0P6X Talvivaaran Kaivososakeyhtio Oyj

 
TIDMAHT 
 
   Stock Exhange Release 
 
   Ahtium Plc 
 
   30 January 2018 
 
   Insider dealing charges brought against the CEO and the Deputy CEO of 
Ahtium in a matter concerning Talvivaara Management Ltd - no personal 
benefit claimed to have been gained by the defendants 
 
   Ahtium Plc (the "Company") has been notified that charges have been 
brought against the CEO and a member of its Executive Committee acting 
as the Deputy CEO on a case concerning alleged misuse of insider 
information. The charges concern the sale of subscription rights by the 
former key employees' holding company Talvivaara Management Ltd in March 
2013, which sales proceeds were used to subscribe for the shares in the 
Rights Issue organized by Talvivaara Mining Company Plc ("Talvivaara"). 
Talvivaara Management Ltd was a holding company whose shareholders 
included, in addition to the CEO and the Deputy CEO of the Company, 14 
employees among Talvivaara's management and key employees. The sole 
purpose of the company was to hold shares in Talvivaara. Talvivaara 
Management Ltd was dissolved in the spring 2015. 
 
   Talvivaara Management Ltd participated in Talvivaara's Rights Issue in 
March 2013. The company financed its subscriptions by selling through 
public trading a part of its subscription rights relating to the Rights 
Issue and by using the entire sales proceeds, net of income taxes, to 
subscribe for new shares in Talvivaara. Talvivaara lowered its annual 
production guidance in July 2013, four months after the Rights Issue and 
the cessation of trading in the subscription rights, at which time 
Talvivaara Management Ltd still held all the shares in Talvivaara 
subscribed for in the Rights Issue or acquired prior to that. During its 
existence Talvivaara Management Ltd never sold any of the Talvivaara 
shares it held. 
 
   The charges of which the Company has now been notified concern 
aggravated misuse of insider information, but according to the charges 
the defendants have not gained any personal benefit, which would be 
required to be forfeited through the court process. The Company is not a 
party to the case, and the Company's view is that the brought charges 
have no impact on the Company or its financial position nor do they give 
any reason to reassess the position of the CEO or the composition of the 
Company's Executive Committee. 
 
   Enquiries 
 
   Ahtium Plc Tel +358 20 7129 800 
 
   Tapani Järvinen, Chairman of the Board of Directors 
 
   Charges in a matter concerning Talvivaara Management Ltd: 
http://hugin.info/136227/R/2164703/832811.pdf 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Ahtium Oyj via Globenewswire 
 
 
  http://www.talvivaara.com 
 

(END) Dow Jones Newswires

January 30, 2018 07:27 ET (12:27 GMT)

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