Preliminary result of special audit
Preliminary result of special audit at Trelleborg AB In recent weeks, details have appeared in the Swedish media questioning former Trelleborg president Kjell Nilsson's use of the Company's aircraft and the part he has played in the purchase of various building services, among other matters. Accordingly, at its meeting on January 26, the Trelleborg AB Board of Directors urged the Company's auditors to investigate the various claims as quickly as possible. The Trelleborg AB Board has today discussed a preliminary audit memorandum regarding former president Kjell Nilsson's expenses in connection with his use of the Company aircraft and arrangements surrounding certain hunting trips in Sweden and abroad, among other matters. The Board has come to the conclusion that it cannot be ruled out that certain of these trips were of a private nature. The Board has therefore decided that it will take contact with Kjell Nilsson to jointly review the preliminary audit memorandum. Following this review, the Board will decide on further measures. With regard to the decisions taken on the purchasing of building services from PEAB and the location of a management conference at the Högfjälls hotel in Sälen, the auditors were unable to note any irregularities, and market prices seem to have applied. However, the Board is of the opinion that in both cases, these decisions should have been confirmed by itself, since Kjell Nilsson is the Chairman of PEAB and a principal owner of the Högfjälls hotel. Finally, in the case of the Company's apartment in Stockholm, the Board notes that this accommodation was used in accordance with generally accepted practice in similar situations. For further information, please contact Senior Vice President Corporate Communications, Leif Öberg, telephone: +46 410 670 39, or +46 708 540 540. www.trelleborg.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/02/09/19990209BIT00480/bit0001.doc http://www.bit.se/bitonline/1999/02/09/19990209BIT00480/bit0002.pdf