Outokumpu – Announcement regarding change in holdings
Outokumpu Oyj
Stock exchange release
December 31, 2019 at 2.00 pm EET
Outokumpu – Announcement regarding change in holdings
Outokumpu Oyj (business identity code: 0215254-2) has on December 31, 2019 received a notification based on Chapter 9, Section 5 of the Finnish Securities Market Act. Varma Mutual Pension Insurance Company’s total holding in the shares and voting rights of Outokumpu has risen above 5% threshold and was 5.13% on December 16, 2019. Their earlier holding in the Outokumpu shares and voting rights was below minimum threshold.
| Total direct and indirect holdings of Varma Mutual Pension Insurance Company according to the notification: | |||||
| % of shares and voting rights (total of A) | % of shares and voting rights through financial instruments (total of B) | Total of both in % (A + B) | Total number of shares and voting rights of issuer | ||
| Resulting situation on the date on which threshold was crossed or reached | 2.97% | 2.16% | 5.13% | 21,350,112 | |
| Position of previous notification (if applicable) | - | - | - | ||
| Notified details of the resulting situation on the date on which the threshold was crossed or reached: | ||||||||||
| A: Shares and voting rights | ||||||||||
| Class/type of shares | Number of shares and voting rights | % of shares and voting rights | ||||||||
| Direct (SMA 9:5) |
Indirect (SMA 9:6 and 9:7) |
Direct (SMA 9:5) |
Indirect (SMA 9:6 and 9:7) |
|||||||
| FI0009002422 | 12,350,112 | - | 2.97% | - | ||||||
| SUBTOTAL A | 12,350,112 | 2.97% | ||||||||
| B: Financial Instruments according to SMA 9:6a | ||||||||||
| Type of financial instrument | Expiration date | Exercise/Conversion Period | Physical or cash settlement | Number of shares and voting rights | % of shares and voting rights | |||||
| Call option (call, strike 3.4) | 20 March 2020 | 11 October 2019 | Physical | 2,000,000 | 0.48% | |||||
| Put option (put, strike 2.2) | 20 March 2020 | 11 October 2019 | Physical | 2,000,000 | 0.48% | |||||
| Put option (put, strike 2.8) | 18 June 2020 | 16 December 2019 | Physical | 5,000,000 | 1.20% | |||||
| SUBTOTAL B | 9,000,000 | 2.16% | ||||||||
Additional information
Varma will not exercise both options expiring on 20 March 2020, as the options are mutually exclusive due to their exercise price. If call option (call, strike 3.4) is exercised, put option (put, strike 2.2) shall lapse. If put option (put, strike 2.2) is exercised, Varma will not exercise call option (call, strike 3.4).
Outokumpu has a total of 416,374,448 shares. Each share carries one vote. Outokumpu currently holds 4,599,733 treasury shares.
For more information:
Reeta Kaukiainen, EVP – Communications and IR, tel. +358 50 522 0924
Outokumpu Oyj
Outokumpu is the global leader in stainless steel. We aim to be the best value creator in stainless steel by 2020, through our competitive edge of customer orientation and efficiency. The foundation of our business is our ability to tailor stainless steel into any form and for almost any purpose. Stainless steel is sustainable, durable and designed to last forever. Our customers use it to create civilization’s basic structures and its most famous landmarks as well as products for households and various industries. Outokumpu employs 10,000 professionals in more than 30 countries, with headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki. www.outokumpu.com