NEO INDUSTRIAL PLC STOCK EXCHANGE RELEASE 29 April 2014 at 3.15 pm
THE DISMISSION OF THE BANKRUPTCY ESTATE OF KUITU FINLAND’S ACTION BECAME LAW
The action against Neo Industrial Plc regarding the personal quarantee on the purchase of the mill real estate of Neo Industrial’s subsequently bankrupted Avilon Fibres Ltd as non-current compensation was dismissed by the District Court of Pirkanmaa on 17 March. The quaranteed debt of EUR 5 million as well as building cost index is due for payment during 25 years in accordance with the agreement.
The bankruptcy estate of Kuitu Finland has not filed a letter of complaint by the closing date and the decision of the District Court of Pirkanmaa is final and legally valid.
The decision of the District Court has no effect on the financial statements of Neo Industrial Plc.
Neo Industrial Plc
Jari Salo
Managing Director
For further information, please contact:
Jari Salo, Managing Director, tel. +358 207 209 196
Sari Tulander, CFO, tel. +358 207 209 192
www.neoindustrial.fi
Neo Industrial's strategy is to invest mainly in industrial companies with similar synergic benefits. The aim of investments is with active ownership to develop the purchased companies and establish additional value. Returns are sought through both dividend flow and an increase in value. Neo Industrial's class B shares are listed on the NASDAQ OMX Helsinki Stock Exchange. Neo Industrial's business segment is Cable Industry.