Aspis to acquire Lemeco

The Board of Directors of Aspis Holdings Pcl (MFS) announced its decision to proceed with a Public Offer to acquire a minimum 51% up to a maximum of 100% of the share capital of Lemeco Silvex Industries Pcl (LEM) at a cash consideration price of EUR 0.10 per share. The major shareholder of LEM, Elma Holdings Pcl (ELMA) has irrevocably agreed to dispose 51% of its shareholding in LEM to MFS.

The public offer is subject to the approval of the relevant authorities. For 2006 LEM reported losses of EUR200.000, while LEM’s shareholders funds at the end of 2006 amounted to EUR4.3 mln or EUR0.10/share.