STOCKHOLM, Sweden, Aug. 21, 2002 (PRIMEZONE) -- Sapa's chairman of the Board, Per-Olof Eriksson, comments on the Board of Directors' recommendation after the board meeting this morning:
"The Board of Directors has arrived at the conclusion that the Sapa- share in the long-term has a considerably higher value than the offered SEK 175 per share which is a view also supported by external advisors. However, the circumstances on the stock exchange are such that many shareholders are sellers for short-term reasons. The Board has not been able to obtain any guarantees that a large enough minority block of shareholders is prepared to reject the offer."
"The larger shareholders have sufficient capacity to analyse this situation in order to make their own decisions, and I await with interest those decisions taken at the end of the acceptance-period," said Per-Olof Eriksson.
"The Board sees as its primary responsibility to advise the small shareholders and have reluctantly come to the conclusion that they ought to accept the offer. The reason being not to be subject to exceptionally low share prices following reduced liquidity in the share as a result of a higher concentration of owners," finalised Per-Olof Eriksson.
For further information please contact chairman of the Board, Per-Olof Eriksson, +46-26-27 02 02.
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 6,600 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 the A-list of Stockholmsborsen.
Further information about Sapa can be found on our web site www.sapagroup.com
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