Milini Holding Limited and Mr V. Samoriz issue this press release to confirm a settlement of all disputes with regard to Pehami’s Group Companies, including Pehami B.V., Visand B.V., Premium Board Capital Oy, Premium Board Finland Oy, Juantehtaan Ympäristö Oy and Juankosken Biolämpö Oy.
Under the terms of the settlement it was agreed that Mr V. Samoriz will transfer the total majority stockholding (83.33%) to Milini Holding Limited (“Milini”). Mr Samoriz will withdraw his participation from the Group’s shareholding as soon as the conditions of the settlement agreement have been met. Mr Samoriz does not intend to compete with Milini or any of the Group Companies within paperboard and barrier coating production.
Mr V. Samoriz and his affiliates will withdraw from the Group management and the boards of directors. Meanwhile Mr Samoriz wishes Milini and their new management success in the further development of the Group Companies in the barrier coating and paper board business.
Any and all IPR, Know-How and related rights used in (including Tecta and VisorCote), developed for or relating to the business of the Group shall remain with the Group Companies as well as the rest of the companies’ assets.
The Parties believe that the above settlement is in the best interests and to the long-term benefit of the Group Companies and their stakeholders.
January 03, 2017, Amsterdam, Netherlands