaction, his holding in Doro corresponds to 1.95 percent of the capital and votes in the company.

The divestment of shares is being made for personal financial reasons.

“I have worked developing Doro for three years before selling these shares, and I may sell additional shares in the near future. The reason is that I want to pay off the loan I secured to acquire my shareholding in the first place; I also want to use the proceeds to pay off a tax liability and to finance my private residence”, explains Jérôme Arnaud.

“I have a long-term commitment to Doro. Together with Bo Kastensson, Chairman of the Board, I am convinced that the strategies we are implementing will generate further value for customers and partners, and therefore also for our shareholders. This is why part of the proceeds of the share divestment also will be re-invested through a significant subscription to the warrant program that Doro’s Board today has proposed to the upcoming Annual General Meeting.”

 

This is information that Doro AB (publ) is required to publish in accordance with the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. This information was submitted for publication on February 22, 2011 at 16.15 p.m. CET.

About Doro
Doro is a Swedish company focusing on the development, marketing and sales of telecom products specially adapted to the growing worldwide population of seniors. With over 35 years of experience in telecommunications and sales in more than 30 countries on five continents, Doro is the world’s leading brand for easy-to-use mobile phones. Doro created the Care Electronics category and in recent years its products have received several highly distinguished international design awards. The company had sales of SEK 633 million in 2010. Doro’s shares are quoted on the OMX Nasdaq Stockholm, Nordic list, Small companies. Read more about Doro at www.doro.com

         For more information, please contact:
         Chairman of the Board Bo Kastensson, +46 (0)70 876 5995,
         President and CEO Jérôme Arnaud, +46 (0)46 280 50 05

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HEAD OFFICE

Doro AB
Jörgen Kocksgatan 1 B
211 20  Malmö
Sweden
Phone 0046 46 280 50 00

Corporate identification number
556161-9429

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