SAPPI LTD (SAP) 6-K

More documents

Recommendations

Info

ANNEXURE 5 MATERIAL LOANS RELATING TO LOANS MADE TO THE <strong><strong>SAP</strong>PI</strong> GROUP Sappi has no debentures and no loan capital. Currency Rate(9) Redeemable bonds Interest Balance Sheet Value as at 31 September, 2007 Security / Cession Expiry Financial Covenants Public bond (11) (17) USD Public bond (11) (18) USD Town of Skowhegan USD (12) Variable(7) USD32 million(6) Town of Skowhegan USD (12) Variable(7) USD29 million(6) Michigan Strategic Fund & City of Westbrook USD (12) Public bond (13) (19) Public bond (13) ( 19) ZAR ZAR Variable(7) USD486 million(2, 3, 6) Unsecured Jun-12 No financial covenants Variable(7) USD237 million(2, 3, 6) Unsecured Jun-32 No financial covenants Variable(7) USD46 million(6) Land and Buildings (partially) Land and Buildings (partially) Land and Buildings (partially) Oct-15 Nov-13 Jan-22 No financial covenants No financial covenants No financial covenants Fixed ZAR1,000 million Unsecured Jun-13 No financial covenants Fixed ZAR1,000 million Unsecured Oct-11 No financial covenants Securitisation Arrangements State Street Bank(10) (14) EUR Variable EUR157 million Trade receivables Revolving facility EBITDA to net interest and net debt to capitalisation(5) State Street Bank(10) (14) USD Variable USD74 million Trade receivables Revolving facility EBITDA to net interest and net debt to capitalisation(5) State Street Bank(10) (14) USD Variable USD71 million Trade receivables Revolving facility EBITDA to net interest and net debt to capitalisation(5) Capitalised leases Standard Bank (13) ZAR Fixed ZAR85 million(1) Plant and equipment Oct-08 No financial covenants Rand Merchant Bank (13) ZAR Fixed ZAR170 million(1) Buildings Sep-15 No financial covenants 151
Currency Rate(9) Unsecured bank term loans Interest Balance Sheet Value as at 31 September, 2007 Security / Cession Expiry Financial Covenants Österreichische Kontrollbank (16) EUR Österreichische Kontrollbank(15) EUR Fixed Fixed EUR35 million (1,2,8) EUR398 million (2,6,8) Revolving facility Dec-10 EBITDA to net interest and net debt to capitalisation(5) EBITDA to net interest and net debt to capitalisation(5) ABN AMRO (15) USD Fixed USD21 million May-09 No financial covenants Österreichische Kontrollbank (15) USD Fixed USD38 million (2,6,8) Jun-10 EBITDA to net interest and net debt to capitalisation(5) Syndicated loan agent is: BNP Paribas (16) EUR Variable EUR100 million (2,8) Jun-10 EBITDA to net interest and net debt to capitalisation(5) BNP Paribas (16) CHF Variable CHF165 million (2,8) Jun-10 EBITDA to net interest and net debt to capitalisation(5) Nedbank (16) ZAR Fixed ZAR348 million (1) Jan-11 No financial covenants Commerzbank (16) ZAR Fixed ZAR146 million (1) Mar-10 No financial covenants Calyon (16) ZAR Variable ZAR66 million (1,4) Oct-09 EBITDA to net interest and net debt to capitalisation(5) Raiffeisen Zentralbank Österreich AG Fixed EUR10 million Dec-09 No financial covenants (RZB) Bank(15) EUR Sanlam Bank (16) ZAR Fixed ZAR107 million Nov-12 No financial covenants Sanlam Bank (16) ZAR Fixed ZAR105 million Jan-13 No financial covenants Sanlam Bank (16) ZAR Fixed ZAR26 million Jan-13 No financial covenants (1) The value outstanding equals the total facility available. (2) In terms of the