Metso Corporation's demerger registered with the Finnish Trade Register
Metso Corporation's stock exchange release on December 31, 2013 at 10:20 a.m.
The completion of the partial demerger decided by Metso Corporations's
Extraordinary General Meeting held on October 1, 2013 has been registered with
the Finnish Trade Register today, December 31, 2013.
The Extraordinary General Meeting held on October 1, 2013 decided to approve the
partial demerger in accordance with the demerger plan signed by Metso's Board of
Directors on May 31, 2013. According to the demerger plan, Metso has demerged
its businesses through a partial demerger, transferring all the assets, debts,
and liabilities relating to Metso's Pulp, Paper and Power businesses, without
liquidation, from Metso to Valmet Corporation. Metso's Mining and Construction
and Automation businesses remain part of Metso. Following the completion of the
demerger, Valmet is an independent public limited company, separate from Metso.
As a result of the registration of the completion of the demerger, the terms of
office of the following members of Metso's Board of Directors has ended: Â Jukka
Viinanen, Mikael von Frenckell, Erkki Pehu-Lehtonen and Pia Rudengren. In
accordance with the decision made by the Extraordinary General Meeting on
October 1, 2013, the composition of the Metso's Board of Directors following
Â the registration of the completion of the demerger is as follows: Mikael Lilius
(Chairman), Christer Gardell (Vice Chairman) and Ozey K. Horton, Jr., Wilson
NÃ©lio Brumer, Lars Josefsson, Nina Kopola and Eeva SipilÃ¤. Â As the new Chairman
of Metso's Board of Directors Mikael Lilius will serve as the Nomination Board's
member as Jukka Viinanen's terms of office has ended.
As part of the partial demerger, Metso's shareholders have received one (1)
Valmet share for each of their Metso shares as a demerger consideration. No
demerger consideration was issued in respect of own shares held by Metso. As a
result, the number of Valmet shares given as a demerger consideration was
149,864,619. The completion of the demerger does not affect the listing of Metso
shares on the official list of NASDAQ OMX Helsinki Ltd.
The Finnish language demerger prospectus approved by the Finnish Financial
Supervisory Authority, together with an unofficial English translation, has been
available on Metso's website www.metso.com/demerger, since September 23, 2013.
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:
Harri Nikunen, CFO, Metso Corporation, tel +358 20Â 484 3010
VP, Investor Relations
NASDAQ OMX Helsinki Ltd
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Source: Metso Corporation via GlobeNewswire