Talvivaara and Terrafame have agreed on an extension of the deadline set for the detailed terms of the sale of Talvivaara's assets
(Thomson Reuters ONE) -
Stock Exchange Release
Talvivaara Mining Company Plc
3 February 2016
Talvivaara and Terrafame have agreed on an extension of the deadline set for the
detailed terms of the sale of Talvivaara's assets
As announced by Talvivaara Mining Company Plc ("Talvivaara") on 28 January
2016, Talvivaara, Terrafame Group Ltd, Terrafame Ltd and Winttal Ltd, a
subsidiary of Terrafame Group Ltd, have signed a letter of intent, in which the
parties provisionally agree on the essential terms and conditions for the sale
of Talvivaara's assets related to the Sotkamo mining operations. According to
the letter of intent the arrangement was conditional upon the detailed
agreements concerning the arrangement being finalized and accepted by all
parties no later than 3 February 2016, or on another date agreed by the parties,
at which instant the first phase of the arrangements would be completed.
As previously announced the arrangement is, among others, conditional on a
favorable decision by the Vaasa Administrative Court on Nuasjärvi discharge pipe
line, enabling the continuance of Terrafame's mining operations. Since the
decision of the Vaasa Administrative Court has not been received by 3 February
2016, the parties have agreed to extend the deadline set for the finalization
and approval of the detailed agreements until the decision of the Administrative
Court has been received.
Enquiries
Talvivaara Mining Company Plc. Tel. 020 7129 800
Pekka Perä, CEO
Pekka Erkinheimo, Deputy CEO
Talvivaara and Terrafame have extented the deadlines of the agreements:
http://hugin.info/136227/R/1983557/726964.pdf
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Source: Talvivaaran Kaivososakeyhtiö Oyj via GlobeNewswire
[HUG#1983557]
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Datum: 03.02.2016 - 18:46 Uhr
Sprache: Deutsch
News-ID 448473
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