Trading in Caverion Corporation’s shares at Helsinki Stock Exchange (NASDAQ OMX Helsinki Ltd) begins today, July 1, 2013, at 10:00 a.m. Finnish time. The trading code of the shares is CAV1V. In connection with YIT’s demerger, YIT Corporation’s shareholders received as demerger consideration one (1) Caverion share for each YIT share owned. Consequently, at the beginning of trading Caverion has approximately 38,000 shareholders, and the number of shares subject to public trading is 125,596,092.
Caverion Corporation was established through the partial demerger of YIT Corporation on June 30, 2013 when YIT’s Building Services and Industrial Services operations were transferred to an independent company. Caverion designs, builds and maintains user-friendly and energy-efficient building systems and offers industrial services. Its strengths include technological competence that covers all building systems throughout the life cycle of the property. In 2012, Caverion’s revenue amounted to approximately EUR 2.8 billion. The company has over 18,000 employees in 13 countries in Northern and Central Europe.
Juhani Pitkäkoski, Caverion’s President and CEO:
“Caverion is a new company but we have a long history behind us. As an independent company, we can focus more fully on our core competence, and we have a better opportunity to become the leading provider of building systems in Europe. In addition, we have a unique chance to develop new type of business and service culture. We are pursuing not only a greater market share but also the position as the most efficient and innovative company of our industry. The favourable outlook in service and maintenance, our position as a technological forerunner and, in particular, the extensive growth potential in the German-speaking region provide a good starting point for the new company. We have a wide shareholder base, and we believe that the clearer business structure will create preconditions for increase in shareholder value, too.”
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 February 5, 2013 and the shares to be given as demerger consideration in connection with the partial demerger, have been available as of June 5, 2013 on YIT’s website at www.yit.fi/sijoittajat. The unofficial English translation of the Prospectus has been available as of June 5, 2013 on YIT’s website at www.yitgroup.com/investors. The Prospectus has been supplemented by a supplement document dated on June 26, 2013, which has been available as a part of the Prospectus as of June 27, 2013 in the above mentioned addresses.
For further information, please contact:
Juhani Pitkäkoski, President and CEO, Caverion Corporation, tel. +358 50 409 1244, firstname.lastname@example.org
Milena Hæggström, Head of Investor Relations, tel. +358 40 5581 328, email@example.com
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.