OUTOKUMPU RAISES EUR 103 MILLION IN SALE OF BOLIDEN SHARES
OUTOKUMPU OYJ STOCK EXCHANGE RELEASE December 16, 2004 at 8.00 am
OUTOKUMPU RAISES EUR 103 MILLION IN SALE OF BOLIDEN SHARES On November 30, Outokumpu Oyj announced its intention to launch an offering (the "Outokumpu Offering") of up to 37 000 000 shares in Boliden AB (publ), in coordination with a directed issue by Boliden of new shares to institutional investors (the "Boliden Offering", and, together with the Outokumpu Offering, the "Combined Offering"). The Outokumpu Offering included 10 000 000 shares in the form of an over-allotment option granted to the managers of the Combined Offering (the "Over-allotment Option"). In addition, Outokumpu reserved the right to increase the size of the Outokumpu Offering by additional 10 000 000 shares. The Combined Offering has now been priced at SEK 25 per share and Outokumpu has decided to exercise its right to increase the size of the Outokumpu Offering to 47 000 000 shares, including the 10 000 000 shares in the Over-allotment Option. Out of the total amount of the shares sold, approximately 7.6 million shares, covering 100 % of subscriptions, were allocated to the public offering in Sweden. The 47 000 000 shares comprising the Outokumpu Offering represent approximately 16.2% of Bolidens enlarged share capital after giving effect to the Boliden Offering (3.5% of which comprises the Over- allotment Option). Following the Combined Offering, Outokumpus shareholding in Boliden will fall to approximately 29.9% (or 26.5% if the over-allotment option is exercised in full). Outokumpus proceeds from the sale of the Boliden shares amount to EUR 103 million (or EUR 130 million, if the over-allotment option is exercised in full). The sale of the shares will have a slightly negative effect on Outokumpus results. Furthermore, Outokumpu has been advised that following the successful completion of the Boliden Offering, Boliden will pay down its EUR 100 million debenture loan to Outokumpu. For further information, please contact: Esa Lager, Executive Vice President - Finance and Administration, tel. +358 9 421 2516, esa.lager@outokumpu.com Eero Mustala, Senior Vice President - Corporate Communications, tel. +358 9 421 2435, mobile +358 40 504 5146, eero.mustala@outokumpu.com OUTOKUMPU OYJ Corporate Management Eero Mustala 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, 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. Stabilisation/FSA