The arbitral tribunal has confirmed the redemption price of the shares in Rautaruukki Oyj
December 22, 2014 10:30 CET 6 min read
SSAB AB (publ) (“SSAB”) obtained ownership to all the shares in Rautaruukki Oyj (“Rautaruukki”) when it posted the security approved by the arbitral tribunal for the payment of the redemption price and the interest accruing thereon on November 20, 2014. The arbitral tribunal appointed by the Redemption Board of the Finland Chamber of Commerce has today in its arbitral award confirmed that the redemption price of the shares in Rautaruukki is EUR: 11.24 per share, which corresponds to the redemption price offered by SSAB.
The total number of Rautaruukki’s shares to be redeemed is 5,475,157 shares, that is, approximately 4 percent of all the shares in Rautaruukki. SSAB will pay the redemption price and the interest accrued thereon to the former minority shareholders of Rautaruukki, who are parties to the redemption process, within one month after the arbitral award has become legally binding, which is estimated to take place in the second half of February 2015 or in the first half of March 2015. The arbitral award becomes legally binding after 60 days of its registration with the Finnish Trade Register, assuming that no appeal is filed against it. Any appeal would be shareholder-specific and would not impact the time when the arbitral award becomes legally binding in respect of the non-appealing shareholders.
This information is published by SSAB pursuant to the requirements of the Finnish Securities Market Act and the Swedish Securities Market Act. Submitted for publication at 10.30am CET, December 22, 2014.