Bergs Timber postpones the annual general meeting and withdraws the proposed dividend

The Board of Directors of Bergs Timber AB has today, as a result of the spread of the corona virus, taken the decision to postpone the annual general meeting to a later date. Bergs Timber will publish an invitation to the annual general meeting no later than four weeks prior to the new date. The annual general meeting will be held, at the latest, on June 30 2020 in accordance with existing legislation.

The Board of Directors has decided to withdraw the proposed dividend of SEK 0.04 per share, in total approximately SEK 14 million. The board´s decision has been taken in light of the prevailing conditions around the world with the insecurities about the possible future economic effects related to the outbreak of the corona virus. The Board of Directors prioritizes to maintain Bergs Timbers’s financial position and manoeuvrability.

Update on corona related effects

The deliveries during the beginning of 2020 have been good for the season and some price increases have been made due to a better balance in the market. The effects of the corona crises are currently difficult to estimate. However, certain markets and products, in particular further processed products, have already been negatively affected. The situation is changing rapidly and changes in the production and market approach are bound to take place.

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Further information about this press release can be provided by Bergs Timber’s CEO and group president Peter Nilsson,+46 703 15 09 27 or CFO Anders Marklund, +46 702 84 47 96.

The information is such that Bergs Timber AB (publ) is required to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 30 March 2020 at 14.05 (CEST).

Bergs Timber AB (publ), 556052-2798, Stora Torget 3, SE-598 37 Vimmerby, telephone +46 10 19 98 500. More information about our operations can be found on our web page under the address www.bergstimber.com

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About Us

Bergs Timber can be found on both sides of the Baltic Sea with sawmills and processing in an overall production totalling around 1 million cubic meters of sawn timber products. In Latvia we manufacture gardening products, windows, doors and prefabricate houses, while in Sweden we have a facility for rot-proofing wood. We also have an operation in the UK. We are entrepreneurs in an organisation with decentralised responsibility. The entire business is characterized by security and reliability. We always aim to be perceived as the most attractive alternative for our customers through modern, made-to-order production and a unique product. We make investments in our facilities and fine tune them daily to meet your requirements. Forest owners can feel safe with us as their collaborative partner in the forestry industry. We also make the best possible use of your timber in our facilities. Wood binds carbon dioxide and the wood products industry helps people make sustainable, climate-friendly choices. People who invest in Bergs Timber are making a sustainable investment.

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