Share subscriptions under Outokumpu's convertible bond and increase in share capital
Bonds relating to the convertible bond loan of EUR 18 180 000 issued for the Group's personnel in 1999 were converted into 7 243 shares in the Company between September 15, 2003 and October 5, 2003.
The corresponding increase in share capital has been entered into the Trade Register today. The registered share capital of the Company is therefore EUR 293 610 998,40 and the number of the shares issued 172 712 353.
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 10, 2003. The new shares entitle holders to dividend for the financial period in which the conversion has occurred. Other shareholder's 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 shareholder's 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 company's 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 6 180 000 is converted into shares, additional 746 111 new shares will be issued and the Company's share capital will increase by EUR 1 268 388.70.
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