Talvivaara Mining Company Plc: Adjustment to conversion price of convertible bonds due 2013 and 2015
February 16 2012 - 12:03PM
UK Regulatory
TIDMTALV
Stock Exchange Release
Talvivaara Mining Company Plc
16 February 2012
Adjustment to conversion price of convertible bonds due 2013 and 2015
Talvivaara Mining Company Plc ("Talvivaara") announces that, as a result of the
placing of 24,589,050 new ordinary shares announced earlier today, the
conversion price of Talvivaara's EUR 84.9 million convertible bonds due 2013 and
EUR 225 million convertible bonds due 2015 will be adjusted conditional upon the
completion of the placing.
The conversion price of the convertible bonds due 2013 will be adjusted from GBP
5.886 (EUR7.387) to GBP 5.7931 (EUR7.2703) resulting in an increase of the maximum
number of ordinary shares that may be issued upon conversion by 184,428 ordinary
shares. The Board of Directors will seek a related authorisation at the EGM
scheduled for 12 March 2012.
The conversion price of the convertible bonds due 2015 will be adjusted from GBP
7.0043 (EUR8.3435) to GBP 6.8937 (EUR8.2117) resulting in an increase of the maximum
number of ordinary shares that may be issued upon conversion by 432,807 ordinary
shares.
ENQUIRIES
Talvivaara Mining Company Plc Tel: +358 20 7129 800
Pekka Erkinheimo, Chief Commercial Officer
Saila Miettinen-Lähde, Chief Financial Officer
Talvivaara Mining Company Plc
Talvivaara Mining Company is an internationally significant base metals producer
with its primary focus on nickel and zinc using a technology known as
bioheapleaching to extract metals out of ore. Bioheapleaching makes extraction
of metals from low grade ore economically viable. The Talvivaara deposits
comprise one of the largest known sulphide nickel resources in Europe. The ore
body is estimated to support anticipated production for several decades.
Talvivaara has secured a 10-year off-take agreement for 100 per cent of its main
output of nickel and cobalt to Norilsk Nickel and entered into a long-term zinc
streaming agreement with Nyrstar NV. Talvivaara is listed on the London Stock
Exchange Main Market and NASDAQ OMX Helsinki and is included in the FTSE- 250
index. Further information can be found atwww.talvivaara.com.
Adjustment to conversion price of convertible bonds due 2013 and 2015:
http://hugin.info/136227/R/1586783/497551.pdf
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: Talvivaaran Kaivososakeyhtiö Oyj via Thomson Reuters ONE
[HUG#1586783]
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