Kotkamills Group Oyj: RECEIPT OF WAIVER FROM BONDHOLDERS RELATING TO STRATEGIC REVIEW OF MALAYSIAN OPERATIONS
Kotkamills Group Oyj
STOCK EXCHANGE RELEASE
15 November 2016, at 9 am (CET + 1)
As set out in Kotkamills Group Oyj's stock exchange release published on 26 October 2016, the company has initiated a strategic review process for the purposes of evaluating strategic options concerning its indirect wholly owned subsidiary L.P. Pacific Films ("LPPF"), a Malaysian limited liability company. In connection with the strategic review process, Kotkamills Group Oyj initiated on 26 October 2016 a written procedure in accordance with the terms and conditions of Kotkamills Group Oyj's EUR 105,000,000 Senior Secured Callable Bonds 2015/2020 (ISIN: FI4000148705) for the purposes of obtaining a consent from the bondholders for a disposal of shares in LPPF, as required under the terms and conditions of the bonds.
Kotkamills Group Oyj has been informed by Nordic Trustee Oy, acting as the Trustee under the bonds, that the bondholders have given the requested consent for a disposal of shares in LPPF in accordance with the terms and conditions of the bonds. Nordic Trustee Oy's confirmation is attached hereto.
Kotkamills Group Oyj
Board of Directors
For additional information, please contact:
CFO Petri Hirvonen, tel.+358 40 571 0834, email@example.com
Nasdaq Helsinki Ltd
Kotkamills Group in brief
Kotkamills is a responsible partner that delivers renewable products and performance to its customers' processes via product innovations created from wood, a renewable raw material. The key brands of the company include Absorbex® and Imprex®, both innovative laminating paper products for the laminate, plywood and construction industries. Moreover, Kotkamills offers ecological, technically sound and visually attractive wood products for demanding joinery and construction. In summer 2016, Kotkamills started up a new board machine producing AEGLE(TM) Folding Boxboard and ISLA(TM) Food Service Boards, including the capability to add barriers on-machine. All Consumer Boards material solutions are fully recyclable and repulpable.
Kotkamills has two production sites in Finland, located in Kotka and Imatra, and a subsidiary L.P. Pacific Films for Imprex® production in Malaysia. The majority shareholder of Kotkamills is MB Funds, a Finnish private equity firm.
The information contained in this release shall not constitute an offer to sell or the solicitation of an offer to buy securities of Kotkamills Group Oyj in any jurisdiction.
Confirmation from Nordic Trustee Oy