Finnish State Transfers Balance of Shareholding in Rautaruukki to Solidium Oy
12/15/2008 - The Finnish State transfers all its shares in Rautaruukki to Solidium Oy, so that it no longer has any shareholding in Rautaruukki Corp.
The Finnish State and Solidium Oy (Business ID number 0866693-1) gave notice of a recent transfer that will result in the Finnish State's shareholding in Rautaruukki Corp. falling below the threshold provided for by Chapter 2, Section 9 of the Finnish Securities Markets Act, and Solidium Oy's ownership exceeding that threshold.
The Finnish State transferred (as a capital contribution under the Limited Liability Companies Act) all the Rautaruukki Corp. shares it owns to Solidium Oy, which is owned entirely by the Finnish State. As a result of the December 11 transfer, the Finnish State no longer has any shareholding in Rautaruukki Corp.
The Finnish Financial Supervision Authority (FIN-FSA) had granted an exemption to Solidium Oy on October 17, 2008, under Chapter 6, Section 15 of the Finnish Securities Markets Act. The exemption entered into legal force on December 3, 2008.
As a result of the share transfer, Solidium Oy now owns 55,656,699 Rautaruukki Corp. shares, which represents 36.69% of Rautaruukki's share capital and votes. The Finnish State's shareholding in Rautaruukki Corp. has decreased to 0% of Rautaruukki Corp.'s shares and votes.
