Bulletin from Boliden AB's EGM:
Boliden's EGM approves the creation of New Boliden
Boliden AB's extraordinary shareholders' meeting has today approved the
transaction between Boliden and Outokumpu. The EGM authorized the Board
of Directors to carry out an issuance of new shares in kind to Outokumpu
and an issuance of new shares with preferential rights for Boliden's
shareholders. Furthermore, the shareholders' meeting elected a new Board
of Directors to take over once the transaction is completed at year-end.
The issuance of new shares in kind to Outokumpu, as partial payment for
the mining and smelting assets that Boliden acquires from Outokumpu, is
estimated to take place in connection with completion of the transaction
at year-end. Following the issue, Outokumpu will own 49 percent of all
shares and votes in New Boliden.
The issuance of new shares with preferential rights for Boliden's
shareholders is expected to be carried out during the first quarter of
2004 and it will be fully underwritten. The rights issue will be in the
region of EUR 150 million (SEK 1.3 billion) and it is an integral part
of the transaction.
Today's EGM elected Ms. Satu Huber, Mr. Tapani Järvinen, Mr. Christoffer
Taxell and Mr. Risto Virrankoski as new members to Boliden's Board of
Directors, replacing Ms. Gun Berglund, Mr. Göran Collert, Mr. Sverker
Martin-Löf and Mr. Kjell Nilsson.
Mr. Carl Bennet, Ms. Marie Berglund, Mr. Jan Johansson and Mr. Anders
Sundström will remain members of the Board as elected at the annual
shareholders' meeting in May 2003.
Mr. Risto Virrankoski is proposed to be Chairman and Mr. Carl Bennet
Deputy Chairman of the Board of New Boliden. The Board of Directors of
New Boliden will altogether comprise 11 members including also three
personnel representatives appointed by the labour unions.
The resolutions regarding changes to the Board of Directors are valid
under the condition that, and with effect as from the time of which, the
transaction with Outokumpu is completed.
The complete authorizations of Boliden's Board of Directors granted by
the EGM are available at Boliden's web site www.boliden.com.
Information on the newly elected Board members:
Ms. Satu Huber, 45
M. Sc. (Econ.)
Director of Finance and Head of Finance Division, Finnish State Treasury
Member of the Board of Directors of Finnish Industry Ltd, National Board
of Economic Defence, Association for the Finnish Culture Foundation and
Deputy Member of the Board of Swedish School of Economics and Business
Administration
Mr. Tapani Järvinen, 56
Lic. Tech.
President of Outokumpu Technology and Executive Vice President and
Member of the Group Executive Committee, Outokumpu Oyj
Chairman of the Finnish - Latin American Trade Association
Member of the Board of Directors of International Copper Association and
Eurométaux
Mr. Christoffer Taxell, 55
LL. M
Former minister of the Finnish government
Chairman of the Board of Directors of Finnair Abp, Foundation of Åbo
Academy
Member of the Board of Directors of Stockmann Oyj Abp, Sampo plc, Raisio
Yhtymä Oyj, Nordkalk Corporation and Hormos medical Corp
Mr. Risto Virrankoski, 57
B. Sc. (Econ.)
Deputy Chief Executive and Deputy President, Outokumpu Oyj
Vice Chairman of the Group Executive Committee of Outokumpu Oyj
Member of the Board of Directors of VR Ltd (Finnish Railways)
Photographs can be downloaded from Boliden's web site,
http://www.boliden.com
For further information, please contact:
Boliden
Jan Johansson, President and CEO
tel. +46 8 610 16 02, mobile +46 70 555 02 02
e-mail: [email protected]
Ulf Söderström, Senior Vice President, Corporate Communication
tel +46 8 610 15 57, mobile +46 70 618 95 95
e-mail: [email protected]
Outokumpu
Eero Mustala, Senior Vice President - Corporate Communications
tel. + 358 9421 24 35
e-mail: [email protected]
Johanna Sintonen, Vice President - Investor Relations
tel. +358 9 421 2438, mobile +358 40 530 0778
e-mail [email protected]