SOLIDIUM TO PARTICIPATE IN THE ?200 MILLION RIGHTS ISSUE OF KEMIRA
OYJ
(Thomson Reuters ONE) - Solidium to subscribe its pro rata entitlement and to participate inthe underwriting arrangementSolidium Oy has decided to participate in the ?200 million rightsissue announced today by Kemira Oyj. In conjunction with the issue,the four biggest shareholders of Kemira have committed to subscribefor new shares for approximately ?146 million.Solidium has committed to subscribe for Kemira's new shares for itspro rata entitlement, corresponding to approximately ?33 million.Furthermore, Solidium has given an underwriting commitment tosubscribe for a maximum of approximately ?16.5 million of Kemira'snew shares in the event that the shares offered in the rights issueare not fully subscribed for. Kemira will pay a fee for theunderwriting commitment corresponding with the market practise."Kemira's strategic decision to focus on water quantity and qualitymanagement provides good growth opportunities. We want to support thecompany's development into a leading player in chemical watertreatment. The rights issue will enable the company to carry out itsgrowth strategy and lower its gearing to correspond to that of itspeer group. The issue will also enable Tikkurila to be spun off andlisted in a flexible manner", says Kari Järvinen, Solidium's ManagingDirector.Kemira is focused on serving customers in water-intensive industries.The company offers water quality and quantity management thatimproves customers' energy, water, and raw material efficiency.Kemira's vision is to be a leading water chemistry company. Itsturnover in 2008 was some ?2.8 billion and its operating profit,excluding non-recurring items, amounted to ?133 million. On 30 June2009, Kemira group employed around 9,100 people in 40 countries.Solidium has a 16.52 % holding in the company prior to the rightsissue.Further information: Kari Järvinen, Managing Director, Solidium Oy,tel. +358 (0)10 830 89 05Solidium is a holding company wholly owned by the State of Finland,which cooperates with other investors. Solidium's holdings involvenational interests, but its investment decisions are based onfinancial considerations. An active participant in the Finnishcapital market, Solidium finances its activities with investmentincome and debt.On 26 October 2009, Solidium's portfolio containednine listed companies, in all of which Solidium had a minorityholding (Elisa Corporation, Kemira Oyj, Metso Corporation, OutokumpuOyj, Rautaruukki Corporation, Sampo plc, Stora Enso Oyj, Sponda Plcand TeliaSonera AB (publ)). The market value of Solidium's portfoliois some EUR 7.3 billion. Further information: www.solidium.fiThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 28.10.2009 - 12:00 Uhr
Sprache: Deutsch
News-ID 7543
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OYJ"
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