Status of Talvivaara's corporate reorganization

Donnerstag, 23.03.2017 14:35 von GlobeNewswire

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

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