Stockholm, 2010-11-30 18:00 CET (GLOBE NEWSWIRE) --
The recently completed rights issue in RusForest AB (publ) ("RusForest" or the "Company") has entailed an increase in the number of shares and votes in the Company as follows:
Before the rights issue there were 21,840,840 shares in RusForest, corresponding to 21,840,840 votes. Through the rights issue, the number of shares and votes in the Company increased by 43,681,680. After the rights issue, as at November 30, 2010, the total number of shares and votes in RusForest amounts to 65,522,520.
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
About RusForest AB (publ)
RusForest is a forestry and sawmilling company operating in Eastern Siberia, Russia, and controlling long term leases covering over 850 thousand hectares of forest land. Alongside Brazil, Russia has the world's largest forest reserves by a significant margin, and Eastern Siberia is world renowned for its Pine and Larch of exceptional quality.
Through a series of acquisitions and development projects, RusForest increased sawnwood production by 37.9 percent in 2009, to 166,333 m3, in spite of weak market conditions. RusForest's goal is to develop into a leading independent integrated forestry and sawmilling company in Russia, with an annual harvest of 1.8-2.0 million m3 and an annual sawnwood production of 550,000-600,000 m3 during the coming four years.
