12 Jun 2015 07:00
12 June 2015
Powerflute Oyj
Director's Dealing
Powerflute Oyj ("Powerflute" or the "Company"), was notified on 11 June 2015 of the following sales of shares in the Company by Dermot S Smurfit, Non-Executive Director:
· On 10 June 2015, 100,000 shares at a price of 65.25 pence per share; and
· On 11 June 2015, 92,500 shares at a price of 67.06 pence per share.
Following the dealings Dermot S Smurfit holds 1,503,056 shares representing 0.5 per cent. of the issued share capital of the Company (excluding shares held in treasury).
- Ends-
For further information, please contact:
Powerflute Dermot Smurfit (Chairman) Marco Casiraghi (CEO) David Walton (CFO)
|
c/o Oliver Winters, FTI Consulting +44 20 3727 1535 |
Numis Securities Mark Lander (Corporate Broking) Andrew Holloway / Jamie Lillywhite (Nominated Advisor)
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+44 20 7260 1000 |
FTI Consulting Oliver Winters Tom Hufton
| +44 20 3727 1535 |
About Powerflute
Powerflute is a paper and packaging group quoted on the AIM market of the London Stock Exchange (Ticker: POWR) which seeks to acquire businesses with strong fundamentals whose performance can be improved through a combination of management focus and targeted investment.
The Group currently has two main activities; Packaging Papers which trades under the name Powerflute and operates a paper mill in Kuopio, Finland producing a specialised form of Nordic semi-chemical fluting used in the manufacture of high-performance corrugated board; and Coreboard and Cores, which trades under the name Corenso and is a leading international manufacturer of high performance coreboard and cores, with coreboard mills in the United States and Europe and a network of core producing facilities in Europe, North America and China.
Nordic semi-chemical fluting is made from locally soured birch and boxes manufactured using it demonstrate superior strength and moisture resistance and are used for transportation of fruit and vegetables, high-value industrial goods such as electrical appliances and automotive components. The Kuopio mill is one of only three suppliers of Nordic semi-chemical fluting in Europe.
Cores and coreboard are manufactured from recycled paper and are used for applications in paper, packaging, textiles, steel, aluminium and many other industries. Coreboard and cores produced by Corenso demonstrate superior strength and rigidity and are suitable for use in the most demanding applications.
For further information, please visit www.powerflute.com.