SHARE SUBSCRIPTIONS UNDER OUTOKUMPU'S CO
OUTOKUMPU OYJ STOCK EXCHANGE ANNOUNCEMENT October 30, 2003 at 11.30 am
SHARE SUBSCRIPTIONS UNDER OUTOKUMPU'S 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 19 675 shares in the Company between October 6 and October 26, 2003. Furthermore, between September 16 and October 24, 2003 altogether 200 852 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 294 040 003.60 and the number of the shares issued 172 964 708. An application has been submitted for listing the shares now subscribed together with the old shares on the main list of the Helsinki Exchanges as of October 31, 2003. The new shares entitle holders to dividend for the financial period in which the conversion or subscription has occurred. 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. 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 annual conversion periods for the bonds are as follows: - From April 8, 2003 to November 28, 2003 and - From January 2, 2004 to April 5, 2004. If the entire outstanding loan, following the effected prepayments, of EUR 6 017 000 is converted into shares, additional 726 432 new shares will be issued and the Companys share capital will increase by EUR 1 234 934.40. 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 2 603 412.32 new shares will be issued and Outokumpus share capital will increase by EUR 4 425 800.94. OUTOKUMPU OYJ Corporate Management Johanna Sintonen Manager - Investor and Media Relations tel. + 358 9 421 2438, mobile +358 40 530 0778, fax + 358 9 421 2429 e-mail: johanna.sintonen@outokumpu.com www.outokumpu.com