Fortum places the security approved by the arbitral tribunal
On 28 August 1998, in accordance with the decision made by the arbitral tribunal appointed to review the redemption right of and the redemption price offered to Neste’s minority shareholders, Fortum Oyj has placed a security for the payment of the redemption price to Neste’s minority shareholders. The arbitral tribunal has approved the security placed by Fortum. By virtue of the Companies Act, title to the remainder of Neste’s minority shares is transferred to Fortum upon placement of the security approved by the arbitral tribunal. Accordingly, with effect from 28 August 1998, Fortum owns 100% of Neste’s share capital.
The arbitral award confirming the redemption price of Neste’s minority shares may already be issued within the first half of the month of September.
Executive Vice President, Communications
For further information: Fortum Oyj, Harri Pynnä, Executive Vice President, Legal Affairs
tel. +358 9 6185 8206
Fortum Oyj, Antti Ruuskanen, Executive Vice President, Communications
tel. +358 9 6185 8207
DISTRIBUTION HEX Helsinki Stock Exchange
The information contained herein is not for publication or distribution to persons in the United States of America. The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended. The materials do not constitute an offer of securities for sale in the United States; the securities may not be offered or sold in the United States absent registration or an exemption from registration; and any public offering of securities to be made in the United States will be by means of a prospectus that may be obtained from the issuer or the selling security holder and that will contain detailed information about the company and the management, as well as financial statements.