YIT - Company Announcement

YIT Corporation’s demerger registered with the Finnish Trade Register

Helsinki, Finland, 2013-07-01 08:00 CEST (GLOBE NEWSWIRE) -- 
YIT CORPORATION   STOCK EXCHANGE RELEASE        1 July 2013 at 9:00 a.m.



YIT CORPORATION'S DEMERGER REGISTERED WITH THE FINNISH TRADE REGISTER



The implementation of the partial demerger decided upon by the extraordinary
general meeting of YIT Corporation (“YIT”) on 17 June 2013 has been registered
with the Finnish Trade Register yesterday on 30 June 2013. 



President & CEO Kari Kauniskangas: Thanks to our professional personnel - let
us wish all the best for Caverion in the future 



“The demerger process was completed at a record pace, and I wish to thank our
professional personnel for a job well done. Now we can focus on implementing
our strategy which was ratified at the beginning of June. We wish all the best
for Caverion. We will continue working together - also in the future.” 



The Extraordinary General Meeting of YIT decided on 17 June 2013 to approve the
partial demerger 



The Extraordinary General Meeting of YIT decided on 17 June 2013 to approve the
partial demerger in accordance with the demerger plan signed by YIT's Board of
Directors on 21 February 2013. According to the demerger plan YIT demerged so
that all of the assets and liabilities related to YIT's Building Systems
business were transferred to a company to be established in the demerger named
Caverion Corporation (“Caverion”). YIT's Construction Services business
remained with YIT in the demerger. Following the implementation of the
demerger, Caverion Corporation is an independent public limited company,
separate from YIT Corporation. 



In connection with the registration of the implementation of the demerger,
section 2 of the Articles of Association of YIT concerning the objects of the
company has been amended in the form described in the demerger plan signed by
YIT's Board of Directors on 21 February 2013 by removing references to the
activities transferred to Caverion. In addition, Ari Lehtoranta and Michael
Rosenlew, who acted as members of the Board prior to the registration of the
implementation of the demerger have resigned from YIT's Board of Directors as
of the implementation of the demerger. Thus, the composition of YIT's Board of
Directors as of 1 July 2013 is as follows: Henrik Ehrnrooth as Chairman, Reino
Hanhinen as Vice Chairman and Kim Gran, Satu Huber and Erkki Järvinen as
members. As of 1 July 2013, Kari Kauniskangas will act as YIT's President and
CEO and Tero Kiviniemi as his deputy. 



YIT's shareholders have received Caverion shares as demerger consideration



YIT's shareholders have received as demerger consideration one (1) share in
Caverion for each share owned in YIT. No demerger consideration was distributed
to any treasury shares held by YIT. Thus, the number of shares given as
demerger consideration was 125,596,092. The implementation of the demerger does
not have effects on the listing of YIT shares on NASDAQ OMX Helsinki Ltd. 



The registration document according to the Finnish Securities Markets Act,
which includes information on Caverion and its business and financial position,
as well as the securities note and summary (together with the registration
document the “Prospectus”) related to the partial demerger disclosed by YIT on
5 February 2013 and the shares to be given as demerger consideration in
connection with the partial demerger, have been available as of 5 June 2013 on
YIT's website at www.yit.fi/sijoittajat. The unofficial English translation of
the Prospectus has been available as of 5 June 2013 on YIT's website at
www.yitgroup.com/investors. The Prospectus has been supplemented by a
supplement document dated 26 June 2013, which has been available as a part of
the Prospectus as of 27 June 2013 in the above mentioned addresses. 



Helsinki, 1 July 2013

YIT Corporation

Board of Directors



For further information, please contact:

Hanna-Maria Heikkinen, Vice President, Investor Relations, YIT Corporation,
tel. +358 20 433 2635, hanna-maria.heikkinen@yit.fi 



Distribution:

NASDAQ OMX Helsinki

Major media

www.yitgroup.com



YIT leads the way in construction field by creating more attractive and
sustainable urban environments in Finland, Russia, the Baltic countries, the
Czech Republic and Slovakia. YIT builds housing, business premises and
infrastructure, develops entire areas, and offers residential service concepts
for consumers. YIT has over 100 years of experience and a strong market
position: it is the largest residential construction company in Finland and the
most significant foreign residential construction company in Russia. YIT is
also one of the largest business premises and infrastructure construction
companies in Finland. YIT has more than 6,000 employees in seven countries. In
2012, the company's revenue was approximately EUR 2.0 billion. YIT's shares are
listed on NASDAQ OMX Helsinki. www.yitgroup.com 



DISCLAIMER

This announcement is not an offer of securities for sale in any jurisdiction.
No securities are being registered under the US Securities Act of 1933 and may
not be offered or sold in the United States absent registration or an exemption
from registration.  No public offering of securities is being made in the
United States. 

This release includes forward-looking statements. These forward-looking
statements include, but are not limited to, all statements other than
statements of historical facts contained in this communication, including,
without limitation, those regarding the demerger plan and its execution. By
their nature, forward looking statements involve known and unknown risks,
uncertainties and other factors because they relate to events and depend on
circumstances that may or may not occur in the future. Such statements are
based on numerous assumptions and may differ materially from (and be
significantly more negative than) those made in, or suggested by, the
forward-looking statements contained in this release.