PRESS RELEASE 26 September 2012 at 13.00 EET
Fortum's subsidiary in Russia, OAO Fortum, has requested for delisting of its shares in the Moscow Stock Exchange. Stocks of OAO “TGK-10” (OAO Fortum) were excluded from the Moscow Stock Exchange List B in October 2008 and included since that into the unlisted securities section. Clearly over 90% of OAO Fortum has been owned by Fortum Corporation since 2008.
In accordance with the Russian Law, suspension of OAO Fortum stock trading does not entail any special procedures on the buy-out of shareholders’ stocks.
Fortum's purpose is to create energy that improves life for present and future generations. We provide sustainable solutions that fulfil the needs for low emissions, resource efficiency and energy security, and deliver excellent value to our shareholders. Our activities cover the generation, distribution and sales of electricity and heat as well as related expert services.
Fortum's operations focus on the Nordic countries, Russia, Poland and the Baltics. In the future, the integrating European and fast-growing Asian energy markets provide additional growth opportunities. In 2011, Fortum’s sales totalled EUR 6.2 billion and comparable operating profit was EUR 1.8 billion. We employ approximately 10,800 people. Fortum’s shares are quoted on NASDAQ OMX Helsinki.
Further information: www.fortum.com