Talvivaara Mining Company Plc: The District Court of Espoo confirmed Talvivaara's Corporate Restructuring Programme
Stock Exchange Release
Talvivaara Mining Company Plc
2 June 2017
The District Court of Espoo confirmed Talvivaara's Corporate Restructuring Programme - the development of Talvivaara's new businesses and acquiring finance continues
Talvivaara Mining Company Plc ("Talvivaara" or the "Company") announces that the District Court of Espoo has today 2 June 2017 given its ruling and confirmed Talvivaara's Corporate Restructuring Programme. The Court also accepted entry into force of the Programme despite the possible appeal process.As a result of the ruling, the corporate reorganization proceedings of Talvivaara have been completed.
The Administrator of the Company's corporate reorganization proceedings filed a request for confirmation of the Restructuring Programme of Talvivaara to the District Court of Espoo on 6 March 2017, when all the special conditions set for the confirmation and entry into force of the Restructuring Programme were fulfilled.
Talvivaara focuses now in developing, commercializing and financing its new business opportunities and managing the EUR 9,6 million liabilities set in the confirmed Restructuring Programme. After the confirmation of the Restructuring Programme, acquiring additional finance for the new businesses and for paying the restructuring debts can proceed in accordance with the plan. According to the Restructuring Programme confirmed by the District Court, Talvivaara has two years to pay the secured and unsecured restructuring debts to the creditors.
The Company will inform the market on the development of its selected businesses and business opportunities in due course.
The District Court of Espoo's ruling on confirmation of the Corporate Restructuring and the confirmed Restructuring Programme are available in Finnish on the Talvivaara corporate website at www.talvivaara.com/corporate-reorganisation.
Enquiries
Talvivaara Mining Company Plc Tel +358 20 7129 800
Pekka Perä, CEO
Pekka Erkinheimo, Debuty CEO
Castrén & Snellman Attorneys Ltd Tel 020 7765765
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