Suominen Corporation Stock Exchange Release 22 March 2016 at 8:45 am (EET)
The number of shares of Suominen Corporation has changed due to the reverse share split. After the reverse share split, the total number of shares in Suominen Corporation is 51,216,232. The new number of shares has been registered with the Trade Register today and trading with the merged shares commences today on 22 March 2016. The reverse split does not have an impact on the treasury shares held by Suominen (913,886 shares).
The Annual General Meeting of Suominen Corporation held on 16 March 2016 decided to reduce the number of shares in the company without reducing share capital in a reverse share split procedure pursuant to the Chapter 15, Section 9 of the Limited Liability Companies Act (624/2005) so that each five (5) shares shall be merged as one (1) share. The purpose of merging the shares is to increase the interest for the company’s shares, facilitate the trade in the shares and to increase flexibility in connection of possible payment of dividend. The procedure has been explained in more detail in Suominen’s Stock Exchange Release issued on 29 January 2016 and in the Notice to the Annual General Meeting, issued on 29 January 2016.
Nina Kopola, President & CEO
For further information, please contact Mr. Tapio Engström, CFO, tel. +358 10 214 300
Suominen manufactures nonwovens as roll goods for wipes as well as for medical and hygiene products. The end products made of Suominen’s nonwovens – wet wipes, feminine care products and swabs, for instance – bring added value to the daily life of consumers worldwide. Suominen is the global market leader in nonwovens for wipes and employs over 600 people in Europe and in the Americas. Suominen’s net sales in 2015 amounted to EUR 444.0 million and operating profit excluding non-recurring items to EUR 31.2 million. The Suominen share (SUY1V) is listed in Nasdaq Helsinki Stock Exchange (Mid Cap). Read more at www.suominen.fi.