Ahlstrom-Munksjö Oyj: The merger of Munksjö and Ahlstrom has been registered and the Board of Directors has elected the Chairman and Vice Chairmen

Helsinki, Finland, April 3, 2017 -- The completion of the merger of Ahlstrom Corporation into Munksjö Oyj was registered with the Finnish Trade Register on 1 April 2017. Following the completion of the merger, the name of the combined company has changed to Ahlstrom-Munksjö Oyj (“Ahlstrom-Munksjö”). Trading in the new Ahlstrom-Munksjö shares issued to Ahlstrom’s shareholders as merger consideration will commence today on the Nasdaq Helsinki (trading code: AM1) and Nasdaq Stockholm (trading code: AM1S) stock exchanges.

Hans Sohlström, Chairman of the Board of Ahlstrom-Munksjö, commented:

“With the completion of the merger, Ahlstrom-Munksjö is now devoted to further building its platform for profitable growth. The area of fiber-based materials, contributing to innovative solutions for sustainable end-products, is exciting and expected to enhance future competitiveness and unlock even greater value for our shareholders and customers. I am confident that the company’s combined experiences from earlier business combinations and integration processes will create the best prerequisites for both short-term and long-term performance.”

Jan Åström, President and CEO of Ahlstrom-Munksjö, continued:

“After months of preparations, we can finally start acting as one company. By bringing together our experience, skills and innovation capacity we can add further value to all customers and stakeholders. By being devoted to increase efficiency and lower costs without compromising on our quality leadership I am convinced that we will be able to achieve the communicated target of annual synergies of EUR 35 million and also to add top line opportunities. I am honored to lead our combined team of talented employees and look forward to our future as Ahlstrom-Munksjö.”

Ahlstrom-Munksjö’s Board of Directors following the completion of the merger consists of Sebastian Bondestam, Alexander Ehrnrooth, Johannes Gullichsen, Jan Inborr, Hannele Jakosuo-Jansson, Harri-Pekka Kaukonen, Mats Lindstrand, Anna Ohlsson-Leijon, Elisabet Salander Björklund, Peter Seligson and Hans Sohlström. The Board of Directors has elected Hans Sohlström as Chairman and Peter Seligson and Elisabet Salander Björklund as Vice Chairmen of the Board of Directors.

According to the charter of the Shareholders’ Nomination Board of Ahlstrom-Munksjö, the Chairman of the Board of Directors Hans Sohlström will also act as an expert member of the Shareholders’ Nomination Board. In addition, the Board of Directors has elected Peter Seligson as the second expert member of the Shareholders’ Nomination Board.

Following the registration of the completion of the merger and the new shares issued as merger consideration to Ahlstrom’s shareholders, the share capital of Ahlstrom-Munksjö amounts to EUR 85,000,000 and the total number of shares to 96,438,573.

Furthermore, following the completion of the merger, the effective date for the amendments to the terms and conditions of the EUR 100 000 000 senior unsecured callable fixed rate notes due 2019 (ISIN: FI4000108501, trading code: AMJ041219), originally issued by Ahlstrom Corporation and transferred to Ahlstrom-Munksjö in the merger, occurred on 1 April 2017.

The merger also constitutes a corporate restructuring event as defined under the terms and conditions of the EUR 100 million capital notes (ISIN: FI4000068911) (hybrid bond) originally issued by Ahlstrom Corporation and transferred to Ahlstrom-Munksjö in the merger. Ahlstrom-Munksjö has today decided to redeem the hybrid bond in accordance with its terms and conditions.

As previously communicated, the new financing arranged in connection with the merger also consists of multicurrency term facilities and a revolving credit facility, with Nordea and SEB as mandated lead arrangers and underwriters, as well as a bridge facility. The syndication of the term loan facilities and the revolving credit facility have also been completed as previously announced.

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