Determination of acquisition costs of Munksjö and Ahlstrom shares for Finnish taxation
Helsinki, Finland, 2013-06-24 08:03 CEST (GLOBE NEWSWIRE) --
MUNKSJÖ OYJ, STOCK EXCHANGE RELEASE
The trading in Munksjö Oyj's (Munksjö) shares commenced on the Helsinki Stock
Exchange (NASDAQ OMX Helsinki Ltd) on 7 June, 2013.
As demerger consideration for the demerger of Ahlstrom Corporation's (Ahlstrom)
Label and Processing business in Europe (LP Europe) that was registered with
the Finnish Trade Register on 27 May, 2013 the shareholders of Ahlstrom
received 0.25 new shares in Munksjö for each share owned in Ahlstrom. The
original acquisition cost of Ahlstrom shares will in Finnish income taxation be
divided between Ahlstrom shares and Munksjö shares received in the demerger.
The share acquisition cost is used for the calculation of capital gains and/or
losses from share transactions for Finnish tax purposes.
Based on the average weighted trading prices, the proportion of the current
values of Munksjö and Ahlstrom shares does not differ significantly from the
proportion of net assets of LP Europe and the total net assets of Ahlstrom.
Thus, the original acquisition cost of Ahlstrom shares is divided based on the
proportion of net assets at the effective time of the demerger. LP Europe's
transferred net assets were 11.3% of the total net assets of Ahlstrom.
Consequently, of the original acquisition cost of one Ahlstrom share, 11.3%
will be transferred to an acquisition cost of 0.25 Munksjö share.
Example: If an Ahlstrom shareholder has purchased four Ahlstrom shares at a
total price of EUR 40 (EUR 10 per share), the acquisition cost of one Munksjö
share received as consideration in the LP Europe demerger is EUR 4.52 (11.3% *
EUR 40). The acquisition cost of the four Ahlstrom shares is after the demerger
EUR 35.48 or EUR 8.87 per share.
This does not apply to Munksjö or Ahlstrom shareholders residing permanently
outside of Finland. Shareholders who are tax resident outside of Finland are
recommended to contact their tax advisors or local tax office regarding the
split of the acquisition cost in taxation.
For more information:
Laura Lindholm, Investor Relations Manager, tel. +46 10 250 1026
Attachments:Acquisition cost SER ENG 24062013.pdf