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2009-07-07 16:05:03 CEST 2009-07-07 16:06:03 CEST REGULATED INFORMATION Ruukki Group Oyj - Company AnnouncementLAPPIPANELI OY, THE SUBSIDIARY OF RUUKKI GROUP PLC, HAS INSTITUTED PROCEEDINGS AGAINST SAMPO BANK PLCRuukki Group Plc, Stock Exchange Release, 7 July 2009 at 5:05 p.m. LAPPIPANELI OY, THE SUBSIDIARY OF RUUKKI GROUP PLC, HAS INSTITUTED PROCEEDINGS AGAINST SAMPO BANK PLC Ruukki Group Plc announces that its subsidiary Lappipaneli Oy has today filed an action for damages at Helsinki District Court against Sampo Bank Plc which belongs to the Danske Bank group. The matter concerns disagreements related to currency hedging transactions. The claim for damages is approximately six million euro. In addition to this, claims for interests and costs are related to the matter. At this stage of the dispute Ruukki Group Plc is not aware of the possible counterclaims of the counterparty related to the dispute of currency disputes. In Ruukki Group's interim report as of 31 March 2009 the capital being the object of the disagreements has already been fully recognised as an expense in the group income statement. The majority of the capital losses being the object of the disagreements has also been paid, whereupon the matter will not have a substantial negative cash flow influence. The matter will be dealt with in normal district court proceedings, whereupon the schedule of the proceedings is dependent on the scheduling of the District Court. RUUKKI GROUP PLC Alwyn Smit Chief Executive Officer Ruukki Group specialises in industrial refining of certain natural resources. The Group has two focus areas: Wood Processing and Minerals. Ruukki Group Plc's shares are listed on Nasdaq OMX Helsinki and traded in the mid cap segment, in the industrials sector. For additional information, please contact: Antti Kivimaa Deputy CEO, domestic wood processing Ruukki Group Plc Telephone +358 10 440 7015 www.ruukkigroup.fi Distribution: Helsinki Stock Exchange Main media This stock exchange release is based on a translation into English of a document originally written in Finnish. In case of any discrepancies, inconsistencies or inaccuracies, the Finnish version shall prevail. |
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