KLIPPAN, Sweden, Dec. 02, 2005 (PRIMEZONE) -- KLIPPAN AB's and KLIPPAN Molndal AB's proposed compositions were ratified on 3 and 4 November respectively through decisions by the Helsingborg and Molndal District Courts respectively.
These decisions have now come into force.
The previously decided upon but delayed new share issue for some MSEK 200 has become fully guaranteed during the reconstruction. However, one condition for the guarantee was the ratification of the composition by the District Courts and the decisions coming into force, as has occurred as per above. This therefore means that KLIPPAN during December 2005 will be able to carry out the previously delayed, and now fully guaranteed new share issue.
As the reconstruction has thus provided preconditions for creating a strong and profitable KLIPPAN, the reconstruction process will be completed as at 2 December 2005. From that date, KLIPPAN will revert to normal conditions, entailing that all special regulations and limitation that have applied during the reconstruction will cease.
KLIPPAN AB
Thomas Billing Mananging Director
KLIPPAN is a leading producer of speciality paper for the graphic industry with a total capacity of 200,000 tons per year. Production is carried out at the three mills in Klippan, Lessebo and Molndal.
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