Key Developments: Sappi Ltd (SAPJ.J)

SAPJ.J on Johannesburg Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Sappi Ltd updates on disposal of Usutu Forest Products Company Limited
Wednesday, 16 Jul 2014 08:49am EDT 

Sappi Ltd:Says with reference to announcement of July 01, 2013 regarding intended disposal by Sappi of Usutu Forest Products Company Limited to Montigny Investments Limited.Sappi can confirm that all conditions precedent to successful conclusion of transaction have been met as of July 16, 2014.Purchase consideration to be paid by Montigny to Sappi of one bln rand will be used for general corporate purposes and will reduce Sappi's net debt.  Full Article

Sappi Ltd confirms disposal of Nijmegen Mill
Tuesday, 17 Jun 2014 03:00am EDT 

Sappi Ltd:Reaches agreement to dispose of the mill to an affiliate of American Industrial Acquisition Corp.New name of the Sappi Nijmegen Mill is Innovio Papers.  Full Article

Sappi Ltd announces Glen Pearce to succeed Steve Binnie as chief financial officer
Monday, 17 Mar 2014 04:22am EDT 

Sappi Ltd:Says Glen Pearce, currently the chief financial officer of Sappi Europe SA, will be appointed as chief financial officer (CFO) and join the Sappi Limited Board as an Executive Director on July 01.As announced previously, Steve Binnie, the current CFO, will succeed Ralph Boettger as CEO on that date.  Full Article

Sappi Ltd announces Steve Binnie appointed as Chief Executive Officer
Monday, 10 Feb 2014 02:03am EST 

Sappi Ltd:Says Steve Binnie, currently CFO of the company, will succeed Ralph Boettger as CEO with effect from July. 1.  Full Article

Sappi Ltd's CEO to step down due to ill-health - Reuters
Wednesday, 15 Jan 2014 02:42am EST 

Sappi Ltd:Says its chief executive officer would step down at end of June due to ill-health - Reuters.  Full Article

Sappi Ltd Confirms Delisting From New York Stock Exchange
Monday, 30 Sep 2013 09:07am EDT 

Sappi Ltd announced that with reference to the announcement on September 9, 2013 its intention to delist its American Depositary Shares (ADSs), which are evidenced by American Depositary Receipts (ADRs), from the New York Stock Exchange (NYSE), Sappi Limited (Sappi or the Company) confirms that the delisting of its ADSs from the NYSE became effective on September 30, 2013, as scheduled. This follows the filing by Sappi of a Form 25 with the Securities and Exchange Commission (the “SEC”) on September 19, 2013. Sappi's ADRs will be traded in the U.S. through a Level I over-the-counter ADR program. In addition, Sappi has filed a Form 15F with the SEC today to terminate the Company’s registration and reporting obligations under the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”).  Full Article

Sappi Ltd Announces Disposal Of Usutu Forest Products Company Limited
Monday, 1 Jul 2013 03:00am EDT 

Sappi Ltd announced that through wholly owned subsidiaries Sappi Southern Africa Limited and Brocas Limited (the Sellers) entered into an agreement with Montigny Investments Limited (Montigny) in terms of which,Montigny will acquire all the shares in, and the shareholder loan claim against, Usutu Forest Products Company Limited (Usutu), from the Sellers (Transaction). The aggregate purchase price payable by Montigny to Sappi is ZAR1 billion and will be settled in cash on closing. The proceeds will be used for general corporate purposes and will reduce Sappi's net debt level on a pro forma basis as at March 31, 2013 to USD2,045 million.  Full Article

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