RusForest publishes rights issue prospectus predicting 70% increase in lumber production to 350,000 m3 in 2012, expects harvesting volumes to reach 1,400,000 m3
Wendy Lisney
STOCKHOLM, Switzerland
,
March 13, 2012
(press release)
–
The Board of Directors of RusForest AB (publ) (“RusForest” or the “Company”) has prepared a prospectus for the rights issue in the Company as decided by the Board of Directors on 7 March 2012, pursuant to the authorisation obtained at the Extraordinary General Meeting on 1 March 2012. The prospectus has been approved by, and registered with, the Swedish Financial Supervisory Authority (Finansinspektionen) and is now available on RusForest’s website, www.rusforest.com, and Pareto Öhman AB’s website, www.paretoohman.se.
A printed version of the prospectus is expected to be available as from 16 March 2012 at RusForest AB (Hovslagargatan 5, SE-111 48 Stockholm, Sweden) and Pareto Öhman AB (Berzelii Park 9, SE-103 91 Stockholm, Sweden). The prospectus can also be ordered from RusForest via email at prospectus@rusforest.com or by telephone: +46 (0)8 771 85 00.
New information with respect to disclosure in the prospectus
Financial target for 2012
Sales target for 2012
Advisors
Pareto Öhman AB is acting as financial advisor and Advokatfirman Vinge KB as legal advisor to RusForest in connection with the rights issue.
For further information please contact:
Martin Hermansson, CEO, phone: +7 903 015 64 65, +7 985 921 92 32
or
Per Brilioth, Board member, phone: +46 8 545 015 50
About RusForest AB (publ)
RusForest is a forestry and sawmilling company operating in Eastern Siberia and the Arkhangelsk region of Russia. The Company controls long term forest leases with an annual allowable cut of approximately 3.6 million m³, and utilizes these resources to produce a wide range of sawnwood products. Eastern Siberia is renowned for its pine and larch of exceptional quality, while the Arkhangelsk Region in northwest Russia has high quality spruce and pine forests similar to those found in northern Sweden.
RusForest's goal is to develop into a leading independent integrated forestry and sawmilling company in Russia with an annual harvesting of 2.7 to 2.9 million m³. The Group's total sawmilling capacity, which is currently approximately 415,000 m³, is expected to, following completion of on-going investments; gradually increase to 500,000 to 550,000 m³ of sawnwood. There is significant potential (of up to 800,000 to 850,000 m³ of sawnwood) within the maximum allowable harvesting.
RusForest AB's Certified Adviser on First North is Pareto Öhman AB.
IMPORTANT INFORMATION
This press release does not constitute an offer to buy shares in RusForest. A prospectus for the rights issue described in this press release has been approved by, and registered with, the Swedish Financial Supervisory Authority.
The distribution of this press release in certain jurisdictions may be restricted. This press release does not constitute an offer of, or an invitation to purchase, any securities of RusForest in any jurisdiction.
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended. RusForest does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement should not be made in and may not be distributed or sent into the United States, Canada, Australia, Singapore, South Africa, Switzerland, Japan or Hong Kong.
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