SAPPI LTD (SAP) 6-K

The registered address of Metsäliitto Group is 43 FI-02020 METSÄ, Finland. Metsäliitto Group is not a related party to Sappi in any way.
There are no guaranteed book debts in the Acquired Business.
There is no accrued taxation, which will be settled in terms of Transaction Agreements.
Other than as Shareholders of Sappi, no promoter or director has any beneficial interest in terms of the Transaction.
The Acquired Business will be transferred to Sappi and its subsidiaries and has not been ceded or pledged by M-real.
12. PRO FORMA FINANCIAL EFFECTS OF THE TRANSACTION
The unaudited pro forma financial effects set out below have been prepared to assist Shareholders to assess the impact of the Transaction and financing
thereof on the EPS, HEPS, NAV and TNAV per share of Sappi. These pro forma financial effects illustrate how the Transaction might affect the reported
financial information of Sappi if the Completion Date had occurred on 30 September 2007 and 30 June 2008 for balance sheet purposes and 1 October 2006
for income statement purposes.
A simple consolidation of the historical financial information in the form set out in the pro forma below does not purport to represent what the results of
operations or financial position of Sappi would have been if the Transaction had occurred on the dates indicated, nor does it purport to project the results of
operations or financial position of Sappi for any future period or as of any future date. The unaudited pro forma financial effects do not reflect:
• anticipated synergies and efficiencies associated with combining the companies due to the adoption of best practices;
• efficiencies in the permanent funding structure; and
• movements in the US Dollar / Euro exchange rate.
37