SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. ________)
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/ / Preliminary Proxy Statement
/ / Confidential, for Use of the Commission Only (as permitted by Rule
14a-6(e)(2))
/ / Definitive Proxy Statement
/X/ Definitive Additional Materials
/ / Soliciting Material Pursuant to Rule 14a-12
MERCER INTERNATIONAL INC.
(Name of Registrant as Specified in its Charter)
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FOR: MERCER INTERNATIONAL INC.
APPROVED BY: Jimmy S.H Lee
Chairman, Chief Executive Officer &
President
(41) 43 344-7070
FOR IMMEDIATE RELEASE
Financial Dynamics
Investors: Eric Boyriven
Media: Jeffrey Zack
(212) 850-5600
MERCER AND SIGNIFICANT SHAREHOLDERS MUTUALLY AGREE
ON TWO NOMINEES TO THE BOARD
NEW YORK, New York, August 6, 2003 - Mercer International Inc. ("Mercer" or
the "Company") (Nasdaq: MERCS, TSX: MRI.U, Nasdaq-Europe: MERC GR) today
announced that the Company and four significant shareholders have mutually
agreed upon a consensual slate of two nominees to be elected as trustees at the
Company's upcoming shareholders' meeting on August 22, 2003. As a result,
Greenlight Capital Inc. ("Greenlight") has withdrawn its proposed nominations
for trustees and terminated its proxy solicitation.
Mercer will nominate for election as a trustee Guy W. Adams, one of the
nominees originally proposed by Greenlight. Pursuant to the agreement, Mr.
Adams will now be compensated in his role and capacity as a trustee by the
Company and not by Greenlight. The other nominee will be proposed by three
other significant shareholders and serve as a lead trustee on the Company's
board.
Mercer's management, trustees and significant shareholders are expected to
support the election of the two nominees. Mercer will reimburse Greenlight for
certain reasonable third-party costs incurred in connection with its proxy
solicitation.
Jimmy S.H. Lee, the Chief Executive Officer and President of Mercer,
stated: "We are pleased to resolve this matter on a consensual basis that is
supported by our management, trustees and significant shareholders. This will
permit the Company to refocus on creating value for shareholders through our
strategy of becoming a leading global market pulp producer."
He added: "To this end, we will focus on the completion and start up of
our new Stendal pulp mill and revive our plan to refinance two bridge loans
which had initially been put on hold as a result of the resignation of our prior
CFO."
The Company will file supplemental proxy materials to nominate the two new
candidates for election as trustees at the upcoming shareholders' meeting. The
proxy materials will be mailed to shareholders of record as of July 23, 2003.
ABOUT MERCER INTERNATIONAL INC.
Mercer International Inc. is a European pulp and paper manufacturing
company.
The preceding includes forward looking statements which involve known and
unknown risks and uncertainties which may cause Mercer's actual results in
future periods to differ materially from forecasted results. For a list and
description of such risks and uncertainties, see Mercer's reports filed with the
Securities and Exchange Commission.
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