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The availability of the information and documents presented on the following website has been restricted due to regulatory reasons. You are required to read the following paragraphs and make the requested confirmation in order to obtain access to the information and documents.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR TO THE UNITED STATES, AUSTRALIA, SOUTH AFRICA, HONG KONG, JAPAN, CANADA, SINGAPORE, NEW ZEALAND OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
The information and documents contained on the following website are not intended for, and must not be accessed by, or the information and documents be distributed or disseminated, to persons who are residents of or physically present in the United States, Australia, South Africa, Hong Kong, Japan, Canada, Singapore, New Zealand or any other jurisdiction in which the publication, distribution or dissemination of this material would be unlawful. The following website and the information and documents contained therein do not constitute an offer to sell or a solicitation of an offer to buy or acquire any shares, rights or other securities of Raute Corporation (the “Company”) in the United States or any other jurisdiction in which it would be unlawful.
These materials are not an offer for sale of shares, rights or other securities of the Company in the United States. The shares, rights or other securities of the Company referred to on this website have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration thereunder.
The release, publication or distribution of the information and documents contained on the following website may be restricted in certain jurisdictions, and only certain categories of persons may be authorised to access the information and documents contained on the website. Persons residing outside the United States, Australia, South Africa, Hong Kong, Japan, Canada, Singapore and New Zealand who wish to obtain an access to the information and documents on the website herein should first ensure that they are not subject to such local laws or regulations that would prohibit or restrict the access to the website or which would require a registration or approval to be obtained for any acquisition of securities by these persons. The Company shall not assume any responsibility for the violations of law or regulation by any such person.
The following website and the information and documents therein may be distributed to and are directed solely at persons who are (i) outside the United Kingdom; or (ii) investment professionals falling within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (iii) high net worth entities, and other persons to whom the website and the information and documents presented therein may be lawfully distributed to in accordance with Article 49(2) of the Order (all such persons together being referred to as “Relevant Person”). Any investment activity in connection with the following website or the information and documents therein is only directed at the Relevant Persons, and any invitation, offer or agreement to subscribe, buy or in in any other manner to acquire the said securities will only be made to the Relevant Persons. Any person who is not a Relevant Person should not act on the basis of, or rely on, the following website or the information or documents contained therein.
The Company has not authorized any offer to the public of securities in any Member State of the European Economic Area other than Finland. With respect to any other member states of the European Economic Area (the “EEA“) than Finland, which have implemented Regulation (EU) 2017/1129 of the European Parliament and of the Council (the “Prospectus Regulation“) (each, a “Relevant Member State“), no action has been undertaken or will be undertaken to make an offer to the public of securities requiring a publication of a prospectus in any Relevant Member State. As a result, the securities may only be offered in Relevant Member States (a) to any legal entity, which fulfils the requirements of a Qualified Investor as defined in the Prospectus Regulation; or (b) in any other circumstances falling within Article 1(4) of the Prospectus Regulation, where such offer is permitted. In member states other than Finland, this portion of the website is directed only at persons in member states of the EEA who are Qualified Investors within the meaning of Article 2(e) of the Prospectus Regulation.
By clicking on the link below, I confirm that (i) I have read and understood all of the restrictions set forth above and that I agree to comply with these restrictions and (ii) that my country of residence and current location is not the United States, Australia, South Africa, Hong Kong, Japan, Canada, Singapore, New Zealand or in any other jurisdiction within which the release, publication and distribution of the information and documents contained on the following website would be unlawful.
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers’ efficient consumption of natural resources.
Raute offers comprehensive production solutions made up of services and machinery to its customers for the different stages of the investment lifecycle. The company’s strengths are:
Raute will arrange a share offering, offering a maximum total of 1,020,446 new shares in the company for subscription based on the shareholders’ pre-emptive subscription right. The subscription period for the offered shares will begin on May 30, 2023, at 9:30a.m. EEST and end on June 13, 2023, at 4:30 p.m. EEST.
