Notification according to chapter 2, section 10 of the Securities Markets Act
Tampere, Finland, 2011-08-04 14:30 CEST (GLOBE NEWSWIRE) --
Suominen Corporation Stock exchange release 4 August 2011 at 3:30 p.m.
Notification according to chapter 2, section 10 of the Securities Markets Act
Suominen Corporation has today received a notification of change in holdings in accordance with chapter 2, section 9 of the Securities Markets Act as follows:
Mandatum Life Insurance Company Limited’s share of the total number of shares and voting rights in Suominen Corporation shall exceed 5 per cent as a result of the arrangement which, if completed, may result in the exceeding of the flagging threshold.
In accordance with chapter 2, section 9 of the Finnish Securities Markets Act we hereby notify the Financial Supervisory Authority and Suominen Corporation as follows:
1. Name of the issuer of shares: Suominen Corporation
2. Reason for the flagging notification: arrangement which may result in the exceeding of the flagging threshold of 5 per cent based on the total number of shares and voting rights as set out in chapter 2, section 9 of the Finnish Securities Market Act.
3. Name and business identity code of the shareholder subject to the notification obligation: Mandatum Life Insurance Company Limited, Business ID 0641130-2.
4. Share of total number of shares and voting rights:
Mandatum Life Insurance Company Limited’s shareholding after the arrangement:
Number of shares: 22,222,222 shares
Share of the total number of shares and voting rights: 9.4%
5. Main content of the arrangement:
Mandatum Life Insurance Company Limited has on 3 August 2011 signed a commitment to subscribe for new shares for 10 million euros in a directed share issue prepared by Suominen Corporation.
The commitment to subscribe for new shares is related to the release today by Suominen Corporation, whereby Suominen Corporation has signed an agreement with Ahlstrom Corporation to buy its Home and Personal nonwovens business area.
The transaction will be financed by share issue and debt. The share issue will be carried out as a directed share issue with a subscription price of 0.45 euro per share.
Shareholders that represent a minimum of 64 per cent of the shares and votes have committed to advocate a minimum of 85 million euro and a maximum of 120 million euro share issue in the Extraordinary General Meeting of Shareholders. The Extraordinary General Meeting of Shareholders is expected to be held in September 2011.
The criterion for the flagging is that the share issue will be carried out at the minimum size of 85 million euros.
The completion of the transaction is subject to approval by competition authorities.
Helsinki 4 August 2011
Sampo plc
pp. Laura Liljeström pp. Kirsi Ylikoski
The registered number of issued shares of Suominen Corporation totals 47,395,014 and each share has one vote.
Tampere 4 August 2011
Suominen Corporation
Arto Kiiskinen
Vice President and CFO
For additional information, please contact:
Mr. Arto Kiiskinen, Vice President and CFO, tel. +358 (0)10 214 300
Suominen produces high-quality flexible packaging, wet wipes and nonwovens for industry and the retail sector. The Group is one of Europe’s leading manufacturers in all its business areas, with operations in Finland, Poland, the Netherlands, and Russia. The Group had net sales of EUR 173 million in 2010 and it employs around 900 people. Suominen is listed on NASDAQ OMX Helsinki. www.suominen.fi
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