|
|||
2007-10-16 08:54:09 CEST 2007-10-16 08:54:09 CEST REGULATED INFORMATION Finnair Oyj - Company AnnouncementFINNAIR CONSIDERS A SHARE OFFERING TO FINANCE ITS INVESTMENT PROGRAMMENOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN. Finnair Plc has studied strengthening its capital structure and is considering a share offering to finance partially its near-term investment programme. The investment programme is over EUR 1 billion during the period ending 2010 and consisting mainly of new Airbus wide-bodied aircraft for the company's long-haul network. The offering structure being contemplated is a rights issue, in which the existing shareholders would have a pre-emptive right to subscribe for new shares in proportion to their current shareholdings. The size of the contemplated share offering is up to EUR 250 million and Finnair plans to convene an Extraordinary General Meeting to decide on the share offering during the fourth quarter of 2007, subject to favourable market conditions. Finnair has appointed Danske Markets and UBS Investment Bank as Joint Global Coordinators for the planned share offering and Aventum Partners as its Financial Adviser. Finnair has currently firm orders for five Embraer 190 aircraft to be delivered between 2007 and 2009. Two ordered wide-bodied Airbus A340 aircraft will be delivered in 2008 and seven more Airbus A330 aircraft between 2009 and 2010. In addition, the company has options for three more A330 or A340 aircraft. The new aircraft will replace the current long-haul fleet of seven Boeing MD-11 aircraft. In addition, Finnair can expand its long-haul fleet from the current ten up to 15 aircraft. At the beginning of the next decade, Finnair expects to have a completely modernised fleet for its long-haul traffic and one of the most modern fleets in Europe. The modern fleet aims, among others, at improving fuel and eco-efficiency. “I am very excited about Finnair's growth prospects. The renewal and expansion of the long-haul fleet is an essential part of our Asian strategy. With the contemplated share offering and sound profitability we will be able to carry out our planned investments whilst maintaining a prudent balance sheet”, says Finnair's President and CEO Jukka Hienonen. Finnair Plc Communications 16.10.2007 Additional information: Lasse Heinonen, CFO, Finnair, tel. +358 9 818 4950 The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan. These written materials do not constitute an offer of securities for sale in the United States, nor may the securities be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. There is no intention to register any portion of the offering in the United States or to conduct a public offering of securities in the United States. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. This document does not constitute an offer of securities to the public in the United Kingdom. No prospectus has been or will be approved for publication in the United Kingdom in respect of the securities. Consequently the securities must not be sold or offered for sale in the United Kingdom, except to persons who fall within the exemptions set out in the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended. Danske Bank A/S ("Danske Markets") and UBS Limited ("UBS Investment Bank") are acting for Finnair and for no-one else in connection with the potential share offering and will not be responsible to anyone other than Finnair for providing the protections afforded to the respective clients of Danske Markets or UBS Investment Bank nor for providing any advice in relation to the potential share offering. |
|||
|