|Suzano Papel e Celulose Announces New Schedule for Ripasa Restructuring
|Sao Paulo, Brazil, 05 May 2006 -- /PRNewswire/ -- Suzano Papel e Celulose (Bovespa: SUZB5), one of Latin America's largest integrated producers of pulp and paper, announced today, in an official announcement filed at the Brazilian Securities and Exchange Commission, the new schedule for the Ripasa Restructuring. The filing included other information referring to the procedure for the signature by the Ripasa shareholders of the Instrument of Consent to the Agreement Suzano and VCP entered April 26, 2006 with a group of Ripasa's shareholders.
The full version of the official announcement filed today may be accessed at http://www.suzano.com.br/opfin. In summary, the announcement states that:
1. The exchange ratios informed in the official announcement filed 20 July 2005 were maintained.
2. A General Shareholders Meeting (GSM) at Ripar was scheduled for 23 May
3. A GSM at Suzano Papel e Celulose was scheduled for 24 May 2006.
4. The Ripasa shareholders may excise withdrawal rights for 30 days
after 24 May 2006.
5. Pursuant to the terms of the Material Fact release on 26 April 2006,
the companies entered into a judicial agreement (the "Agreement") with a group of Ripasa preferred shareholders.
6. The conditions of the Agreement having been met and the Restructuring
concluded, VCP and Suzano shall pay the said group of shareholders
the sum of R$1.0538 (one Real, five centavos and thirty-eight
hundredths of a centavo) ("Complementary Value") for each Ripasa
preferred share held.
7. The payment of the Complementary Value shall be extended to Ripasa's
remaining minority shareholders who sign the "Instrument of Consent"
8. Shareholders who sign the Instrument by 26 June 2006, shall receive,
on 04 July 2006, the Complementary Value corresponding to the number
of shares held by same on 29 June 2006.
9. Ripasa shareholders who do not sign the Instrument by 26 June 2006,
may still do so up to 24 May 2009, and the Complementary Value shall
be paid later, according to the details contained in the Material
Fact filed today.
10. Ripasa shareholders can obtain additional information on the
Agreement and the Instrument by telephone at 0800-169500, between
08:30 and 18:00, Monday through Friday, between 08 May 2006 and 08 July
11. Delivery of the Instrument with subsequent partial or total sale of
the shareholding position, will result in payment of the Complementary Value corresponding to the number of shares held on 29 June 2006.
12. Ripasa shareholders who do not sign the Instrument shall not receive
the Complementary Value.
Suzano Papel e Celulose is one of the largest vertically integrated producers of eucalyptus pulp and paper in Latin America, with pulp production capacity of 1.1 million tons/year and paper production capacity of 820,000 tons/year. It offers a broad range of pulp and paper products for the domestic and international markets, with leadership positions in key Brazilian markets. It has four product lines: (i) eucalyptus pulp; (ii) uncoated woodfree printing and writing paper; (iii) coated woodfree printing and writing paper; and (iv) paperboard. Suzano Papel e Celulose indirectly owns 50% of the controlling interest in Ripasa S.A. Celulose e Papel, which produces pulp, printing and writing paper, specialty papers, paperboard, and cardboards. Ripasa's 2004 net sales were R$1.4 billion, from sales of 612,000 tons of products. It has four industrial units in Sao Paulo State, and forest areas totaling 86,400 hectares.
Source: Suzano Bahia Sul Papel e Celulose S.A.