Salcomp Oyj - Company Announcement

NORDSTJERNAN WILL NOT SUPPORT THE PAYMENT OF DIVIDEND IN SALCOMP AND FILING APPLICATION TO REDEEM MINORITY SHARES FOR EUR 2.00 PER SHARE

Salo, Finland, 2011-03-21 08:25 CET (GLOBE NEWSWIRE) -- Salcomp Plc       Stock
Exchange Release 21 March 2011 at 9:25 Finnish time 

Salcomp Plc (“Salcomp”) has received the following information from
Nordstjernan AB (“Nordstjernan”). 


“Nordstjernan is currently the holder of more than nine tenths (90 per cent) of
all shares in Salcomp. Nordstjernan has acquired, and will continue acquiring,
additional Salcomp shares at a price not exceeding EUR 2.00 per share. As
announced earlier, Nordstjernan will also initiate redemption proceedings with
respect to the shares held by the minority shareholders of Salcomp, and through
such proceedings acquire all remaining Salcomp shares and eventually delist the
company. 


According to the invitation to the Annual General Meeting of Salcomp (“AGM”) to
be held on 24 March 2011, the Board proposes to the AGM that a dividend of EUR
0.07 would be paid for each outstanding share. 


In light of the recent circumstances, Nordstjernan will not support the payment
of any dividend and will thus vote against the Board's proposal in the AGM.” 


Nordstjernan has also informed that it has filed the application to the
Redemption Board of the Finnish Central Chamber of Commerce in order to
initiate the arbitration to redeem the minority shares. According to the
application, the offered redemption price is EUR 2.00 per share and in case any
dividend or other distribution is paid out by Salcomp to its shareholders
before the redemption process is finalized, the price offered in the redemption
proceedings shall be reduced by the amount of the dividend or other
distribution. 


SALCOMP PLC


Markku Hangasjärvi
President and CEO


Further information:
Markku Hangasjärvi, President and CEO, Salcomp Plc, p. +358 40 7310 114
Tomas Billing, President, Nordstjernan AB, +46 8 788 50 18


Distribution:
NASDAQ OMX, Helsinki
The main media
www.salcomp.com


         Markku Hangasjärvi, President and CEO, Salcomp Plc, p. +358 40 7310 114
         Tomas Billing, President, Nordstjernan AB, +46 8 788 50 18