Talvivaara's corporate reorganisation processes proceed
02.10.2014 | Globenewswire Europe
Stock Exchange ReleaseTalvivaara Mining Company Plc
2 October 2014
Talvivaara's corporate reorganisation processes proceed
The District Court of Espoo has today given an interim decision relating to the
draft restructuring programmes of Talvivaara Mining Company Plc and its
operating subsidiary Talvivaara Sotkamo Ltd. The District Court has decided to
continue processing of the draft restructuring programmes filed by the
Administrator on 30 September 2014.
The District Court ruled that the creditors shall present their claims regarding
the receivables listed in the draft restructuring programmes to the
Administrator by 24 October 2014. The Administrator shall supplement the draft
restructuring programmes arising out of the contemplated transfer of business
operations of Talvivaara Sotkamo Ltd by 2 December 2014. The creditors will
thereafter have a possibility to give their statement on the draft programmes.
The statements shall be delivered to the District Court by 19 December 2014.
Enquiries
Talvivaara Mining Company Plc Tel +358 20 7129 800
Pekka Perä, CEO
Saila Miettinen-Lähde, Deputy CEO and CFO
Pekka Jaatinen, Attorney-at-Law Tel +358 20 7765 765
Castrén & Snellman Attorneys Ltd
Talvivaara Mining Company Plc
Talvivaara Mining Company is an internationally significant base metals producer
with its primary focus on nickel and zinc using a technology known as
bioheapleaching to extract metals out of ore. Bioheapleaching makes extraction
of metals from low grade ore economically viable. The Talvivaara deposits
comprise one of the largest known sulphide nickel resources in Europe. The ore
body is estimated to support anticipated production for several decades.
Talvivaara has secured a 10-year off-take agreement for 100 per cent of its main
output of nickel and cobalt to Norilsk Nickel and entered into a long-term zinc
streaming agreement with Nyrstar NV. Talvivaara is listed on NASDAQ Helsinki.
Further information can be found at www.talvivaara.com.
Talvivaara's corporate reorganisations proceed 2.10.2014:
http://hugin.info/136227/R/1860315/651998.pdf
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Source: Talvivaaran Kaivososakeyhtiö Oyj via GlobeNewswire
[HUG#1860315]
