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2008-06-02 13:30:00 CEST 2008-06-02 13:30:00 CEST REGULATED INFORMATION Amanda Capital - Company AnnouncementAMANDA CAPITAL HAS SETTLED INTERGLOBIA LTD'S BANKRUPT ESTATE'S AND INTERAVANTIAMANDA CAPITAL PLC STOCK EXCHANGE RELEASE June 2, 2008 AMANDA CAPITAL HAS SETTLED INTERGLOBIA LTD'S BANKRUPT ESTATE'S AND INTERAVANTI PLC'S LAWSUITS Amanda Capital Plc has settled its litigation with Interglobia Ltd's bankrupt estate and Intervanti Plc. Amanda will book at most a four million euro one-off expense of the settlement into its second quartile's result. It is possible that Amanda will receive part of the expense back from third parties. Lawsuits connect to Amanda Capital Plc's predecessor Finvest Plc's deals made in 1997, with which Finvest Plc bought the shares of three subsidiaries of Interglogia group and sold the shares of its subsidiary named Interglobia Plc to Canadian Beninco Holdings Canada Inc. On 30 June 2005, Helsinki District Court dismissed the lawsuits filed against Amanda Capital Plc by Interglobia Ltd's bankrupt estate and Interavanti Plc. On 19 September 2005, Interavanti Plc and Interglobia's bankrupt estate filed an appeal against the decision by Helsinki District Court with the Court of Appeal. According to the matters that emerged at the Court of Appeal, Amanda's board of directors, management and advisors considered the achieved settlement to be reasonable outcome compared to the magnitude of the risk associated with the trial. AMANDA CAPITAL PLC BOARD OF DIRECTORS Additional Information: CEO Petteri Änkilä, tel. +358 9 6829 6011 Distribution: OMX Nordic Exchange in Helsinki, www.amandacapital.fi The Amanda Group is a private equity management company. Its parent company is the first publicly listed private equity fund of funds in Scandinavia. Amanda has investments in 24 private equity funds and in four funds of funds under Amanda's own management. Amanda Group is one of Finland's largest management companies of private equity fund investments. It manages several private equity fund portfolios under consultancy agreements and six private equity funds of funds with several domestic and international institutions as investors. Amanda Group currently has EUR 2.3 billion of assets under management (original investment commitments) with which it has made investments in more than 100 private equity funds in Europe, the US, Asia, and Russia. |
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