Terms and Conditions of Access to the Website
BEFORE ENTERING THIS WEBSITE, PLEASE READ CAREFULLY THE FOLLOWING IMPORTANT TERMS AND CONDITIONS THAT GOVERN YOUR ACCESS TO, AND USE OF, THIS WEBSITE, AND ACKNOWLEDGE YOUR AGREEMENT TO THEM. IF YOU AGREE TO THE TERMS, CLICK 'I AGREE' AT THE END OF THIS DOCUMENT TO ENTER THIS WEBSITE. IF YOU CLICK 'I DO NOT AGREE' YOU WILL NOT BE ABLE TO ENTER THIS WEBSITE.
Access and use of this website (the Website) is conditional upon agreement to and compliance with these terms and conditions of access to the website (the Terms and Conditions).
You (the Client) acknowledge and agree to the Terms and Conditions and agree not to undertake any act or omission that would constitute a breach of these Terms and Conditions.
Access to and use of the Website
The materials on the Website are directed, in the UK and in other EEA countries, to persons regarded as market counterparties and intermediate customers and not to private customers (as defined by the rules of the U.K. Financial Conduct Authority), who should not rely on the Website. Moreover, any investment or services to which the Website may relate will not be made available to such private customers. The materials on the Website are intended for use by authorised users only and may not be published, copied or distributed to any other person.
Nothing in the Website is, or is to be construed as, an offer of or invitation to subscribe for, underwrite or purchase securities in any jurisdictions in which such offer is or may be prohibited, restricted or subject to any requirement for filing, authorisation, licence or consent.
The Client agrees that it has not made and will not make any offer of securities referred to on the Website (the Securities) other than in accordance with applicable law and regulation.
Nothing in the Website constitutes an offer of securities for sale in the United States. The Securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act of 1933, as amended (the Securities Act). It is not intended that the Securities will be registered under the Securities Act or any U.S. state securities laws.
The Client will use the Website solely for its own internal use in accordance with these Terms and Conditions.
The Client will not engage in any activities related to the Website that are contrary to applicable law or regulation or the terms of any agreements between the Client and the Elenia Group.
The Website may contain other proprietary notices and copyright information, the terms of which must be observed and followed.
Acknowledgements and Disclaimers
The Client acknowledges and agrees to the following:
No duty to update or correct materials. The materials included on the Website are historical in nature and only current as of the date of the materials. Neither the Elenia Group nor any other party has any duty to maintain or update any material on the Website. Historic performance information with regard to any security is no indication of its future performance.
Changes to materials. The Elenia Group may remove or make changes to the materials available on the Website at any time.
Third party materials. Information on the Website may be sourced from third parties (the Third Party Materials), including (without limitation) offering circulars, prospectuses, listing particulars, pricing supplements, reports, agreements, summaries, models, commentary and other materials, has been obtained from sources believed to be reliable, but the Elenia Group does not warrant its completeness or accuracy. The Elenia Group has no obligations in respect of Third Party Materials (including as to verifying or correcting Third Party Materials or publishing materials relating to Third Party Materials). Posting Third Party Materials on the Website does not imply any endorsement, adoption of or responsibility by the Elenia Group for the opinions, ideas, products, information or services offered therein, or any representation regarding the content of any Third Party Materials.
Offering documents and research reports. Any final offering memoranda or other offering materials (each, an Offering Document) or research reports posted on the Website are Third Party Materials unless produced by the Elenia Group. Third Party Materials are provided solely for the Client's convenience to generally describe the terms of the transaction described therein.
The Client should not assume that the information contained or incorporated by reference in any Offering Document or research report is accurate as of any date other than the respective date set forth therein or the date of the information incorporated therein.
Offering Documents, research reports and other information contained in the Website may not be distributed (whether in whole or in part) to or used by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation.
Disclaimer of Advice. Except as otherwise expressly stated, the Website does not purport to provide any financial, investment, tax, accounting or legal advice or recommendation.
Click Through. Any acknowledgment, agreement or other type of click through button on the Website that is selected to evidence agreement or an acknowledgement shall have the same force and validity as a paper copy of an agreement that has been manually signed and delivered.
Discontinuance and disruption of service. The Elenia Group or its suppliers may discontinue the Website at any time.
Rule 144A. The Client is not a 'U.S. person' (as that term is defined in Regulation S under the Securities Act) and is not in the United States (as that term is defined in Regulation S under the Securities Act).
Unauthorised Use
Unauthorised use of the Website including but not limited to unauthorised entry into such entities' systems, or misuse of any information posted to the Website, is strictly prohibited.
