Stock Exchange Release
Talvivaara Mining Company Plc
7 May 2015
The creditors' voting procedure for Talvivaara's draft restructuring programme completed
The Administrator's proposal strongly supported by the creditors
The creditors' voting procedure on the draft restructuring programme of Talvivaara Mining Company Plc ("Company") in accordance with section 76 of the Restructuring of Enterprises Act has been completed on 6 May 2015. The approval of the draft restructuring programme requires support from the creditors whose receivables amount to at least ca. 105 million euros in aggregate. The Administrator has tentatively informed the Company that the draft restructuring programme has been supported by creditors whose receivables amount to more than 270 million euros in aggregate. The number of creditors voting against the proposal has been limited and the aggregate amount of the receivables of these creditors is ca. 5 million euros. Thus, the requisite amount of votes supporting the draft restructuring programme has been received. The exact number of the supporting votes is to be confirmed during next couple of days, but the view of the Company and the Administrator is that this will not affect the outcome of the voting. The Administrator will prepare a voting report by 25 May 2015 and file it with the District Court.
The entry into force of the draft restructuring programme requires in addition that the special conditions set by the draft restructuring programme concerning the Company's business operations and other conditions set by the law have been met.
Enquiries
Pekka Jaatinen, Attorney-at-Law Tel +358 20 7765 765
Castrén & Snellman Attorneys Ltd
Talvivaara Mining Company Plc Tel +358 20 7129 800
Pekka Perä, CEO
Pekka Erkinheimo, Deputy CEO
Talvivaara's corporate restructuring proceeding 7.5.2015 http://hugin.info/136227/R/1919658/687417.pdf
HUG#1919658
