SOLIDIUM WILL BE THE LARGEST SHAREHOLDER IN TALVIVAARA
(Thomson Reuters ONE) -
Solidium Oy will be the largest shareholder in Talvivaara Mining Company Plc
with an ownership of approximately 16.7 per cent following the completion of the
rights issue announced today by Talvivaara. Prior to the rights issue,
Solidium's holding was 8.9 per cent of the share capital of Talvivaara. Solidium
exercised fully its pro rata entitlement by subscribing for new shares with ?23
million and, furthermore, Solidium subscribed for approximately ?24 million of
Talvivaara's new shares in the secondary subscription.
"We are pleased that Talvivaara's rights issue was completed successfully.
Following the rights issue Talvivaara will be able to complete critical
investments in environmental technology and rump-up its production. We are
satisfied that other Talvivaara shareholders, especially retail investors,
participated actively in the rights issue," comments Kari Järvinen, the Managing
Director of Solidium.
Solidium's investment strategy is to make long-term investments in listed
companies with national significance. Solidium is a minority shareholder and it
aims to increase the value of its portfolio companies by engagement with other
significant shareholders. From Solidium's point of view it is important that its
portfolio companies's operations are sustainable pertaining to economic,
environmental and social issues in their respective operative environments.
"Solidium is a long-term owner and we require sustainable and profitable
operations from our portfolio companies. Good management of corporate
responsibility term is one the key prerequisites for the creation of long term
financial value. Talvivaara has faced significant problems in its operation, but
we continue to support the company while it aims to solve its problems and we
continue to believe in the company and positive development of the mining sector
in Finland as a whole in the future," continues Kari Järvinen.
Further information: Managing Director Kari Järvinen, Solidium Oy, tel. +358
(0)10 830 89 05
General Counsel Tapani Varjas, Solidium Oy, tel. +358 (0)10 830 8912
Requests for interviews: Natalie Nevaste, Solidium Oy, tel. +358 (0)10 830 8901
Solidium is a limited company wholly owned by the State of Finland. Its mission
is to strengthen and stabilise Finnish ownership in nationally important
companies and increase the value of its holdings in the long run. Investment
activities are based on financial analysis. The core of Solidium's investment
strategy is proper, value enhancing asset management of the current holdings.
Through its stakes, Solidium is a minority owner in eleven listed companies:
Elisa, Kemira, Metso, Outokumpu, Outotec, Rautaruukki, Sampo, Stora Enso,
Talvivaara Mining Company, TeliaSonera and Tieto. The market value of Solidium's
investments is approximately EUR 7.6 billion at the date of this press release.
Further information: www.solidium.fi.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Solidium Oy via Thomson Reuters ONE
[HUG#1693040]
Unternehmensinformation / Kurzprofil:
Datum: 15.04.2013 - 14:34 Uhr
Sprache: Deutsch
News-ID 249062
Anzahl Zeichen: 3736
contact information:
Town:
Helsinki
Kategorie:
Business News
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"SOLIDIUM WILL BE THE LARGEST SHAREHOLDER IN TALVIVAARA"
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