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Fingrid Oyj — Major Shareholding Notification 2011
Apr 19, 2011
10484_rns_2011-04-19_a00d7c0b-eccb-4d2a-9edb-c0d8517ee805.pdf
Major Shareholding Notification
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Fingrid Oyj / Miscellaneous
19.04.2011 11:00
Dissemination of a UK Regulatory Announcement, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement.
Helsinki, Finland, 2011-04-19 11:00 CEST (GLOBE NEWSWIRE) -- Fingrid Oyj
Stock exchange release 19 April 2011 at 12.00 EET
Fingrid's ownership rearrangements brought to conclusion
The ownership rearrangements of Fingrid Oyj, the electricity transmission system operator in Finland, have been brought to conclusion. Pohjolan Voima Oy and Fortum Power and Heat Oy have divested their holding in Fingrid to the State of Finland and Mutual Pension Insurance Company Ilmarinen. The ownership arrangements are based on the EU's directive concerning the internal electricity market. The directive requires that transmission system companies are unbundled from electricity generating and selling companies by March 2012.
The State of Finland acquired approx. 81 per cent and Ilmarinen approx. 19 per cent of the shares held previously by Fortum and Pohjolan Voima. After the share transaction, the holding of the State of Finland in Fingrid is approx. 53 per cent and that of Ilmarinen approx. 20 per cent. The other shareholders, which are mainly Finnish pension insurance and insurance companies, have a holding of approx. 27 per cent.
Fingrid Oyj owns the Finnish electricity transmission grid and all significant cross-border transmission connections. The transmission grid is the high-voltage trunk network which covers the entire Finland. Major power plants, industrial plants and regional electricity distribution networks are connected to the grid. The transmission grid encompasses a total of approx. 14,000 kilometres of transmission lines and more than 100 substations.
Further information:
Fingrid Oyj, Jukka Ruusunen, President & CEO, tel. +358 40 593 8428
News Source: NASDAQ OMX
19.04.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: Fingrid Oyj
FI
Phone:
Fax:
E-mail:
Internet:
ISIN: XS0113638653
Category Code: MSC
LSE Ticker: BR96
Sequence Number: 772
Time of Receipt: Apr 19, 2011 11:00:04
End of Announcement
DGAP News-Service