In the offering, one (1) Raute share entitles the shareholder to one (1) subscription right. Five (5) subscription rights entitle the shareholder to subscribe for one (1) share offered in the offering. The subscription price of the shares is EUR 7.35 per offered share.
Shareholders that on the record date of the offering, May 25, 2023, are registered in the company’s shareholders’ register maintained by Euroclear Finland or, in case of nominee-registered shares, a shareholder on whose behalf the shares are registered in the company’s shareholders’ register maintained by Euroclear Finland on the record date of the offering, automatically receive one (1) subscription right for each existing Raute share held on the record date.
The offered shares cannot be subscribed for in part, and an individual subscription right cannot be used partially for subscription.
Certain Raute shareholders and some of the company’s executives and private investors have made an irrevocable commitment to subscribe for a total of approximately EUR 3.7 million in shares issued in the offering. These commitments correspond to approximately 49 percent of the offered shares.
“We already started the implementation of our development program in 2022 to improve our competitiveness and productivity by reducing our annual costs by approximately EUR 4–5 million and to enhance Raute’s margins. We achieved a positive comparable EBITDA already in H2 2022 as well as in Q1 2023, which proves that Raute is moving in the right direction to improve its profitability.
As a result of the exit from Russia, our strategic focus has shifted more strongly to North America, Latin America and the EMEA region, meaning Europe, the Middle East and Africa. Besides strengthening the company’s capital structure, the objective of the rights offering is to support our organic and inorganic growth paths in these regions.
In my view, combined with the financial arrangements carried out this year and the ongoing restructuring measures, the offering provides us with a good basis to implement our strategy and achieve our targets.
I welcome you to join us in building sustainable solutions for the wood product industry and to invest in Raute!”
If you are a Raute shareholder:
If you do not use your subscription rights to subscribe for shares or sell your subscription rights, the subscription rights will expire and lose their value after the end of the subscription period.If you are not a Raute shareholder yet:
Please note: The subscription places and account operators may require making a subscription order on a certain date even before the trading with the subscription rights ends.
|Last trading day of the shares with a right to subscription rights||May 23, 2023|
|Ex-date of the subscription rights||May 24, 2023|
|Record date of the offering||May 25, 2023|
|Subscription rights are registered on shareholders’ book-entry accounts||May 26, 2023|
|Subscription period for the offered shares commences||May 30, 2023|
|Trading with subscription rights commences on Nasdaq Helsinki||May 30, 2023|
|Trading with subscription rights ends on Nasdaq Helsinki||June 7, 2023|
|Subscription period for the offered shares ends||June 13, 2023|
|Unused subscription rights expire||June 13, 2023|
|Trading with interim shares corresponding to subscribed offered shares commences on Nasdaq Helsinki (on or about)||June 14, 2023|
|Offered shares are registered in the Finnish Trade Register and interim shares are combined with the company’s existing shares (on or about)||June 20, 2023|
|Trading with the offered shares as shares of the same share class as the existing shares commences on Nasdaq Helsinki (on or about)||June 21, 2023|
* The above dates may not be final. There may be changes to the dates if, for example, the subscription period is extended or the new shares that were subscribed for in the offering cannot be registered in the Finnish Trade Register within the projected schedule.
Prospectus (in Finnish)
Marketing brochure (in Finnish)
Investor presentation (in Finnish)
Terms and conditions of the offering
Correction to the existing number of shares stated on page 29 of Raute Corporation's Finnish language prospectus
Materials referred to in the prospectus:
Interim Report 1 January – 31 March 2023
Interim Report 1 January – 31 March 2022
Financial Statements 1 January – 31 December 2022
Financial Statements 1 January – 31 December 2021
May 23, 2023
Raute publishes prospectus on rights offering and listing of shares
May 22, 2023
Raute's Board of Directors has made a decision on a rights offering and filed a listing application to list shares and subscription rights