EFFECTS OF THE BANK STRIKE ON HKSCAN'S SHARE OFFERING
HKScan Corporation STOCK EXCHANGE RELEASE 11 December 2009 at 10am
NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN OR SOUTH AFRICA. EFFECTS OF THE BANK STRIKE ON HKSCAN'S SHARE OFFERING HKScan Corporation (the “Company”, “HKScan”) announced on 24 November 2009 that the Company's Board of Directors had decided on a share offering in which a maximum of 14,739,822 new A-shares (the “Offer Shares”) are issued such that the shareholders of HKScan have a pre-emptive right to subscribe for new A-shares in proportion to their current shareholding of A-shares and/or K-shares in the Company (the “Offering”). The subscription price in the Offering is EUR 5.30 per Offer Share. The subscription period began on 2 December 2009 and will end at 5:00 p.m. (Finnish time) on 17 December 2009. Trading in the subscription rights on NASDAQ OMX Helsinki Ltd. (the “Helsinki Stock Exchange”) has been possible between 2 December 2009 and 10 December 2009. The three-day bank strike between 14 and 16 December 2009 affecting the financing industry will take place during the subscription period of the Offering and thus it may affect the execution of the practicalities relating to the Offering. However, subscribers of the Offering will have to act in accordance with the previously informed instructions and timetable of the Offering. Due to the bank strike the settlement of the trades in the subscription rights may take longer than settlement normally such that the subscription rights may appear on the book-entry accounts of investors that have purchased the subscription rights only after the end of the subscription period on 17 December 2009. Despite this all share subscriptions must take place during the original subscription period i.e. the subscription assignments must be submitted and the subscription price be paid by 5:00 p.m. on 17 December 2009, at the latest. If the subscription rights do not yet at the time of submitting the subscription appear on the book-entry account of the subscriber that has purchased the subscription rights, the subscription assignments with respect to these subscriptions will be executed after the delayed trades in subscription rights have been settled. As a result of the bank strike the Company will, in deviation from what has been announced earlier, announce the final result of the Offering on or about 23 December 2009, the Offer Shares will be registered in the Trade Register and the interim shares will be combined with the Company's existing class A shares on or about 29 December 2009 and trading in the Offer Shares is expected to commence on the Helsinki Stock Exchange on or about 30 December 2009. HKScan Corporation Matti Perkonoja CEO Further information: Matti Perkonoja, CEO of HKScan Corporation. Please leave any messages for him to call with Marjukka Hujanen on +358 (0)10 570 6218. DISCLAIMER: This announcement does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. HKScan Corporation does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into the United States, Canada, Australia, Hong Kong, Japan or South Africa. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. This communication does not constitute an offer of securities to the public in the United Kingdom. This communication is directed only at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) and (iii) persons falling within Article 49(2) (a) to (d) (“high net worth companies, unincorporated associations etc.”) of the Order (all such persons together being referred to as “relevant persons”). Any investment activity to which this communication relates will only be available to and will be engaged only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. HKScan is one of the leading food companies in northern Europe with home markets in Finland, Sweden, the Baltics and Poland. HKScan manufactures, sells and markets pork and beef, poultry products, processed meats and convenience foods under several well-known local brand names. Its customers are retail, the HoReCa sector, industry and export customers. HKScan is active in nine countries and has some 10,000 employees. Annual net sales are 2.3 billion euro. DISTRIBUTION: Nasdaq OMX, Helsinki Main media www.hkscan.com