Stock exchange release
December 18, 2013 12:45 PM EEST
Valmet Corporation's listing application approved
Metso Corporation's stock exchange release on December 18, 2013 at 11.45 a.m.
Metso Corporation ("Metso") submitted on December 11, 2013 an application to
NASDAQ OMX Helsinki Ltd (the "Helsinki Stock Exchange") on the listing of the
shares in Valmet Corporation ("Valmet") on the official list of the Helsinki
Stock Exchange on behalf of Valmet. Helsinki Stock Exchange has on December
18, 2013 approved the listing application of Valmet's shares. Assuming that the
completion of the demerger is registrated in the Finnish Trade Register on
December 31, 2013, trading in Valmet's shares on the official list of the
Helsinki Stock Exchange commences on January 2, 2014. The number of shares in
Valmet is expected to be 149,864,619.
On October 1, 2013, the Extraordinary General Meeting of Metso decided that
Metso will demerge through a partial demerger in such a manner that all of the
assets, debts and liabilities relating to Metso's Pulp, Paper and Power
businesses will transfer, without liquidation, from Metso to Valmet. Metso's
other businesses, including, among others, the Mining and Construction as well
as the Automation businesses, will remain with Metso. Metso's shareholders will
receive as demerger consideration one (1) share in Valmet for each share in
Metso owned. No demerger consideration will be issued in respect of own shares
held by Metso. The shares in Valmet will be entered in the book-entry accounts
of the shareholders on or about December 31, 2013.
Monday December 30, 2013 is the last trading day on which the right to the
demerger consideration is included in Metso's share and its price. From Thursday
January 2, 2014 onwards Valmet's share is traded as a separate share class. In a
situation where a shareholder of Metso has sold his/her shares, but the
transaction has not been cleared prior to the expected effective date of the
demerger (December 31, 2013), the right to the demerger consideration is
transferred to the purchaser of the Metso share in accordance with the general
market practice, and the demerger consideration will be transferred on the book-
entry account of the purchaser together with the purchased Metso shares after
the transaction has been cleared. The normal settlement period for stock
exchange trades is three banking days.
The Finnish demerger prospectus approved by the Finnish Financial Supervisory
Authority, together with an unofficial English translation thereof, has been
available as of September 23, 2013 on Metso's website www.metso.com/demerger.
The future Valmet Corporation is a leading global developer and supplier of
services and technologies for the pulp, paper and energy industries. Our 11,000
professionals around the world work close to our customers and are committed to
moving our customers' performance forward - every day.
Valmet's services cover everything from maintenance outsourcing to mill and
plant improvements and spare parts. Our strong technology offering includes
entire pulp mills, tissue, board and paper production lines, as well as power
plants for bio-energy production.
The company has over 200 years of industrial history and will be reborn through
the demerger of the pulp, paper and power businesses from Metso Group on 31
December 2013. Valmet's net sales in 2012 were approximately EUR 3 billion.
Valmet's objective is to become the global champion in serving its customers.
Metso is a global supplier of technology and services to customers in the
process industries, including mining, construction, pulp and paper, power, and
oil and gas. Our 30,000 professionals based in over 50 countries contribute to
sustainability and deliver profitability to customers worldwide. Metso's shares
are listed on the NASDAQ OMX Helsinki Ltd.
Further information, please contact:
Rasmus Oksala, VP, Legal, future Valmet Corporation, tel. +358 20 484 3252
Hanna-Maria Heikkinen, VP, Investor Relations, future Valmet Corporation, tel.
+358 40 826 2172
VP, Investor Relations
NASDAQ OMX Helsinki Ltd