HONG KONG, Jan. 14 /CNW/ -- Mass Financial Corp. ("Mass") announces today
it is the founding member of a shareholders committee ("Committee") to create
change and increase shareholder value at Mercer International Inc. ("Mercer")
(Nasdaq: MERC, TSX: MUI.U)
The mandate of the Committee will be to unlock the value of the Mercer's
common shares by requesting drastic corporate changes within Mercer, and to
either have the company sold or create a joint venture with a strategic
investor to realize the highest value for the shareholders.
Michael Smith, President of Mass, commented, "We have already received
very encouraging comments from other concerned Mercer shareholders, as well as
numerous inquiries from all over the world; and some of these shareholders
have now joined the Committee."
This type of action would not be necessary if Mercer was transparent and
responsive to its shareholders, true corporate governance has to be in
question. We have officially asked several of the Mercer directors and its
Vice-Chairman to make some fundamental changes in the company. The response we
received was a letter written by Mr. H. Sangra, Mercer's top lawyer, but
signed as if it was the Vice Chairman' words. Why cannot they be just
Mass may increase its share ownership in Mercer in conjunction with
others, or directly by open market purchases. It will fund the Committee in
order to pay their professional consultants and advisors.
Mercer is the largest publicly traded NBSK pulp manufacturing company in
the world. To obtain further information on Mercer, please visit its website
at http://www.mercerint.com and review the company's 8-K filing dated December
Mass and its affiliated companies are engaged in global investments,
merchant banking, trading activities and medical supply and service.
Contact information: Suite 803, 8/Fl, Dina House
11 Duddell Street
Central, Hong Kong
Tel: (852) 2840-1230
Fax: (852) 2840-1260
For further information:
For further information: Mass Financial Corp., 852-2840-1230, fax,