Share subscription based on the conversion of the convertible bond and simultaneous cancellation of treasury shares

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