STOCKHOLM, Sweden, Aug. 27, 2004 (PRIMEZONE) -- Today the Supreme Court in India upheld the ruling by The Securities and Exchange Board of India (SEBI) that Swedish Match AB and certain of its subsidiaries make a public offer to acquire 20 percent of the shares outstanding in Wimco Ltd, an Indian match company publicly traded on the Indian Stock Exchange. In accordance with the ruling, the price per share shall be not less than 35 INR plus interest.
As a result of this decision, an amount of 100 - 120 MSEK will be recorded as an item affecting comparability in the fiscal third quarter financial results.
Swedish Match is a unique company with its range of market-leading brands in the product areas of snuff and chewing tobacco, cigars and pipe tobacco -- tobacco's niche products -- as well as matches and lighters. The Group's global operations generated sales of 13,133 MSEK in 140 countries for the twelve month period ending June 30, 2004. Swedish Match shares are listed on Stockholmsborsen (SWMA) and Nasdaq (SWMAY).
Swedish Match AB (publ), SE-118 85 Stockholm Visiting address: Rosenlundsgatan 36, Telephone: + 46 8 658 02 00 Corporate Identity Number: 556015-0756 www.swedishmatch.com
For further information, please contact:
Sven Hindrikes, President and Chief Executive Officer Office +46 8 658 02 82, Mobile +46 70 567 41 76
Lars Dahlgren, Chief Financial Officer Office +46 8 658 04 41, Mobile +46 709 58 04 41
Bo Aulin, Senior Vice President, Secretary and General Counsel Office +46 8 658 03 64, Mobile +46 70 558 03 64
Emmett Harrison, Vice President, Investor Relations Mobile +46 70 938 01 73
Rich Flaherty, CFO North America Division, US Investor Relations contact Office +1 804 302 1774
This information was brought to you by Waymaker http://www.waymaker.net