Outokumpu's holding in AvestaPolarit exceeds 90%

Outokumpu's holding in AvestaPolarit exceeds 90% Outokumpu Oyj's ownership in AvestaPolarit Oyj Abp has today at 12.00 noon exceeded nine-tenth (9/10) of AvestaPolarit's share capital and votes. Outokumpu currently owns 314 452 473 shares in AvestaPolarit corresponding to 90.12% of all the shares and votes. Outokumpu launched its redemption offer for all outstanding shares and warrants in AvestaPolarit on August 19, 2002. The acceptance period for the redemption offer started on August 26, 2002 and it continues up until September 26, 2002. Outokumpu may, if it so decides, extend the redemption offer period by a maximum of two months, so that the redemption offer period expires on November 26, 2002 at the latest. Outokumpu will separately announce the possible extension of the redemption offer period. Later on Outokumpu intends to initiate a redemption procedure under Chapter 14, Sections 19-21 of the Finnish Companies Act in order to acquire all the remaining shares in AvestaPolarit. Outokumpu's intention is that AvestaPolarit will apply for delisting of its share from the main list of the Helsinki Exchanges and the A-list of the Stockholm Exchange at the latest after Outokumpu has become the legal owner to all the issued and outstanding shares in AvestaPolarit. Contact: Eero Mustala, SVP - Corporate Communications tel. +358 9 421 2435, e-mail: eero.mustala@outokumpu.com OUTOKUMPU OYJ Corporate Management [REMOVED GRAPHICS] Johanna Sintonen Manager - Investor and Media Relations tel. +358 9 421 2438, mobile +358 40 530 0778, fax +358 9 421 2429 e-mail: johanna.sintonen@outokumpu.com www.outokumpu.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/08/30/20020830BIT00310/wkr0001.doc http://www.waymaker.net/bitonline/2002/08/30/20020830BIT00310/wkr0002.pdf

Subscribe