April 3. 2006
HK Ruokatalos and Danish Crowns joint venture is planning to de-list Polish meat company Sokolów
HK Ruokatalo Groups and Danish Crowns joint venture, Saturn Nordic Holding AB, is to ask the Warsaw Stock Exchange to remove the shares of meat company Sokolów S.A. from the list. Saturn Nordic Holding will in this connection launch a public tender offer to the Polish securities market whereby it offers to acquire the remaining shares in Sokolów.
Saturn Nordic Holding currently owns 82.45 per cent of the Sokolów shares listed on the Warsaw Stock Exchange. Sokolów has issued a total of 101,467,444 shares, with each share conveying one vote.
The public offer is made under Polish securities market legislation and it applies to all shares not currently owned by Saturn Nordic Holding. The price offered per share is PLN 5.80 (appr. EUR 1.47). The
subscription period will commence on 12 April 2006 and expire on 11 May 2006.
Saturn Nordic Holding has a majority in Sokolów since September 2004. The public offer is a further step in the strategic cooperation between HK Ruokatalo Group and Danish Crown to consolidate ownership
and control of Polands leading meat company. HK Ruokatalo Group and Danish Crown regard their investment as a long-term investment and intend to re-invest a significant proportion of Sokolóws earnings into the company rather than realize them in dividends.
Saturn Nordic Holding does not exclude the possibility of mandatory squeeze-out of Sokolóws minority shareholders in a later phase. HK Ruokatalo Group executes in Sokolów both short and long term strategy regarding meat processing in the Eastern and Central Europe. HK Ruokatalo Group trusts joint ownership will foster Sokolóws good progress also in future by enhancing Sokolóws business profile, growth and expansion on the local and international markets maintaining the status of an independent entity.
For further information:
HK Ruokatalo Group Oyj
Kai Seikku, CEO
Helsinki Stock Exchange
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