STOCKHOLM, Sweden, June 13, 2002 (PRIMEZONE) -- The prospectus on the public takeover offer directed by Outokumpu Steel Oyj (subsequently renamed AvestaPolarit Oyj) to shareholders of Avesta Sheffield AB has been named the winner of the Best Prospectus of 2001 competition. The company's advisor was Carnegie. The award jury's decision was based on the following rationale: "The prospectus gave readers a rock-solid and exhaustive basis for making decisions regarding the offer."
Each year, Stockholmsborsen arranges a seminar on the topic of prospectuses, with the aim of stimulating listed companies to improve and develop the prospectuses they issue. On Wednesday, in conjunction with this year's seminar, the results of the jury's assessment work for the Best Prospectus of 2001 were announced. This is the second time that the competition has been arranged. The jury had examined and assessed a total of 45 prospectuses issued in 2001, including 30 IPO prospectuses and 15 takeover prospectuses.
"The competition is a feature of the sector's self-controls. Hopefully, it will survive and be broadened to include more types of prospectuses in the years ahead," said Bertil Edlund, chairman of the jury. "The jury's work was conducted in accordance with the 'good example' method." Accordingly, several prospectuses were commended for being role models in various respects. The winner of this year's competition is AvestaPolarit Oyj, thanks to the prospectus's generally confidence inspiring character, with ambitious, exhaustive and initiated analyses and comments. A thorough review of the market, market conditions and market prospects provided readers with a comprehensible account of the benefits expected from the merger. In addition to the winner, AvestaPolarit Oyj, the jury gave special commendations to six prospectuses: Addtech AB, BTS Group AB, D. Carnegie AB, Lagercrantz Group AB, Hilton Group PLC and Vitrolife AB.
"The jury assigned prominence to the interests of consumers. The point of departure was that the prospectus must serve as a basis for decisions taken by a reasonably knowledgeable investor who does not have special research resources at his/her disposal. Although many prospectuses displayed high ambitions and can serve as role models in this respect, the differences in terms of quality are considerable, as was the scope for improvement. As in the preceding year, extremely few prospectuses contained comments about the valuation and price level of shares. This is an area where we would like to see further discussion," commented Edlund in conclusion. The jury for the Best Prospectus of 2001 competition consisted of Bertil Edlund, chairman, Alf Blomqvist, Ragnar Boman, Hans Edhammar, Mats Hallvarsson, Jack Junel and Lars Ostman.
For further information, please contact Bertil Edlund, jury member 70-71 00 912/08-555 33 102. Mats Hallvarsson, jury member +46-709-711 242 Anders Ackebo Head of Listing and Surveillance Stockholmsborsen +46-73-077 52 23
A description of the background to the competition, the jury, working format and assessment rules, as well as the reasons for the jury's commendations have been collected in the Best Prospectus of 2001 publication, which can be ordered via Stockholmsborsen's website: www.Stockholmsborsen.se
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