Arctic Paper S A : Receiving a decision on support by Issuer's subsidiary
March 11, 2024 at 12:43 pm EDT
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Published: 2024-03-11 17:30:00 CET
Arctic Paper AB
Inside information
Receiving a decision on support by Issuer's subsidiary
Management Board of Arctic Paper S.A. ("Company", "Issuer") informs that on 11th of March 2024, it received information that the Ministry of Development and Technology granted the subsidiary Arctic Paper Kostrzyn S.A. a decision on public aid for development investments. These investments will aim at modernizing paper machines, improving the efficiency and energy consumption of the paper production process and building infrastructure.
The decision to provide support was granted on the following conditions:
If used tax exemption for eligible costs, the maximum amount of eligible investment costs will be PLN 133.9 million zlotys;
The maximum nominal value of the aid in the form of tax exemptions will amount to PLN 53.4 million zlotys, (40% of the expenditure incurred)and will depend on actual investment expenditures. Arctic Paper Kostrzyn SA will be entitled to benefit from aid after the investment is completed for a fixed period of 14 years from the decision's issuance date;
New investments will be implemented in the period from 1st of April 2024 until 31st March 2027.
Moreover, Arctic Paper Kostrzyn S.A. is obliged to meet certain quality and employment criteria.
The planned investments in the Kostrzyn factory are consistent with the goals of the 4P Strategy and will bring the Arctic Paper Group closer to implementing the 4P Strategy in terms of increasing production efficiency and environmental neutrality of processes.
Specific legal basis:
Art. 17 sec. 1 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC.
Further information provided by:
Michał Jarczyński, President of the Management Board of Arctic Paper, tel. (+48) 73 033 98 17
This information is disclosed pursuant to the Article 17 Section 1 of the Market Abuse Regulation - inside information and was submitted for publication on 11th of March 2024 at 5:30 pm CET, in reference to Arctic Paper's current report no. 4/2024 filed with the Warsaw Stock Exchange
Attachments:
03113960.pdf
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Arctic Paper SA is a Poland-based holding company engaged in the paper industry. The Company divides its business into three segments of graphic paper: Fine paper, Newsprint, and Magazine paper. The Company's main activities are manufacturing and sale of graphic fine uncoated and coated paper, under the brands: Amber, G-Print, Munken, Pamo, Arctic, L-Print and AP Tech, among others. It offers uncoated wood-free paper, coated wood-free paper, as well as uncoated wood-containing paper. The Company operates four paper mills, located in Kostrzyn, Poland, Munkendals and Grycksbo, Sweden, and Mochenwangen, Germany. Among the Companyâs customers are printing houses, distributors, publishing houses and advertising agencies. The Company is a parent entity of the Arctic Paper Capital Group As of December 31, 2011 Arctic Paper AB, based in Sweden, held a 74.8% stake in the Company. On February 26, 2013, the Company increased its stake in Rottenros AB to 54.2%.
ARCTIC PAPER S.A. 
