STOCKHOLM, Sweden, Jan. 20, 2003 (PRIMEZONE) -- M-real Corporation (business identity code 063366-7) has informed Metsa Tissue Corporation (business identity code 0108069-8), that, together with its wholly owned subsidiary M-real Tissue Oy (business identity code 1776466-4), its ownership of the voting rights and share capital of Metsa Tissue has exceeded two-thirds (2/3) as a result of a share transaction conducted on the Helsinki Exchanges today, 20 January 2003. M-real Tissue has acquired 5,781,200 Metsa Tissue shares, corresponding to 19.27 percent of the voting rights and share capital. Following this share transaction, M-real Tissue's ownership of Metsa Tissue's voting rights and share capital has exceeded three-twentieths (3/20).
Following the share transaction, M-real and M-real Tissue together own a total of 25,456,200 Metsa Tissue's shares, which represents 84.85 per cent of Metsa Tissue's voting rights and share capital.
Under the Finnish Securities Market Act, M-real is obligated to make a mandatory redemption offer for the remaining shares and securities entitling to shares in Metsa Tissue. M-real has announced it will launch the redemption offer as soon as practically possible and that the redemption offer price will be EUR 12.30 per share. It is M-real's intention to acquire all Metsa Tissue's shares. According to M-real, its increased shareholding in Metsa Tissue will not influence Metsa Tissue's business operations, and Metsa Tissue will continue to be developed as an independent company.
Also, Svenska Cellulosa Aktiebolaget SCA (Register number 556012-6293) has informed Metsa Tissue Corporation that the SCA group's ownership of Metsa Tissue's voting rights and share capital has fallen to under one- twentieth (1/20) as a result of the share transaction of 20 January 2003. Following the share transaction, the SCA group does not own any Metsa Tissue shares and its ownership of Metsa Tissue's voting rights and share capital is 0 per cent. The SCA group's Metsa Tissue shares were owned by Svenska Cellulosa Aktiebolaget SCA's Dutch subsidiary SCA Hygiene Products De Breul Holding BV (earlier SCA Molnlycke Holding B.V., Register number 30-12 85 95).
Metsa Tissue Corporation has a total of 30,000,000 shares, each with a nominal value of EUR 1.70. Each share entitles the holder to one vote at a general meeting of shareholders.
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