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Friday 17 January, 2014

Okmetic Oyj

Okmetic Oyj acquires the entire share capital o...

Okmetic Oyj acquires the entire share capital of Okmetic Management Oy from group's top management

OKMETIC OYJ        STOCK EXCHANGE RELEASE       17 JANUARY 2014   9.00 A.M.

Okmetic Oyj acquires the entire share capital of Okmetic Management Oy from group's top management

On 1 February 2010, President of Okmetic Kai Seikku and Deputy to the President Mikko Montonen founded a limited company named Okmetic Management Oy, which acquired 400,000 Okmetic shares in a directed share issue. The acquisition was financed by capital investments of 400,000 euro in total in the new company by Seikku and Montonen, and by an 800,000 euro loan granted by Okmetic Oyj. The arrangement was announced with a stock exchange release on 25 January 2010. The shareholders of Okmetic Management Oy are members of the Executive Management Group of Okmetic Oyj.

In December 2012, the Board of Directors of Okmetic Oyj decided to extend the ownership arrangement, originally planned approximately for a three-year period, by a maximum of one year, meaning that the loan would be repaid on 31 March 2014 at the latest.
The Board has now decided that the repayment will be made with an arrangement in which Okmetic Oyj acquires the entire share capital of Okmetic Management Oy. Also 400,000 shares of Okmetic Oyj will be transferred to the group via Okmetic Management Oy, as well as a loan receivable of Okmetic Oyj of 498,800 euro from Okmetic Management Oy. There are no shareholders of Okmetic Management Oy in the Board of Directors of Okmetic Oyj.

The value of the arrangement for the part of shares owned by Okmetic Management Oy is determined using the average trading price weighted by trading volume of the company's share in NASDAQ OMX Helsinki Oy on 16 January 2014, 4.9969 euro.

The decision to repurchase company's own shares is based on existing authorisation of the Board of Directors given by the Annual General Meeting on 10 April 2013.

Prior to the acquisition, Okmetic Oyj had 17,287,500 issued shares, of which 194,123 shares were held by the company. Following the acquisition the number of issued shares will remain unchanged. After the acquisition and the directed share issue announced in a separate stock exchange release from today, the company will hold directly 44,123 own shares and indirectly via Okmetic Management Oy 400,000 own shares.

OKMETIC OYJ

Board of Directors

For further information, please contact:

Juha Jaatinen, Senior Vice President, Finance, IT, and Communications, Okmetic Oyj, tel. +358 5028 0286, e-mail: [email protected]

Distribution:
NASDAQ OMX Helsinki Ltd
Principal media
www.okmetic.fi

OKMETIC IN BRIEF

Take it higher

Okmetic is a technology company which supplies tailor-made silicon wafers for sensor and semiconductor industries and sells its technological expertise. Okmetic provides its customers with solutions that boost their competitiveness and profitability.

Okmetic's silicon wafers are part of a further processing chain that produces end products that improve human interaction and quality of life. The company's products are based on high-tech expertise that generates added value for customers, innovative product development and an extremely efficient production process.

Okmetic has a worldwide clientele and sales network, production plants in Finland and in the United States as well as license-based production in Japan and in China.

Okmetic's shares are listed on the NASDAQ OMX Helsinki Ltd under the trading symbol OKM1V. Additional information can be found on the company's website: www.okmetic.com.




This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Okmetic Oyj via Globenewswire

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