Aspo reviewing preconditions for listing Leipurin on the

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News Desk 2018

Nov 27, 2013 at 1:45 AM

Aspo reviewing preconditions for listing Leipurin on the Helsinki stock exchange

ASPO Plc Stock Exchange Release November 27, 2013 at 8:30 a.m. The board of Aspo has decided review the preconditions for listing Leipurin Ltd, fully owned by Aspo, on the Helsinki stock exchange. The goal of Aspo would be to remain the minority owner of Leipurin Ltd. Aspo is a conglomerate that owns and develops the strongest companies in its fields of business. The development of Aspo's group structure and related structural changes are an essential part of the company's strategy. The goal of all structural changes is always to create value to Aspo shareholders. "Aspo has lots of good experiences on structural changes in accordance with the strategy. We have acquired large business functions and developed them to make them more valuable, and have also freed up capital by divesting business functions. Our view is that Leipurin has reached a stage where listing would be the strategically best option. At the same time, we consider listing as the best choice in order to increase Aspo's shareholder value," says Aki Ojanen, CEO of Aspo. Leipurin has grown profitably during the last five years. In Aspo's ownership, Leipurin has also expanded substantially on the eastern market. Just in Russia, the company has offices and warehouses in 13 cities, covering all the economic areas of the country. "We estimate that the current size, profitability and structure of Leipurin is such that it could operate as a separate unit and finance its future growth on its own. In addition, we are confident that an independent Leipurin Ltd will appeal to investors. Through the listing, the solid position of Leipurin on the eastern market would become more transparent. Our view is that the company still has extensive growth opportunities, and that is why the goal of Aspo would be to remain the company's minority owner," says Ojanen. "If the listing is realized, it would be possible for Aspo to take the next step forward. With the capital obtained from the possible listing of Leipurin Ltd, it would be possible for us to develop our existing brands more powerfully and to invest in new business functions when necessary. The goal of all structural changes is to provide our shareholders with more value," says Gustav Nyberg, Chairman of Aspo board. When the results of the review are complete, Aspo will issue a separate stock exchange release on them. If realized, the listing could take place in the next few years, depending on the market situation. ASPO Plc Aki Ojanen CEO More information: Aki Ojanen, CEO, Aspo Plc Gustav Nyberg, Chairman of the Board, Aspo Plc Interview booking and call requests, Hilkka Jokiniemi, tel. +358 40 7595925 Aspo is a conglomerate that owns and develops business operations in the Northern Europe and growth markets focusing on demanding B-to-B customers. Our strong company brands - ESL Shipping, Leipurin, Telko and Kaukomarkkinat - aim to be the market leaders in their sectors. They are responsible for their own operations, customer relationships, and the development of these. Together they generate Aspo's goodwill. Aspo's Group structure and business operations are continually developed without any predefined schedules. Leipurin serves the bakery industry and other food industry by providing product development services, raw materials needed for baking, and equipment from individual machines to full-scale baking lines. Leipurin operates in Finland, Russia, the Baltic countries, Poland, Ukraine, Belarus, and Kazakhstan. Leipurin's net sales in 2012 amounted to EUR 131.1 million and operating profit EUR 4.0 million. [HUG#1745985]

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