agreement, limitations exist on liens, sale and leaseback transactions and mergers and consolidation. Sappi Limited must maintain a majority holding in Sappi Paper Holding GmbH Group. (3) Sappi Papier Holding GmbH, Sappi Limited or Sappi International SA may at any time redeem the June 2012 and 2032 public bonds (the “Securities”) in whole or in part at a redemption price equal to the greater of (i) 100% of the principal amount of the Securities to be redeemed and (ii) a make-whole amount based upon the present values of remaining payments at a rate based upon yields of specified US treasury securities plus 25 basis points, with respect to the 2012 Securities, and 30 basis points, with respect to the 2032 Securities, together with, in each case, accrued interest on the principal amount of the securities to be redeemed to the date of redemption. 152
Page 1 and 2:
SAPPI LTD (SAP) 6-K Current report
Page 3 and 4:
INCORPORATION BY REFERENCE Sappi Li
Page 6 and 7:
CERTAIN FORWARD-LOOKING STATEMENTS
Page 8 and 9:
South African legal advisor to Sapp
Page 10 and 11:
TABLE OF CONTENTS Page CORPORATE IN
Page 12 and 13:
ACTION REQUIRED BY SAPPI SHAREHOLDE
Page 14 and 15:
IMPORTANT DATES/TIMES SALIENT DATES
Page 16 and 17:
“CSDP” “CWF” “Deloitte So
Page 18 and 19:
“Sappi Papier Holding” “Sappi
Page 20 and 21:
CURRENCY TRANSLATION This Circular
Page 22 and 23:
The tables below highlight certain
Page 24 and 25:
Reconciliation from profit for the
Page 26 and 27:
3. PRINCIPAL TERMS AND CONDITIONS O
Page 28 and 29:
• dispose of any of the Settlemen
Page 30 and 31:
There is no accrued taxation, which
Page 32 and 33:
(d) all of the know-how, brands, or
Page 34 and 35:
The map below sets out the location
Page 36 and 37:
Name Age Position Experience Martti
Page 38 and 39:
5. FINANCIAL INFORMATION ON THE ACQ
Page 40 and 41:
The registered address of Metsälii
Page 42 and 43:
Pro forma financial effects for the
Page 44 and 45:
G. Financial information for Sappi
Page 46 and 47:
13.3. Major Shareholders prior to t
Page 48 and 49:
Dr D.C Cronje was appointed in Janu
Page 50 and 51:
Executive Directors RJ Boëttger (3
Page 52 and 53:
14.2.2. Changes in executive direct
Page 54 and 55:
2007 2006 Direct Interests Indirect
Page 56 and 57:
Other than described above, there a
Page 58 and 59:
21. DIRECTORS’ RESPONSIBILITY STA
Page 60 and 61:
25. EXCHANGE CONTROL AUTHORITY Subj
Page 62 and 63:
• Audited Annual Financial Statem
Page 64 and 65:
HISTORIC FINANCIAL INFORMATION RELA
Page 66 and 67:
COMBINED STATEMENTS OF CASH FLOWS F
Page 68 and 69:
Note 1• Background and basis of p
Page 70 and 71:
The translation of foreign currency
Page 72 and 73:
Goodwill that arose prior to 1 Janu
Page 74 and 75:
Revenue recognition Revenue compris
Page 76 and 77:
Application of new and amended IFRS
Page 78 and 79:
Liquidity risk is defined as the ri
Page 80 and 81:
Other operating expenses include al
Page 82 and 83:
Note 7•Personnel data The Company
Page 84 and 85:
Note 9•Financial income and expen
Page 86 and 87:
The Company has offset deferred tax
Page 88 and 89:
Note 12•Property, plant and equip
Page 90 and 91:
Property, plant and equipment inclu
Page 92 and 93:
Note 16•Cash and cash equivalents
Page 94 and 95:
The Company expects to contribute E
Page 96 and 97:
Note 20•Maturity of repayment and
Page 98 and 99:
