Solidium Oy : SOLIDIUM WILL BE THE LARGEST SHAREHOLDER IN TALVIVAARA
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
"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
"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
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.
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information contained therein.
Source: Solidium Oy via Thomson Reuters ONE
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