Stockholm, 2010-07-26 18:00 CEST (GLOBE NEWSWIRE) --
In acknowledgement of his efforts to strengthen the management of RusForest AB (publ) ("RusForest" or "the Company") and to further develop the Company, the board of directors has granted Martin Hermansson 300,000 warrants under RusForest's 2010/2015 employee stock option plan adopted at the annual general meeting held on May 20, 2010.
The terms and conditions for RusForest's employee stock option plan 2010/2015 are available on the Company's website (www.rusforest.com).
About RusForest AB (publ)
RusForest is the only listed Russian forestry and sawmilling company, with operations based in Eastern Siberia and long term leases covering over 850 thousand hectares of forest land. Russia has the world's largest forest reserves by a significant margin, and Eastern Siberia is renowned for its Pine and Larch of exceptional quality.
Through a series of acquisitions and development projects RusForest increased sawnwood production by 37.9% in 2009, to 166,333 m3, in spite of weak market conditions. RusForest has a number of exciting development projects, in particular the turn-key sawmill in Magistralny which is expected to add a further 50% to RusForest's sawnwood volumes upon completion.
For further information please contact:
Martin Hermansson, CEO, phone: +7 903 015 64 65, +7 985 921 92 32
or
Erik Löfgren, External Relations, phone: +7 910 417 7670
RusForest AB's Certified Adviser on First North is HQ Bank
