New shares of Talvivaara Mining Company Plc registered with the Finnish Trade Register
March 13 2012 - 8:57AM
UK Regulatory
TIDMTALV
Stock Exchange Release
Talvivaara Mining Company Plc
13 March 2012
New shares of Talvivaara Mining Company Plc registered with the Finnish Trade
Register
Adjustment to conversion price of convertible bonds due 2013 and 2015
An Extraordinary General Meeting of Talvivaara Mining Company Plc (the
"Company") resolved on 12 March 2012 to approve the proposal of the Board of
Directors on a share issue in deviation from the shareholders' pre-emptive
subscription rights (the "Placing"). A total of 24,589,050 new shares were
subscribed for in the Placing. The new shares have been registered with the
Finnish Trade Register on 13 March 2012. The new shares will establish
shareholder rights as from the registration date. Following the registration,
the total number of the Company's shares is 270,591,300 shares. Dealings in the
new shares on the main market of the London Stock Exchange and the official list
of the Helsinki Stock Exchange is expected to commence on 14 March 2012.
In addition, the Board of Directors has resolved, on the basis of the
authorisation granted by the Extraordinary General Meeting held on 12 March
2012, to issue special rights entitling to subscribe up to 184,428 new shares,
in order to carry out an adjustment to the conversion price, as a result of the
Placing, in accordance with the terms and conditions of the convertible bonds
due 2013. Accordingly the maximum number of ordinary shares that may be issued
upon conversion is 11,677,591 shares. Due to an adjustment to the conversion
price of the convertible bonds due 2015, as a result of the Placing, the maximum
number of ordinary shares that may be issued upon conversion is 27,180,636
shares. [No additional shareholder authorisation was required for the adjustment
of the conversion price of the 2015 convertible bonds, as it was carried out
under the authorisation granted by the Extraordinary General Meeting of January
2011.]
ENQUIRIES
Talvivaara Mining Company Plc +358 20 712 9800
Pekka Perä CEO
Saila Miettinen-Lähde, CFO
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.
New Talvivaara shares registered with Finnish Trade Register 13.3.12:
http://hugin.info/136227/R/1593592/501466.pdf
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Source: Talvivaaran Kaivososakeyhtiö Oyj via Thomson Reuters ONE
[HUG#1593592]
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