The shares are being tendered for cash at a price of $0.15 per share. The Board of Directors of APRIL has not made any recommendation as to the tender offer.
Holders who validly tender their shares prior to 12:00 midnight, New York City Time on June 22, 2004 will receive consideration of $0.15 per share. Tender applications received after the deadline will not be accepted. The offer is subject to the satisfaction of certain conditions, including there being validly tendered and not withdrawn sufficient shares to equal at least 95% of APRIL's outstanding shares, including the shares already owned by Gold Leaf. The complete terms and conditions of the offer are set forth in the Offer to Purchase and the related Letter of Transmittal that are being sent to holders of shares.
Further information and details regarding the tender offer, including terms and procedures of the tender offer, are set forth in the Offer to Purchase and the related Letter of Transmittal which are being sent to holders of shares. Copies of the Offer to Purchase and the related Letter of Transmittal can be obtained from the Information Agent. Gold Leaf has appointed Computershare Trust Company of New York as the Depositary Agent and Georgeson Shareholder Communications Inc. as the Information Agent. The Information Agent can be reached at (800) 262-1918, toll-free.
About Gold Leaf
Gold Leaf Holdings Limited is an exempted company with limited liability incorporated in the Cayman Islands. Through its subsidiaries, Gold Leaf currently indirectly owns 57.0% of APRIL's total outstanding shares.
APRIL, with offices in Singapore and operations in Indonesia and China, is one of the world's leading producers of pulp and fine paper. APRIL operates one of the world's largest pulp mills with an annual production capacity of 2,000,000 tonnes in Indoensia and has plans to expand in China. The company also intends to increase its paper and stationery capacity from 350,000 tonnes to more than 1,200,000 tonnes per annum.
Gold Leaf Holdings Limited