BlackRock's indirect shareholding in UPM has gone below the threshold of 5 per cent
UPM-Kymmene Corporation Stock Exchange Release (Flagging Release) 23 March 2020 at 09:30 EET
BlackRock's indirect shareholding in UPM has gone below the threshold of 5 per cent
UPM-Kymmene Corporation has on 20 March 2020 received an announcement under Chapter 9, Section 5 of the Securities Markets Act, according to which BlackRock, Inc.'s indirect shareholding of UPM shares and voting rights has gone below the threshold of 5 per cent on 19 March 2020.
According to the announcement, BlackRock, Inc.’s indirect shareholding in UPM has decreased to 26,393,826 shares, corresponding to 4.94 per cent of UPM shares and voting rights. The total number of UPM shares and voting rights owned directly or through financial instruments by BlackRock, Inc. and its funds was 5.23 per cent on 19 March 2020. UPM's registered total number of shares and voting rights amounting to 533,735,699 has been used in the calculation of percentages for the announcement.
Total positions of BlackRock, Inc. and its funds:
| % of shares and voting rights (total of A) | % of shares and voting rights through financial instruments (total of B) | Total of both in % (A + B) | |
| Resulting situation on the date on which threshold was crossed or reached | 4.94% | 0.28% | 5.23% |
| Position of previous notification (if applicable) | 5.00% | 0.20% | 5.21% |
Notified details of the resulting situation on the date on which the threshold was crossed or reached:
A: Shares and voting rights
| Class/type of shares | Number of shares and voting rights | Number of shares and voting rights | % of shares and voting rights | % of shares and voting rights |
| ISIN code (if possible) | Direct (SMA 9:5) | Indirect (SMA 9:6 and 9:7) | Direct (SMA 9:5) | Indirect (SMA 9:6 and 9:7) |
| FI0009005987 | 26,393,826 | 4.94% | ||
| SUBTOTAL A | 26,393,826 | 4.94% |
B: Financial Instruments according to SMA 9:6a
| Type of financial instrument | Expiration date | Exercise/Conversion period | Physical or cash settlement | Number of shares and voting rights | % of shares and voting rights |
| Securities Lent | N/A | N/A | Physical | 1,249,607 | 0.23% |
| CFD | N/A | N/A | Cash | 287,886 | 0.05% |
| SUBTOTAL B | 1,537,493 | 0.28% |
Full chain of controlled undertakings through which the voting rights and financial instruments are effectively held:
| Name | % of shares and voting rights | % of shares and voting rights through financial instruments | Total of both |
| BlackRock Japan Co., Ltd. | Below 5% | ||
| BlackRock Investment Management, LLC | Below 5% | ||
| BlackRock Investment Management (UK) Limited | Below 5% | ||
| BlackRock Investment Management (Australia) Limited | Below 5% | ||
| BlackRock International Limited | Below 5% | ||
| BlackRock Institutional Trust Company, National Association | Below 5% | ||
| BlackRock Fund Advisors | Below 5% | ||
| BlackRock Financial Management, Inc. | Below 5% | ||
| BlackRock Asset Management North Asia Limited | Below 5% | ||
| BlackRock Asset Management Deutschland AG | Below 5% | ||
| BlackRock Asset Management Canada Limited | Below 5% | ||
| BlackRock Advisors, LLC | Below 5% | ||
| BlackRock Advisors (UK) Limited | Below 5% | ||
| BlackRock (Singapore) Limited | Below 5% | ||
| BlackRock (Netherlands) B.V. | Below 5% |
UPM-Kymmene Corporation
Pirkko Harrela
Executive Vice President, Stakeholder Relations
UPM, Media Relations
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UPM
We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. As the industry leader in responsibility we are committed to the UN Business Ambition for 1.5°C and the science-based targets to mitigate climate change. We employ 18,700 people worldwide and our annual sales are approximately EUR 10.2 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore – Beyond fossils.
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