Special General Meeting of shareholders in Sandvik AB
The Special General Meeting of shareholders in Sandvik AB, held in Sandviken 18 June 1996, resolved to divest the company's holding of shares in Tamrock Oy (Tamrock) to Tampella Ab (Tampella).
The holding corresponds to 25% of all shares outstanding in Tamrock and the purchase price is FIM 325 m.
In conjunction with the transfer, Sandvik will subscribe for a three-year convertible debenture loan in Tampella in a nominal amount of FIM 322 m. and including the possibility during the term to convert to 28 million Tampella shares. FIM 3 m. is being paid in cash.
After full conversion and taking into account Sandvik's shareholding in Tampella at 17 June 1996 (64,880,501 shares; 48.69%) and otherwise unchanged conditions, Sandvik will own 92,880,501 shares in Tampella, corresponding to 57.6% of the capital and votes in the company.
Sandviken, 18 June 1996
SANDVIK AB; (publ)