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2009-09-25 11:15:00 CEST 2009-09-25 11:15:02 CEST Aktia Oyj - Prospectus/Announcement of ProspectusAktia plc publishes prospectusAktia plc Stock Exchange Release 25.9.2009 at 12.15 Aktia plc publishes prospectus Not for distribution in the United States, Australia, Canada or Japan. The Finnish Financial Supervisory Authority has today approved the prospectus prepared by Aktia plc (Aktia) in connection with the application for listing of the company's shares on NASDAQ OMX Helsinki Ltd (Helsinki Stock Exchange). The prospectus is available in Swedish and Finnish on Aktia's website as of 28 September 2009 as well as at Aktia's headquarters and Helsinki Stock Exchange on approximately 28 September 2009 at the latest. The prospectus contains the following, previously unpublished information, which Aktia in connection with the prospectus work has deemed appropriate to publish separately: - The following breakdown by maturity of Aktia Group's financial liabilities by balance sheet item as of 30 June 2009 has been presented in the prospectus: -------------------------------------------------------------------------------- | Breakdown by | IFRS, 30 June 2009 | | maturity of | (unaudited) | | financial | | | liabilities (EUR | | | million) | | -------------------------------------------------------------------------------- | | under 3 | 3-12 | 1-5 | 5-10 | over 10 | Total | | | months | months | years | years | years | | -------------------------------------------------------------------------------- | Deposits | 3 677.0 | 811.6 | 189.2 | - | - | 4 677 | | | | | | | | .8 | -------------------------------------------------------------------------------- | Financial | - | - | - | - | - | - | | liabilities valued | | | | | | | | through the income | | | | | | | | statement | | | | | | | -------------------------------------------------------------------------------- | Derivative | 2.4 | 7.0 | 88.3 | 29.8 | 0.2 | 127.7 | | instruments | | | | | | | -------------------------------------------------------------------------------- | Debt securities | 146.2 | 373.0 | 1 747. | 301.8 | - | 2 568 | | issued | | | 7 | | | .7 | -------------------------------------------------------------------------------- | Subordinated | 2.8 | 8.0 | 216.6 | 16.4 | - | 243.8 | | liabilities | | | | | | | -------------------------------------------------------------------------------- | Other liabilities | 421.2 | 181.2 | 94.5 | 45.5 | - | 742.4 | | to credit | | | | | | | | institutes | | | | | | | -------------------------------------------------------------------------------- | Other liabilities | 174.4 | 17.4 | - | - | 5.6 | 197.5 | | to the public and | | | | | | | | public sector | | | | | | | | | | | | | | | | entities | | | | | | | -------------------------------------------------------------------------------- | Other liabilities | 744.6 | 579.7 | 2 058. | 363.8 | 5.6 | 3 752 | | | | | 8 | | | .5 | -------------------------------------------------------------------------------- | Total financial | 4 424,1 | 1 398,3 | 2 | 393,5 | 5,8 | 8 558 | | liabilities | | | 336,3 | | | ,0 | -------------------------------------------------------------------------------- - Aktia Group's business transactions with related parties have in the prospectus been complemented with information on services provided by associated companies, which services during the financial year 2006 amounted to 12.7 million euros, during 2007 to 13.7 million euros and during 2008 to 13.4 million euros. - The market value sensitivity in various market risk scenarios of Aktia's financial assets available for sale and derivative instruments used by Aktia as cash flow hedges within the banking business, life insurance business and non-life insurance business as of 31 December 2008 and 30 June 2009 have been presented in the prospectus as follows: -------------------------------------------------------------------------------- | Sensitivity | 31 December 2008 | | analysis for | (unaudited) | | market risks | | -------------------------------------------------------------------------------- | (EUR million) | Interest rate | Spread | Equity | Real | | | | | | estate | -------------------------------------------------------------------------------- | | 1% | 1% | 0.1 | 10% price | 10% price | | | parallel | parallel | percentage | drop | drop | | | shift | shift | unit | | | | | downwards | upwards | change | | | | | | | upwards | | | -------------------------------------------------------------------------------- | Banking | 26.0 | -27.2 | -4.4 | -1.7 | -0.3 | | business 1) | | | | | | -------------------------------------------------------------------------------- | Life | 20.2 | -22.3 | -2.2 | -6.1 | -3.2 | | insurance | | | | | | | business | | | | | | -------------------------------------------------------------------------------- | Non-life | 4.7 | -5.6 | -0.7 | -2.2 | -2.2 | | insurance | | | | | | | business | | | | | | -------------------------------------------------------------------------------- | Total | 50,9 | -55,1 | -7,3 | -10,0 | -5,7 | -------------------------------------------------------------------------------- | ___________________________ | -------------------------------------------------------------------------------- | 1) The item also includes assets of the parent company. | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Sensitivity | 30 June 2009 | | analysis for | (unaudited) | | market risks | | -------------------------------------------------------------------------------- | (EUR million) | Interest rate | Spread | Equity | Real | | | | | | estate | -------------------------------------------------------------------------------- | | 1% | 1% | 0.1 | 10% price | 10% price | | | parallel | parallel | percentage | drop | drop | | | shift | shift | unit | | | | | downwards | upwards | change | | | | | | | upwards | | | -------------------------------------------------------------------------------- | Banking | 26.2 | -27.4 | -4.9 | -1.7 | -0.3 | | business 1) | | | | | | -------------------------------------------------------------------------------- | Life | 18.5 | -19.7 | -1.8 | -3.6 | -3.0 | | insurance | | | | | | | business | | | | | | -------------------------------------------------------------------------------- | Non-life | 4.8 | -5.6 | -0.8 | -0.2 | -2.1 | | insurance | | | | | | | business | | | | | | -------------------------------------------------------------------------------- | Total | 49.5 | -52.7 | -7.5 | -5.5 | -5.4 | -------------------------------------------------------------------------------- | ___________________________ | -------------------------------------------------------------------------------- | 1) The item also includes assets of the parent company. | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Sensitivity | 31 December 2008 | 30 June 2009 | | analysis for market | (unaudited) | (unaudited) | | risks for | | | | derivative | | | | instruments | | | -------------------------------------------------------------------------------- | (EUR million) | Interest rate | Interest rate | -------------------------------------------------------------------------------- | | 1% parallel | 1% parallel | 1% parallel | 1% parallel | | | shift | shift | shift | shift | | | downwards | upwards | downwards | upwards | -------------------------------------------------------------------------------- | Banking business 1) | 6.9 | -7.4 | 8.1 | -8.9 | -------------------------------------------------------------------------------- | Life insurance | 0.0 | 0.0 | 0.0 | 0.0 | | business | | | | | -------------------------------------------------------------------------------- | Non-life insurance | 0.0 | 0.0 | 0.0 | 0.0 | | business | | | | | -------------------------------------------------------------------------------- | Total | 6.9 | -7.4 | 8.1 | -8.9 | -------------------------------------------------------------------------------- | ___________________________ | -------------------------------------------------------------------------------- | 1) The item also includes assets of the parent company. | -------------------------------------------------------------------------------- - The presentation of the merger with Veritas Mutual Non-Life Insurance Company in Aktia Group's cash flow statement for the period 1 January - 30 June 2009 has been clarified in the prospectus as follows: -------------------------------------------------------------------------------- | CASH FLOW STATEMENT | IFRS, 1 January-30 | | | June | -------------------------------------------------------------------------------- | (EUR million) | 2008 | 2009 | | | (unaudite | (unaudited | | | d) | ) | -------------------------------------------------------------------------------- | Operating profit | 29.9 | 22.0 | -------------------------------------------------------------------------------- | Adjustment items not included in cash flow for the | 1.0 | 35.5 | | period | | | -------------------------------------------------------------------------------- | Paid income taxes | -12.7 | -7.8 | -------------------------------------------------------------------------------- | Cash flow from operating activities before change | 18.2 | 49.8 | | in operating receivables and | | | | liabilities | | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Increase (-) or decrease (+) in receivables from | -845.1 | -547.6 | | operating activities | | | -------------------------------------------------------------------------------- | Increase (+) or decrease (-) in liabilities from | 865.5 | 296.2 | | operating activities | | | -------------------------------------------------------------------------------- | Total cash flow from operating activities | 38.6 | -201.6 | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Financial assets held until maturity | - | 5.0 | -------------------------------------------------------------------------------- | Acquisition of subsidiaries and associated | -27.4 | 16.3 1) | | companies | | | -------------------------------------------------------------------------------- | Divestment of subsidiaries and associated companies | -0.8 | 0.0 | -------------------------------------------------------------------------------- | Investments in tangible and intangible assets | -3.3 | -3.7 | -------------------------------------------------------------------------------- | Proceeds from sale of tangible and intangible | 6.7 | 1.3 | | assets | | | -------------------------------------------------------------------------------- | Share issue of Aktia Real Estate Mortgage Bank Plc | 3.8 | 6.6 | | to the minority | | | -------------------------------------------------------------------------------- | Total cash flow from investing activities | -21.0 | 25.5 1) | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Subordinated liabilities | 15.5 | -2.4 | -------------------------------------------------------------------------------- | Increase of share capital | 0.0 | 0.0 1) | -------------------------------------------------------------------------------- | Increase of unrestricted equity reserve | 0.1 | 0.0 1) | -------------------------------------------------------------------------------- | Paid dividends | -20.1 | -10.0 | -------------------------------------------------------------------------------- | Total cash flow from financing activities | -4.4 | -12.4 1) | -------------------------------------------------------------------------------- | Total cash flow | 13.2 | -188.5 | -------------------------------------------------------------------------------- | Cash and cash equivalents at the beginning of the | 240.8 | 512.4 | | period | | | -------------------------------------------------------------------------------- | Cash and cash equivalents at the end of the period | 253.9 | 323.9 | -------------------------------------------------------------------------------- | Change in cash and cash equivalents | 13.2 | -188.5 | -------------------------------------------------------------------------------- | ______________________________ | | | -------------------------------------------------------------------------------- | 1) In Aktia's interim report for the period 1 January - 30 June 2009 the | | payment with Aktia's own shares in connection to the acquisition of Veritas | | Mutual Non-Life Insurance Company has been booked both in the investing | | activities and in the financing activities of the cash flow statement. | | However, now the acquisition is only booked as an investment in the cash | | flow statement. The acquisition consisted of acquired cash amounting to 18.0 | | million euros deducted with an activated acquisition cost of 1.6 million | | euros. | -------------------------------------------------------------------------------- AKTIA PLC For more details, please contact CFO Stefan Björkman, tel. +358 10 247 6595 From Malin Pettersson, Head of Communications, tel. +358 10 247 6369 Distribution NASDAQ OMX Helsinki Ltd Central media www.aktia.fi Important message This document may not be distributed or sent into the United States, Australia, Canada or Japan. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy securities. This document is not an offer for sale of securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The company has not registered, and does not intend to register, any portion of any offering of its securities in the United States, and does not intend to conduct a public offering of its securities in the United States. This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order or (iv) persons who are members or creditors of the company to which this communication relates, falling within article 43(2) of the Order (all such persons in (i), (ii) (iii) and (iv) above together being referred to as "relevant persons"). Any person who is not a relevant person should not act or rely on this document or any of its contents. This document is an advertisement for the purposes of applicable measures implementing Directive 2003/71/EC (such Directive, together with any applicable implementing measures in the relevant home Member State under such Directive, the ("Prospectus Directive"). A prospectus prepared pursuant to the Prospectus Directive will be published in connection with any listing or offering of securities, and will be available at subscription locations in Finland. Any offer of securities to the public that may be deemed to be made pursuant to this communication in any EEA Member State that has implemented Prospectus Directive is only addressed to qualified investors in that Member State within the meaning of the Prospectus Directive. This document may include forward-looking statements. These forward-looking statements include all matters that are not historical facts, statements regarding the company's intentions, beliefs or current expectations concerning, among other things the company's results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which the company operates. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future, and speak only as of the date they are made. The company cautions you that forward-looking statements are not guarantees of future performance and that its actual results of operations, financial condition and liquidity and the development of the industry in which the company operates may differ materially from those made in or suggested by the forward-looking statements contained in this presentation. In addition, even if the company's results of operations, financial condition and liquidity and the development of the industry in which the company operates are consistent with the forward-looking statements contained in this document, those results or developments may not be indicative of results or developments in future periods. The company does not undertake any obligation to review or confirm expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise after the date of this document. |
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