SSAB has announced, that SSAB to commence a compulsory redemption proceeding in respect of remaining Rautaruukki shares; price to be offered EUR 11.24 per share in cash

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Rautaruukki Corporation Stock exchange release July 29 2014 at 15.35pm EEST

SSAB has announced, that SSAB to commence a compulsory redemption proceeding in respect of remaining Rautaruukki shares; price to be offered EUR 11.24 per share in cash

SSAB AB (publ) ("SSAB") announced earlier today that it will complete the share exchange offer to Rautaruukki Corporation's ("Rautaruukki") shareholders.

In accordance with the terms and conditions of the share exchange offer, title to 95.1 percent of Rautaruukki's shares and votes has now transferred to SSAB. As a result, SSAB has today informed Rautaruukki that the redemption right and obligation under the Finnish Companies Act in respect of the Rautaruukki shares held by minority shareholders has arisen.

SSAB intends to initiate arbitral proceedings as provided in the Finnish Companies Act as soon as possible to complete the compulsory redemption of the shares in Rautaruukki held by minority shareholders. In such compulsory redemption proceeding, SSAB will offer EUR 11.24 in cash for each Rautaruukki share, which corresponds to the market value in euro of SSAB's class A and class B shares offered as consideration for Rautaruukki shares in the share exchange offer on July 22, 2014, the final day of the offer period.

For further information, please contact:
Andreas Koch, Head of Investor Relations, [e-mail], [phone]

This information is published by SSAB pursuant to the requirements of the Finnish Securities Market Act and the Swedish Securities Market Act.

Taina Kyllönen
SVP, Marketing and Communications

Ruukki specialises in steel and steel construction. We provide customers with energy-efficient steel solutions for better living, working and moving. We have around 8,600 employees and an extensive distribution and dealer network across some 30 countries including the Nordic countries, Russia and elsewhere in Europe and the emerging markets, such as India, China and South America. Net sales in 2013 totalled €2.4 billion. The company's share is quoted on NASDAQ OMX Helsinki (Rautaruukki Oyj: RTRKS). www.ruukki.com