SAPPI LTD (SAP) 6-K

ANNEXURE 2
INDEPENDENT REPORTING ACCOUNTANTS’ REPORT ON THE
HISTORICAL FINANCIAL INFORMATION OF THE ACQUIRED BUSINESS
“The Directors
Sappi Limited
Sappi House
48 Ameshoff Street
Braamfontein
Johannesburg
2001
Dear Sirs
REPORT OF THE INDEPENDENT REPORTING ACCOUNTANTS ON THE HISTORICAL FINANCIAL INFORMATION OF THE CARVE-
OUT GRAPHICS PAPER BUSINESS OF M-REAL OYJ
1. INTRODUCTION
Sappi Limited (“Sappi”) is issuing a Circular to Shareholders in order to obtain shareholder approval for the proposed acquisition of the Carve-out
Graphics Paper Business of M-real Oyj (“M-real”) (“the Carve-out Graphics Business”).
At your request, and for purposes of the Circular to Shareholders to be dated on or about 9 October 2008 (“the Circular”), we present our report on
the historical financial information of the Carve-out Graphics Paper Business, presented in Sections 1, 2 and 3 of Annexure 1 to the Circular, in
compliance with the Listings Requirements of the JSE Limited (“the JSE Listings Requirements”).
The compilation, contents and presentation of the Circular, including the Report on the Historical Financial Information of the Carve-out Graphics
Paper Business, are the responsibilities of the directors of Sappi.
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