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PCB | November 09, 2007

Aspocomp postpones information about ACPE

Finland based PCB producer Aspocomp postponed the release of information concerning the summons against it's Chinese subsidiary ACPE Electronics.
Aspocomp Group Oyj has on 29th October 2007 informed Financial Supervision and OMX Nordic Exchange Helsinki Oy of its decision to postpone the release of information belonging to the scope of ingoing disclosure requirements as far as it concerns the summons against Aspocomp Group Oyj's subsidiary, ACPE Electronics, in China whereby an attachment had been applied on the company's assets and the company was claimed to repay USD 5 million with interest and on basis of which the company's bank account and some other property had been frozen. The reason for postponement of the information to market was that the release of the information could have jeopardized the finalization of the partnership negotiations aiming at improving the company's long term financial position.

Aspocomp has given a stock exchange release on 8th November 2007 according to which Aspocomp has signed the above referred agreement according to which it will contribute its shareholdings in its subsidiaries in China and India as well as certain equipment from its Salo plant to a new holding company. 80 percent of the shares of the holding company will be sold to Meadville Holdings Limited, a Hong Kong listed parent company of the Meadville Group.

Aspocomp has been informed that the injunction against Aspocomp's subsidiary, ACPE Electronics, has been agreed to be withdrawn per the Settlement Agreement signed today.

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