Maturity of repayment and interest
Page 100 and 101:
Note 22•Other non-current liabili
Page 102 and 103:
2. Interim Condensed Combined Finan
Page 104 and 105: INTERIM CONDENSED COMBINED CASH FLO
Page 106 and 107: NOTES TO THE INTERIM CONDENSED COMB
Page 108 and 109: A reconciliation of income tax expe
Page 110 and 111: Sales of goods to related parties d
Page 112 and 113: 3. Interim condensed combined finan
Page 114 and 115: INTERIM CONDENSED COMBINED CASH FLO
Page 116 and 117: NOTES TO THE INTERIM CONDENSED COMB
Page 118 and 119: Depreciation of buildings and machi
Page 120 and 121: As of 31 December 2007 and 2006, cu
Page 122 and 123: ANNEXURE 2 INDEPENDENT REPORTING AC
Page 124 and 125: Opinion In our opinion, the combine
Page 126 and 127: Yours sincerely PRICEWATERHOUSECOOP
Page 128 and 129: The pro forma adjustments reflect t
Page 130 and 131: • anticipated synergies and effic
Page 132 and 133: (A) (B) Financial information for t
Page 134 and 135: (2) Adjustments to the equity balan
Page 136 and 137: ASSETS EUR’000 US$’000 Acquired
Page 138 and 139: UNAUDITED PRO FORMA INCOME STATEMEN
Page 140 and 141: Pro forma notes (1) Reflects the el
Page 142 and 143: * The number of shares in issue at
Page 144 and 145: Notes to the unaudited pro forma co
Page 150 and 151: (2) (EUR54,970) has been reallocate
Page 152 and 153: We do not accept any responsibility
Page 156 and 157: (4) The financial covenant relates
Page 158 and 159: The fair value of non-current borro
Page 160 and 161: ADDITIONAL MATERIAL LOANS OF THE GR
Page 162 and 163: Directorships in the last five year
Page 164 and 165: David Charles Brink Age 69 Business
Page 166 and 167: Directorships in last five years Cu
Page 168 and 169: Directorships in last five years Fo
Page 170 and 171: Directorships in last five years Cu
Page 172 and 173: Experience Jan joined Sappi in 1992
Page 174 and 175: Experience Berry Wiersum joined Sap
Page 176 and 177: ANNEXURE 7 DETAILS ON THE SAPPI SHA
Page 178 and 179: SPECIAL RESOLUTION NUMBER 1 Increas
Page 180 and 181: Explanatory Note to Ordinary Resolu
Page 182 and 183: This Page Printed On Pink Paper Sap
Page 184 and 185: FORM OF DIRECTION FOR HOLDERS OF DE
Page 186 and 187: (Incorporated in the Republic of So
Page 188 and 189: TABLE OF CONTENTS Page REVISED LIST
Page 190 and 191: 2.2 Background Sappi Limited was fo
Page 192 and 193: Where shareholders are required to
Page 194 and 195: 6. INFORMATION RELATING TO THE DIRE
Page 196 and 197: 6.4 Additional information pertaini
Page 198 and 199: No commissions are payable or have
Page 200 and 201: 15. MATERIAL VENDORS There have not
Page 202 and 203: ANNEXURE A TRADING HISTORY OF SAPPI
Page 204 and 205:
ANNEXURE B PRINCIPAL IMMOVABLE PROP
Page 206 and 207:
ANNEXURE C APPOINTMENT, QUALIFICATI
Page 208 and 209:
If any question arises at any meeti
Page 210 and 211:
As at the termination of each annua
Page 212 and 213:
At every annual general meeting of
Page 214 and 215:
Human Resources committee The respo
Page 216 and 217:
Risk management The Sappi Board rec
Page 218 and 219:
Interest in contracts The Sappi Gro
Page 220 and 221:
ANNEXURE E CAPITAL COMMITMENTS AND
Page 222 and 223:
Westbrook Cogeneration Agreement: I
Page 224:
SIGNATURE Pursuant to the requireme
show all

SAPPI LTD (SAP) 6-K

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?