In 2014, Outokumpu had an Annual General Meeting and two Extraordinary General Meetings, of which in February the first, in February, decided upon a rights issue and another one in June on a reverse split.

Annual General Meeting 2014

Outokumpu Oyj held its Annual General Meeting on April 14, 2014 in Espoo, Finland. The Annual General Meeting approved the financial statements and discharged the management of the company from liability for the financial year 2013. The Meeting decided that no dividend be paid for 2013 and approved the proposals regarding the authorization to the Board of Directors to repurchase the company’s own shares and to decide on the issuance of shares as well as other special rights entitling to shares.

Extraordinary General Meeting in June

The Extraordinary General meeting decided that the number of shares in Outokumpu be reduced without reducing the share capital by merging each twenty five (25) shares to one (1) share by means of a reverse share split. The purpose of merging the shares is to increase the value of individual shares and therefore to facilitate trade in said shares and improve the efficiency of the price setting of the share. The reverse share split shall be carried out by redeeming from every shareholder without compensation a number of shares equal to the outcome of multiplying the number of shares on each book-entry account on June 19, 2014, the date of the reverse split, by a coefficient of 24/25. In order to avoid share fractions, the number of shares redeemed from each shareholder shall be, if needed, rounded up to the nearest whole share. The number of shares shall be determined separately for each book-entry account. The redemption shall be carried out without compensation, except for the compensation paid as a result of the rounding up referred to in Chapter 15, Section 9 of the LLCA. In carrying out this procedure, no action is required on the part of the shareholders.

Read more about reverse split. 

Extraordinary General Meeting in February

The Extraordinary General Meeting authorized, according to the Board of Directors proposal, the Board of Directors to decide on a share issue in which shareholders will have the right to subscribe for new shares in proportion to their existing share holdings in the Company for a consideration. The Board of Directors will have the right to decide upon the offering to parties determined by the Board of Directors of any shares that may remain unsubscribed for pursuant to the shareholders’ pre-emptive subscription right. The number of the shares issued based on the authorization may not exceed 65,000,000,000 shares. The Board of Directors is authorized to decide upon the other terms and conditions of the share issue.

AGM 2014 materials

Minutes of the meeting 2014
Resolutions of the AGM 2014
Minutes of the Extraordinary General Meeting 2014
Minutes of the Extraordinary General Meeting, June 2014
Resolutions of the Extraordinary General Meeting, June 2014
Notice to the Annual General Meeting 2014
CV of Roberto Gualdoni
CV of Stig Gustavson
Notice to the Extraordiary General Meeting 2014
CEO's review
Annual Report 2013
Annual Accounts Bulletin 2013