Status of Talvivaara's corporate reorganization
Stock Exchange Release
Talvivaara Mining Company Plc
23 March 2017
Status of Talvivaara's corporate reorganization
Talvivaara Mining Company Plc ("Talvivaara" or the "Company") has today been informed by the administrator of its corporate reorganization proceedings (the "Administrator") that the District Court of Espoo has requested the Company to give a response in the matter concerning the confirmation request filed to the District Court by the Administrator on 6 March 2017. Concurrently, the Company was notified that Finnvera Plc, Nordea Bank AB (Publ.), Finnish branch, Danske Bank Plc, OP Corporate Bank Plc and Svenska Handelsbanken AB, Finnish branch have given a response to the District Court where they have objected the confirmation of the restructuring programme, requesting the cessation of the corporate reorganization proceedings and placing the Company in bankruptcy.
The Company has also been informed that the representative of the Company's bond holders has filed a response supporting the confirmation of the restructuring programme.
The Company and the Administrator will give their responses to the District Court of Espoo in due course. The Company's and Administrator's view is that the Company has fulfilled the special conditions set for the entry into force of the restructuring programme, as they were approved by the creditors in the creditors' voting procedure. The Company anticipates the District Court of Espoo to announce its decision in the matter in the next few weeks.
Enquiries
Talvivaara Mining Company Plc Tel +358 20 7129 800
Pekka Perä, CEO
Pekka Erkinheimo, Deputy CEO
Castrén & Snellman Attorneys Ltd Tel +358 20 7765765
Administrator Pekka Jaatinen, Attorney-at-Law
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Talvivaaran Kaivososakeyhtiö Oyj via Globenewswire