POHJOLAN VOIMA OYJ STOCK EXCHANGE RELEASE 18 NOVEMBER 2024
The resolutions of Pohjolan Voima Oyj’s Extraordinary General Meeting held on 18 November 2024
Pohjolan Voima Oyj’s (the “Company”) Extraordinary General Meeting approved on 18 November 2024 a reduction in the Company’s share capital in the share series C and the acquisition of the shares in the share series in question.
In order to acquire the stocks in the C share series, the Company’s share capital will be reduced by EUR 1,982,534.30. The Company’s restricted shareholders’ equity will be reduced by EUR 1,982,534.30 which is the purchase price of the shares of the C share series as well as the market price of the shares based on the established calculation methods regarding the valuation of the Company’s shares. The acquisition of the shares to the Company will be finalized on the first day of the calendar month following the reduction of the share capital. The shares in the C share series will be nullified after the acquisition. The shares in the C share series will be acquired as a directed acquisition to which there is a weighty financial reason as set out in Chapter 15 Section 6 of the Finnish Limited Liability Companies Act. The shares in the C share series have entitled to power generated by PVO-Lämpövoima Oy’s power plants. The power plants of PVO-Lämpövoima Oy have been demolished and the Extraordinary General Meeting approved also the issuance of a binding rule to set PVO-Lämpövoima Oy into liquidation. There is no longer power production in the C share series and therefore, it is appropriate for the Company to acquire the shares and to nullify the share series. The Extraordinary General Meeting additionally approved the amendments to be made in the Company’s Articles of Associaton subsequent to the nullification of the shares. The references to the share series C and PVO-Lämpövoima Oy as well as rights and obligations concerning PVO-Lämpövoima Oy will be removed in Sections 3 and 4.
After the reduction, the Company’s share capital will be EUR 47,693,532.97 and the share premium fund will be EUR 191,592,407.63. The reduced share capital of the Company and any other non-distributable items referred to in Chapter 13, Section 5 of the Limited Liability Companies Act will remain fully covered after the reduction of the share capital.
Furthermore, the Extraordinary General meeting approved on behalf of the Company the proposal of the Board of Directors of Teollisuuden Voima Oyj (TVO) to the Extraordinary General Meeting of TVO to partially convert TVO’s shareholder loans into the reserve for invested unrestricted equity.
Distribution:
Nasdaq Helsinki
Further enquiries:
CFO Minna Laakso, Pohjolan Voima Oyj, +358 40 506 802, minna.laakso@pvo.fi
About Pohjolan Voima Oyj
Pohjolan Voima is a long-lived Finnish energy company. We are one of Finland’s largest energy producers – our production accounts for over 20% of the nation’s total electricity production. The electricity we produce is almost completely carbon neutral. We produce electricity and heat at cost price for the needs of our owners – Finnish industrial and energy companies – with reliable and adjustable hydropower, thermal power and nuclear power that ensures security of supply. We are a team of top professionals and are proven as one of Finland’s most inspiring workplaces. At Pohjolan Voima, we pride ourselves on doing meaningful work in line with our values, skilfully, reliably, together. We are committed to carbon neutrality and improving biodiversity. Our objective is to create decisive power to strengthen competitiveness and contribute to a better tomorrow. www.pohjolanvoima.fi