Shares

Raute Corporation’s Annual General Meeting held on March 30, 2023 decided on the combination of share classes by amending the Articles of Association by removing Articles concerning the different share classes. The amendments to the Articles of Association were registered with the trade register maintained by the Finnish Patent and Registration Office on April 3, 2023.  After the completion of the combination of the share classes, all of the company’s shares are of the same class and carry equal rights in the company, including one (1) vote in General Meetings. The total number of the Company’s shares did not change as result of the combination of the share classes, but the previous ordinary shares, which were not subject to trading on the official list of Nasdaq Helsinki Ltd’s stock exchange (the “Helsinki Stock Exchange”), were converted to shares in the only share class of the company at conversion rate of 1:1 (the “Conversion Shares”). The company applied for the admission of the Conversion Shares to trading on the Helsinki Stock Exchange, so that trading in the shares began on May 24, 2023.

Directed share issue

The Annual General Meeting of Raute Corporation held on March 30, 2023 decided on a directed share issue deviating from the shareholders' pre-emptive subscription rights. The 839,039 new Raute Corporation  shares subscribed in the company’s directed share issue were registered with the trade register maintained by the Finnish Patent and Registration Office on April 5, 2023. The total number of shares in the Company after the registration of the new shares was 5,102,233. The new shares subscribed in the directed share issue will produce the right to dividend and other distribution of funds as well as other shareholder rights as of this registration day.

643,725 of the new shares were applied for trading on official list of Nasdaq Helsinki Oy's ("Helsinki Stock Exchange") so that trading started on April 6, 2023. 

The remaining 195,314 new shares ("Shares Subject to Later Listing") were applied to be admitted to trading on the Helsinki Stock Exchange so that trading in them began on May 24, 2023.

Share offering May 30-June 13, 2023 

Raute arranged a share offering, offering a maximum total of 1,020,446 new shares in the company for subscription based on the shareholders’ pre-emptive subscription right. The subscription period for the offered shares began on May 30, 2023 and ended on June 13, 2023.

According to the final result of Raute Corporation’s (the “Company” or “Raute”) rights offering (the “Offering”), a total of 1,381,061 new shares in the Company were subscribed for in the Offering, which corresponds to approximately 135 per cent of the 1,020,446 new shares in the Company offered in the Offering. Consequently, the Offering was oversubscribed. In the Offering, a total of 911,387 new shares, corresponding to approximately 89 per cent of the shares offered, were subscribed for with subscription rights and a total of 469,674 new shares were subscribed for without subscription rights. The subscription price was EUR 7.35 per new share. 

The Board of Directors of the Company decided on 16 June 2023 on the approval of the subscriptions made in the Offering in accordance with the terms and conditions of the Offering, including without limitation the allocation principles set out therein. In accordance with the terms and conditions of the Offering, the offer shares remaining after primary subscriptions were allocated first to those subscribers who had given a subscription commitment and subscribed for offer shares in the secondary subscription in accordance with their advance subscription commitment and second to those subscribers who had subscribed for offer shares in the secondary subscription. 

The 1,020,446 new shares issued in the rights offering were registered on 20 June 2023 with the trade register maintained by the Finnish Patent and Registration Office. After the registration of the new shares, the total number of shares in the Company is 6,122,679. The new shares carry equal rights to dividends and other distributions of funds possibly carried out by the Company as well as other shareholder rights in the Company after the shares have been registered with the trade register and entered into the Company’s shareholder register maintained by Euroclear Finland Oy. Trading in the new shares on the official list of Nasdaq Helsinki Ltd commenced on 21 June 2023.

Read more on the share offering here>>>