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Preliminary results of Metsä Board’s EUR 100 million share offering

Preliminary results of Metsä Board’s EUR 100 million share offering

Metsä Board Corporation’s EUR 100 million share offering was completed successfully on 23 March 2015. A preliminary assessment indicates that a total of 38,227,824 Series B-shares were subscribed for (the “Offered Shares”), representing approximately 139.8 percent of the 27,347,134 Series B-shares offered. Approximately 26,973,713 Series B shares were subscribed for through the exercise of primary subscription rights equaling approximately 98.6 percent of all the new shares offered. Demand for shares in the secondary subscription was approximately 11,254,111 shares equaling approximately 41.2 percent of all the new shares offered.

“We are very pleased about the results of the share offering. I would like to thank our shareholders for your trust and interest in the Company. This share offering is an important element in completing the Company’s transformation to a leading fresh forest fibre paperboard company,” says CEO Mika Joukio.

The subscription period for the Offering ended on 23 March 2015 and trading in interim shares (ISIN code: FI4000148457), representing the shares subscribed for pursuant to primary subscription rights, commenced on 24 March 2015. The interim shares will be combined with the Company’s ordinary Series B shares (ISIN code: FI0009000665) when the Offered Shares have been registered with the Finnish Trade Register, which is expected to occur on or about 31 March 2015. Trading of the Offered Shares as ordinary Series B shares on the official list of NASDAQ OMX Helsinki Ltd is expected to start on or about 1 April 2015. The Offered Shares will carry all ordinary shareholder rights in the Company, including the right to receive dividends and other distributions of funds, if any, as of the registration of the Offered Shares with the Finnish Trade Register. The record date for the 2014 dividend distribution is 27 March 2015 and the dividend is expected to be paid on or about 8 April 2015. Thus, the Offered Shares do not entitle to the dividend for the financial year 2014.

In accordance with the terms and conditions of the Offering, the Board of Directors of the Company will resolve to allocate such Series B shares that have not been subscribed for pursuant to the primary subscription rights among the subscribers having made a secondary subscription. The allocation among the subscribers having made the secondary subscription will be determined per book-entry account in proportion to the number of subscription rights exercised by them in accordance with the primary subscription right and, if this is not possible, by drawing of lots. Series B shares subscribed for pursuant to the secondary subscription rights are expected to be registered and start to trade on the official list of NASDAQ OMX Helsinki Ltd as ordinary Series B shares on 31 March 2015 and 1 April 2015.

Metsä Board expects to publish the final results of the Offering on 30 March 2015, following the approval of the subscriptions by the Board of Directors.

In the picture: Metsa CEO Mika Joukio.

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