STOCKHOLM, Sweden, Nov. 12, 2002 (PRIMEZONE) -- The Board of Directors in Sapa AB (publ.) (Other OTC:SPKKF) has decided to change listing of the Company's shares from Stockholmsborsen's A-list to its O-list. The reason for this is to give Sapa's shareholders a possibility to benefit from the more favourable tax rules regarding inheritance and gift tax, that prevail for shares which are listed on the O-list as compared to the rules that applies to shares registered on the A-list.
"The inheritance and gift tax is almost three times as high for shares listed on the A-list as compared to shares listed on the O-list. This difference in taxation is hard to understand," said Per-Olof Eriksson, Chairman of the Board of Sapa.
"The Minister of taxation at the time, in May 1997, stated the willingness to review the system with separate taxation between different lists on the stock exchange. With this prospect Sapa moved listing of its share from the O-list to the A-list in September 1999. We are now faced with the fact that the difference in taxation still prevail and for this reason we move back to the O-list," said Per-Olof Eriksson, Chairman of the Board of Sapa
As from November 26, 2002 Sapa will be found on Stockholmsborsen's O-list under the name SAPA (Stockholm:SAPA).
For further information please contact: Per-Olof Eriksson, Chairman of the Board +46-8-459 59 11
Sapa is an international industrial group, which develops and markets value-added aluminium profiles, profile-based components and systems, and heat exchanger strip in aluminium. Sapa has an annual turnover of approximately 12 billion SEK, with 6,500 employees all over Europe and in USA and China. Sapa is one of Europe's leading companies within its field and the customers are found in the transport, building, engineering and telecom industries. Sapa is listed on Stockholmsborsen.
Further information about Sapa can be found on our web site www.sapagroup.com
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http://www.waymaker.net/bitonline/2002/11/12/20021112BIT00360/wkr0001.doc
http://www.waymaker.net/bitonline/2002/11/12/20021112BIT00360/wkr0002.pdf