ALMA MEDIA GROUP HOLDS OVER 60 % OF POHJOLAN SANOMAT SHARES

ALMA MEDIA CORP. STOCK EXCHANGE BULLETIN 19 Oct. 1998, 9.30 am ALMA MEDIA GROUP HOLDS OVER 60 % OF POHJOLAN SANOMAT SHARES Alma Media Group’s holding in Pohjolan Sanomat Oyj has risen to 60.0 %, which represents 40.7 % of the voting rights. A 60 % holding does not constitute an obligation to disclose information as defined in Chapter 2, Section 9 of the Securities Markets Act, hence this bulletin is not such a disclosure. On 10 September 1998 Puossakka Oy, a subsidiary of Alma Media Group, made a public offer to acquire all the shares of Pohjolan Sanomat Oyj. Puossakka Oy is a registered shareholder of Pohjolan Sanomat Oyj. The offer commenced on 21 September 1998 and will expire on 31 October 1998. Before the public offer Alma Media Group owned 45.0 % of the Pohjolan Sanomat Oyj shares, which represented 30.0 % of the voting rights. During the offer period Puossakka Oy has acquired altogether 107,010 A shares and 77,296 K shares, in each case for FIM 32 per share. At the moment Alma Media Group holds 444,890 A shares, representing 92.7 % of all the A shares, and 291,090K shares, representing 39.0 % of all the K shares. According to Mr Heikki Saraste, Executive Vice President of Alma Media Corporation, the public offering has made faster than expected progress and it can reasonably be expected that Alma Media Group’s holding will exceed the 2/3rd limit of all the shares. If Alma Media Group’s holding increases during the offer period to at least two-thirds of all the Pohjolan Sanomat Oyj shares, a premium of FIM 8 per share will be paid on all shares sold to Puossakka Oy during the offer period. ALMA MEDIA CORPORATION Ahti Martikainen Vice President, Corporate Communications Distribution: Helsinki Stock Exchange Principal media
  • Date: 19.10.1998, 08:00
  • News type: Stock exchange release

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