Outokumpu Executes Convertible Bond Conversion and Offsets With Treasury Share Cancellation

Outokumpu Executes Convertible Bond Conversion and Offsets With Treasury Share Cancellation

(IN BRIEF) Outokumpu is converting EUR 2.5 million of its outstanding convertible bond into 941,832 new shares and simultaneously canceling an equal number of treasury shares to keep its total share count unchanged. Following the transaction, the company will retain 31.7 million treasury shares. The new shares and cancellation are set to be registered by April 24, 2025, with trading expected to start the following day.

(PRESS RELEASE) HELSINKI, 16-Apr-2025 — /EuropaWire/ — Outokumpu has announced the conversion of EUR 2.5 million of its EUR 125 million senior unsecured convertible bond, due in July 2025. The bond conversion corresponds to 941,832 new shares of the company, which will be issued accordingly.

To maintain the existing number of total shares, Outokumpu has simultaneously resolved to cancel an equivalent number of its treasury shares. As a result, there will be no net change in the company’s total share count following these actions. Post-cancellation, Outokumpu will hold 31,702,784 treasury shares.

The registration of both the new shares issued and the cancellation of treasury shares is expected to take place in the Finnish Trade Register around April 24, 2025. The newly issued conversion shares will entitle holders to full shareholder rights upon registration, with trading on Nasdaq Helsinki Ltd anticipated to begin on or around April 25, 2025.

Media Contact:

Investors:
Linda Häkkilä
Head of Investor Relations
tel. +358 400 719 669

Media:
media desk
tel. +358 40 351 9840
e-mail: media@outokumpu.com

SOURCE: Outokumpu