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SOLIDIUM WILL BE THE LARGEST SHAREHOLDER IN TALVIVAARA

15.4.2013

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 subscription.

”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 environments.

”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 8901

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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