New Boliden rights issue over-subscribed
New Boliden has completed the rights issue with preferential rights for
existing shareholders, providing the company with new financing of
approximately SEK 1.4 billion before deduction of costs related to the
rights issue. Shareholders have shown a strong support and the rights
issue was over-subscribed.
Further to the end of the subscription period, the preliminary results
indicate that approximately 99 percent of the new shares offered have
been subscribed for by the exercise of rights. Further, the preliminary
results indicate that new shares representing approximately 15 percent
of the total rights issue have been applied for on a non-preferential
basis. As a result of the rights issue being fully subscribed, there
will be no allocation on new shares to the underwriters pursuant to
their underwriting commitments.
"We are very pleased with the strong support of our shareholders and
their belief in new Boliden. The rights issue was undertaken as an
integral part of the deal with Outokumpu. New Boliden is now a
financially stronger company and we can fully focus on further
developing our businesses", says Jan Johansson, President and CEO of new
Boliden.
Boliden expects the rights issue to be completed according to the
following timetable:
7th April 2004 - last day for trading in interim shares ("BTA"). Any
trading on 7th April 2004 will entail payment and delivery on 13th April
2004, i.e. with a two-day payment deadline instead of the usual three
days.
8th April 2004 - first day of trading in new shares.
13th April 2004 - press release announcing final confirmation of the
subscription level.
15th April 2004 - delivery of new shares, subscribed for by exercising
rights, to shareholders' accounts.
For further information, please contact:
Jan Johansson, President and CEO
telephone +46 8 610 16 02, + 46 70 555 02 02
Ulf Söderström, Senior VP Group Communications
telephone +46 8 610 15 57, +46 70 618 95 95
Boliden is one of the leading mining and smelting companies in the world
with operations in Sweden, Finland, Norway, Ireland and Canada.
Boliden's main products are copper, zinc, lead, gold and silver.
Exploration and Recycling of Base Metals are also important within the
company. The number of employees is approximately 4 900 and the turnover
amounts to approximately EUR 1.6 billion annually. The Boliden share is
quoted on the Stockholm Stock Exchange in Sweden as well as on the
Toronto Stock Exchange in Canada.