Notification of the holding of Glazer Capital, LLC

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Tikkurila Oyj
Major Shareholder Announcement
1 March 2021 at 2.05 p.m. (EET)


Tikkurila Oyj (business ID 0197067-4) has on February 26, 2021, received a notification pursuant to the Finnish Securities Markets Act, Chapter 9, Section 6a, from Glazer Capital, LLC concerning cash settled financial instruments. According to the notification, the holding of the funds and accounts managed by Glazer Capital, LLC through financial instruments has increased above 5 percent and is now 5.29 percent as a consequence of the trades executed on February 25, 2021.

Glazer Capital’s indirect holding through financial instruments according to their notification:

Total positions of person(s) subject to the notification obligation:

% of shares and voting rights (A)

% of shares and voting rights
financial instruments (B)
Total of both in %
(A + B)
Total number of shares and
voting rights of issuer
Resulting situation on the date on which threshold was crossed or reached 0% 5.29% 5.29% 44,108,252
Position of previous notification - - -

Notified details of the resulting situation on the date on which the threshold was crossed or reached:


A: Shares and voting rights
Subtotal A: -


B: Financial Instruments according to SMA 9:6a

Type of financial instrument

Physical or
of shares
and voting
% of shares
and voting
Equity total return swaps February 11,
Not applicable Cash settled 1,529,041 3.47%
Equity total return swaps Earliest:
February 10,
February 8,
Not applicable Cash settled 805,029 1.83%
Subtotal B       2,334,070 5.29% 

Full chain of controlled undertakings through which the voting rights and/or the financial instruments
are effectively held starting with the ultimate controlling natural person or legal entity:



% of shares and voting rights through financial instruments (total)
Glazer Capital Management LP 0.01%
Glazer Enhanced Fund, LP 1.34%
Glazer Enhanced Off-shore Fund, Ltd 3.38%
A separate account managed by Glazer Capital, LLC 0.56%
Glazer Index Plus Fund, Ltd 0.00%

Tikkurila Oyj
Sanna Lehti
General Counsel 

For additional information, please contact:  

Sanna Lehti, General Counsel  

Sustainable Nordicness
Tikkurila is a leading Nordic paint company with expertise that spans decades. We develop premium products and services that provide our customers with quality that will stand the test of time and weather. We operate in seven countries and our 2,400 dedicated professionals share the joy of building a vivid future through surfaces that make a difference. In 2020, our revenue totaled EUR 582 million. The company is listed on Nasdaq Helsinki. Nordic quality from start to finish since 1862.