OUTOKUMPU CONSIDERING PARTIAL SALE OF ITS SHAREHOLDING IN BOLIDEN
OUTOKUMPU OYJ STOCK EXCHANGE RELEASE November 12, 2004 at 9.45 am
OUTOKUMPU CONSIDERING PARTIAL SALE OF ITS SHAREHOLDING IN BOLIDEN Boliden AB (publ), of which Outokumpu owns 49%, has decided to summon an Extraordinary General Meeting to seek shareholder approval for a directed issue to international investors. Outokumpu recognizes the benefits that should accrue to Boliden and its shareholders as a result of the proposed directed issue. Accordingly, Outokumpu intends to vote in favor of the proposal at the EGM. Since the formation of new Boliden at the end of 2003, Outokumpu has communicated its intention to reduce its 49% interest in Boliden over time. Accordingly, Outokumpu is considering the concurrent sale of a portion of its shareholding. The amount to be sold will be decided on a later date, depending on market conditions. However, even after the sale Outokumpu expects to remain a major shareholder in Boliden. If Boliden elects to proceed with the directed issue, it is envisaged that any concurrent sale by Outokumpu would be made by way of a public offering in Sweden (it is intended that existing Boliden shareholders will be given priority in the allocation process) and a private placement to international institutional investors. Any sale by Outokumpu would be conducted in co-ordination with the directed issue, with the sale price being established through a book-building process. For further information: Esa Lager, EVP - Finance and administration, tel. +358 9 421 2516, esa.lager@outokumpu.com Eero Mustala, SVP - Corporate Communications, tel.+358 9 421 2435, mobile +358 40 504 5146, eero.mustala@outokumpu.com OUTOKUMPU OYJ Corporate Management Eero Mustala SVP - Corporate Communications Not for release, publication or distribution in Australia, Canada, France, the Hong Kong Special Administrative Region of the Peoples Republic of China, Japan, South Africa, Spain or the United States of America. The information contained herein is not for publication or distribution in or into the United States. This document does not constitute an offer of securities for sale in the United States or to or for the account or benefit of U.S. persons, nor may the securities be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. There is no intention to register any portion of the offering in the United States or to conduct a public offering of securities in the United States. 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 of registration or qualification under the securities laws of any such jurisdiction.