Outokumpu Corporation
Stock Exchange Release
June 27, 2025 at 9.00 am EEST
Share subscription based on the conversion of the convertible bond and
simultaneous cancellation of treasury shares
In 2020, Outokumpu issued an EUR 125 million senior unsecured convertible bond
maturing on July 9, 2025. Outokumpu has received conversion notices pursuant to
which bonds amounting to EUR 93,600,000 are converted to a total of 35,262,196
Outokumpu's shares (the “conversion shares”).
The company has today resolved to issue new shares as conversion shares. In
addition, the company has today resolved to cancel 19,119,812 of its own shares,
which means that the number of cancelled shares pursuant to the conversions has
reached 30,836,205 shares, corresponding to the number of shares Outokumpu has
repurchased during its share buyback programs in 2022-2023 and 2023-2024.
The current share subscriptions and cancellations are the final share
transactions under the convertible bond. The remaining part of the bond that has
not been converted is EUR 100,000 and will be paid on the final maturity date
July 9, 2025.
In total, including the conversion shares and cancellations mentioned in this
release, Outokumpu has converted the convertible bond into 47,046,505 shares,
and cancelled the total of 30,836,205 own shares in connection with the
conversions.
After the delivery of new shares and cancellation of own shares, the total
number of Outokumpu's shares is 473,016,832, of which Outokumpu holds a total of
1,808,411 own shares.
The conversion shares and the cancellation of treasury shares are expected to be
registered in the Trade Register on or about July 3, 2025. The conversion shares
will carry shareholder rights upon registration. Trading in the conversion
shares on Nasdaq Helsinki Ltd is expected to commence on or about July 4, 2025.
For further information:
Investors: Ulla Paajanen, SVP, IR and Strategic Advisory, tel. +359 40 763 8767
Media desk, tel. +358 40 351 9840, e-mail media(at)outokumpu.com
Outokumpu is accelerating the green transition as the global leader in
sustainable stainless steel. Our business is based on the circular economy: our
products are made from 95% recycled materials, which we then turn into fully
recyclable stainless steel. This steel is utilized in various applications
across society, including infrastructure, mobility, and household appliances. We
are committed to 1.5°C target to mitigate climate change, and with up to 75%
lower carbon footprint than the industry average, we support our customers to
reduce their emissions. Together, we are working towards a world that lasts
forever. Outokumpu Corporation employs approximately 8,700 professionals in
close to 30 countries, with headquarters in Helsinki, Finland and shares listed
in Nasdaq Helsinki. Read more: www.outokumpu.com