Helsinki, 2010-12-21 07:15 CET (GLOBE NEWSWIRE) -- UPM-Kymmene Corporation Stock exchange release 21 December 2010 at 8:15
On the basis of the authorisation granted by the Annual General Meeting of shareholders of UPM on 22 March 2010, UPM's Board of Directors has today decided on the issuance of 5 million new UPM shares as a part of the consideration for the acquisition of Myllykoski Corporation and Rhein Papier GmbH ("Myllykoski").
The new UPM shares will be offered for subscription to certain holders of subordinated loan notes of Rhein Papier GmbH, who are shareholders of Myllykoski Corporation and who have agreed to subscribe for the new shares in connection with the completion of the acquisition of Myllykoski. The subscription price for the new UPM shares will be paid by contribution of such loan notes to UPM as part of the overall transaction.
The number of new UPM shares to be issued may be subject to an adjustment by UPM's Board of Directors, if certain dilutive corporate events take place before the subscription for the new shares.
For further information, please contact:
UPM, Corporate Communications
NASDAQ OMXHelsinki Ltd