Subscription commitments in Suominen's planned share issue have increased to EUR 86.2 million
Tampere, Finland, 2011-09-29 16:10 CEST (GLOBE NEWSWIRE) --
Suominen Corporation Stock exchange release 29 September 2011 at 5.10 p.m.
Subscription commitments in Suominen’s planned share issue have increased to EUR 86.2 million
Financing of Suominen Corporation’s (Suominen) acquisition of Ahlstrom Corporation’s Home and Personal business area requires a share issue. Relating to the share issue, the Board of Directors of Suominen has, in addition to the prior commitments totaling EUR 80,265,000, received written commitments to subscribe for new shares in Suominen’s forthcoming share issue from the following current shareholders and investors: Pharmacy Pension Fund; Mr Harald Relander; Foundation for Economic Education; Onninen-sijoitus Oy; Sitra, the Finnish Innovation Fund; Finnish Cultural Foundation; and AC Invest Two B.V. The new subscription commitments together with earlier published commitments total EUR 86,165,000, i.e. the minimum amount of the share issue that has been agreed on in connection with the acquisition, EUR 85,000,000 or 188,888,889 shares, has been exceeded.
Further information on the forthcoming share issue will be released around 3 October 2011.
Suominen has previously published a stock exchange release concerning the acquisition and the prior subscription commitments on 4 August 2011.
Tampere, 29 September 2011
President and CEO
For additional information, please contact:
Mr. Petri Rolig, President and CEO, tel. +358 (0)10 214 300
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