Outokumpu - announcement regarding an agreement which, if completed, will result in change in holdings (chapter 2, section 10 of the Finnish Securities Market Act)
MAJOR SHAREHOLDERS ANNOUNCEMENTS
1 February 2012 at 00.35 am EET
Outokumpu Oyj (business identity code: 0215254-2, "Outokumpu") has today
received a notification based on Chapter 2, Section 9 of the Finnish Securities
Market Act from ThyssenKrupp AG ("ThyssenKrupp").
This notification by ThyssenKrupp contains the following information:
Outokumpu and ThyssenKrupp have on 31 January 2012 announced the combination of
Outokumpu with Inoxum, the stainless steel unit of ThyssenKrupp. The
consideration for Inoxum to be paid to ThyssenKrupp will comprise of a cash
payment, a loan note, the assumption by Outokumpu of certain liabilities in
Inoxum and new shares in Outokumpu to be issued to ThyssenKrupp at the closing
of the transaction. The closing of the transaction is subject to certain closing
conditions, including regulatory approvals, and is expected to take place by the
end of 2012.
The cash payment in connection with the transaction will be funded through a
rights issue of Outokumpu, which is expected to be completed during the first
half of the year 2012. The directed share issue of Outokumpu to ThyssenKrupp has
been agreed to take place as part of the consideration at closing of the
transaction, which is expected to take place by the end of 2012. Following and
subject to the completion of the rights issue, the directed share issue and the
closing of the transaction, ThyssenKrupp will hold 29.9 per cent of the shares
in Outokumpu (flagging threshold to be exceeded: 1/4). As of the date of
ThyssenKrupp's notification, the exact number of shares in Outokumpu to be held
by ThyssenKrupp post-closing of the transaction is not known.
The holding of shares and votes to be held by ThyssenKrupp as a result of the
completion of the rights issue and the directed issue of Outokumpu have been
calculated taking into account such new shares in accordance with Section 7.3.1
subsections (22) and (23) of Standard 5.2b of the Finnish Financial Supervisory
Authority.
ThyssenKrupp is registered in the commercial register of the Local Court in
Duisburg under HRB 9092 and in the commercial register of the Local Court of
Essen under HRB 15364.
The total registered amount of shares in Outokumpu is 183 018 749. Each share
carries one vote.
For more information, please contact:
Kari Tuutti, SVP - Communications and Investor relations
tel. +358 9 421 2432,kari.tuutti@outokumpu.com
OUTOKUMPU OYJ
Outokumpu is a global leader in stainless steel with the vision to be the
undisputed number one. Customers in a wide range of industries use our stainless
steel and services worldwide. Being fully recyclable, maintenance-free, as well
as very strong and durable material, stainless steel is one of the key building
blocks for sustainable future. Outokumpu employs some 8 000 people in more than
30 countries. The Group's head office is located in Espoo, Finland. Outokumpu is
listed on the NASDAQ OMX Helsinki.
www.outokumpu.com