07:00 London, 09:00 Helsinki, 1 March 2011 – Ruukki Group Plc, Stock Exchange Release
RUUKKI GROUP PLC’S SUBSIDIARY LP KUNNANHARJU OY AND SAMPO BANK PLC ENTER INTO A COMPENSATION AGREEMENT
Ruukki Group Plc (“Ruukki” or the “Company”) (LSE: RKKI, OMX: RUG1V) is pleased to announce that its subsidiary, LP Kunnanharju Oy (former Lappipaneli Oy), and Sampo Bank Plc have reached an agreement which ends proceedings in the Helsinki District Court concerning disagreements related to currency hedging transactions, dating back to 2008 as announced on 7 July 2009.
LP Kunnanharju Oy will pay compensation amounting to approximately EUR 2.86 million to Sampo Bank Plc in full and final settlement of this dispute. Ruukki had previously booked a liability of EUR 3.32 million for this dispute and this settlement will therefore have a positive effect of about EUR 0.47 million on Ruukki’s first quarter 2011 profit.
RUUKKI GROUP PLC
Danko Koncar
Acting Managing Director
For additional information, please contact:
Ruukki Group Plc
Markus Kivimäki, Head of Corporate Affairs, +358 50 3495 687, markus.kivimaki@ruukkigroup.fi
Thomas Hoyer, CFO, +358 45 6700 491, thomas.hoyer@ruukkigroup.fi
Investec Bank Plc
Stephen Cooper, +44 (0)20 7597 5104, stephen.cooper@investec.com
RBC Capital Markets
Martin Eales, +44 (0)20 7653 4000, martin.eales@rbccm.com
Peter Barrett-Lennard, +44 (0)20 7653 4000, peter.barrett-lennard@rbccm.com
Ruukki Group is a natural resources company, with a mining and minerals business in southern Europe and South Africa. The Company is listed on NASDAQ OMX Helsinki (RUG1V) and the Main Market of the London Stock Exchange (RKKI).
www.ruukkigroup.fi