SHARE SUBSCRIPTIONS UNDER OUTOKUMPU?S CO
OUTOKUMPU OYJ STOCK EXCHANGE ANNOUNCEMENT March 18, 2004 at 11.45 am
SHARE SUBSCRIPTIONS UNDER OUTOKUMPUS CONVERTIBLE BOND AND THE 1998 OUTOKUMPU OPTION WARRANTS, AND SUBSEQUENT INCREASE IN SHARE CAPITAL Bonds relating to the convertible bond loan of EUR 18 180 000 issued for the Groups personnel in 1999 have been converted into 178 762 shares in the Company between February 16 and March 14, 2004. Furthermore, between February 17 and March 16, 2004, altogether 494 994 Outokumpu Oyj shares have been subscribed for under the option warrants issued in 1998. The corresponding increase in share capital has been entered into the Trade Register today. The registered share capital of the Company is therefore EUR 305 001 120.80 and the number of the shares issued 179 412 424. An application has been submitted for listing the shares now subscribed on the main list of the Helsinki Exchanges as March 19, 2004. The new shares will be listed as a separate class from the old shares and trade under the code OUT1VN0104 because the shares dont entitle holders to dividends for the financial year 2003. Other shareholders rights apply as soon as the increase in share capital has been entered into the Trade Register and the share ownership has been entered in the shareholders register of the Company held by The Finnish Central Securities Depository. Following the payment of dividends from the financial year 2003 in April 2004, the separate class will be combined with the old shares. The convertible bond loan was issued on April 7, 1999. The loan period is five years and the annual interest rate is 3.75%. According to the conversion ratio one convertible bond of EUR 1 000 can be converted to 120.73 shares in Outokumpu Oyj. The holders of the convertible bond will receive a cash compensation for the fraction of the share based on the average trading price of the companys share on the Helsinki Exchanges the last trading day preceding the conversion. The conversion price per Outokumpu Oyj share is EUR 8.28. The last conversion period for the bonds commenced on January 2, 2004 and will last until April 5, 2004. If the entire outstanding loan, following the effected prepayments, of EUR 1 943 000 is converted into shares, additional 234 578 new shares will be issued and the Companys share capital will increase by EUR 398 782.60. The option warrants were issued in March 1998. The option warrants are exercisable from May 2, 2001 through March 31, 2004. Each option warrant entitles holders thereof to subscribe for 1 097.56 shares of Outokumpu Oyj at a price of EUR 8.56 per share. The option warrants have been traded in the Helsinki Exchanges since June 21, 2001. If the outstanding option warrants are exercised, additional 1 647 437.56 new shares will be issued and Outokumpus share capital will increase by EUR 2 800 643.85. OUTOKUMPU OYJ Corporate Management Johanna Sintonen Vice President Investor Relations tel. + 358 9 421 2438, mobile +358 40 530 0778, fax + 358 9 421 2125 e-mail: johanna.sintonen@outokumpu.com, www.outokumpu.com