Limitation of Liability
The Elenia Group and third party data providers are not responsible for any errors in or omissions from the information contained in or accessed through the Website (including all information, tools and materials contained on the Website).
The Website may contain statements that constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the use of forward-looking terminology, such as the words 'believes', 'expects', 'may', 'intends', 'should' or 'anticipates', or the negative or other variations of those terms. These statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results and performance of the Securities, the Elenia Group and/or any of its subsidiaries or affiliates to differ materially from any future results or performance expressed or implied in the forward-looking statements. These risks, uncertainties and other factors include, among others: general economic and business conditions in the United Kingdom; currency exchange and interest rate fluctuations; government, statutory, regulatory or administrative initiatives affecting the Elenia Group and/or any of its subsidiaries or affiliates; changes in business strategy or customer relationships; and other factors that may be referred to in the Website.
Except as may be otherwise expressly provided by written agreement between the Elenia Group and the user, the Elenia Group will have no tort, contract or any other liability to the Client or any third party arising in connection with the use of the Website, or reliance on any information or services provided in this Website.
The Elenia Group will under no circumstances be liable to the Client or any third party, regardless of the form of action, for any lost profits or lost opportunity, or any indirect, special, consequential, incidental or punitive damages whatsoever, even if the Elenia Group has been advised of the possibility of such loss or damages.
Nothing in this clause shall limit or exclude liability of the Elenia Group:
(i) for personal injury arising from negligence;
(ii) for fraud, gross negligence or wilful default; or
(iii) for damages that may not be limited or excluded under applicable law and regulation.
The parties agree that the limitations and exclusions set out in this clause are reasonable having regard to all the relevant circumstances and the levels of risk associated with each party's obligations under these Terms and Conditions.
Governing Law
These Terms and Conditions and any non contractual obligations arising out of or in conjunction with it, will be governed by, and construed in accordance with, the laws of Finland.
The Finnish courts will have exclusive jurisdiction to settle any disputes which may arise in connection with these Terms and Conditions.
Elenia Group's annual report for 2015 has been published. The annual report includes description of the main activities and the development in year 2015 and consolidated financial statements.
The annual report and financial statements are available on the company's website at:
http://www.elenia.com/en/investors/financial-reports
More information:
Elenia Oy
Tommi Valento
CFO
+358 40 7208951
Elenia Finance Oyj, a fully owned subsidiary of Elenia Oy, has issued €50,000,000 in principal amount of 2.641% Fixed Rate Bonds due January 2031. The bonds are issued under a multicurrency bond programme and are listed on the London Stock Exchange.
Elenia Oy is the second largest electricity distribution network operator in Finland with operations in more than 100 cities and municipalities and approximately 67 000 km of distribution network. In 2014, total electricity distribution volume was 6112GWh.
Elenia´s planned network investments will increase to EUR 115 million this year. The investments are made in all operational areas of Elenia including Häme, Pirkanmaa, Central Finland as well as Southern and Northern Ostrobothnia.
Elenia’s long-term investment programme improves the security of supply and local employment within Elenia’s network area. Elenia constructs this year around 2,500 kilometers of weatherproof electricity network. The underground cabling is carried out by Elenia’s wide group of contractor partners in all provinces of the network area.
The ultimate shareholders of Lakeside Network Investments S.a. r.l. have informed Elenia Finance Oyj that they have commenced a strategic review of their interests in Lakeside Network Investments S.a r.l. and its associated subsidiaries (the Elenia Group). Elenia Finance Oyj does not anticipate that this strategic review will have any material impact on the customers, employees or business operations of the Elenia Group.
Elenia Palvelut Oy’s agreement with Vattenfall Oy on the provision of transitional customer services will expire in January 2016. Elenia Palvelut Oy initiated employee cooperation negotiations on 19 October 2015 in order to adapt its customer services operations to the changing circumstances. The negotiations were concluded on 1 December 2015.
Elenia Palvelut Oy has decided to centralize its operations to Tampere during the first half of 2016 and to close down its operations in Helsinki which will result in the reduction of 33 full time employees in Helsinki.
Elenia is planning to centralize its customer services operations to Tampere. At the moment, Elenia’s customer services are located both in Tampere and Helsinki.
Elenia Palvelut Oy provides customer services to Elenia group and Vattenfall. The customer services provided to Vattenfall are based on a transitional services agreement which was made for a fixed period of time in connection with the sale of Vattenfall’s Finnish electricity distribution and district heating operations to Elenia in January 2012. The transitional services agreement with Vattenfall expires in January 2016.
Elenia Finance Oyj, a fully owned subsidiary of Elenia Oy, has issued and sold 2.684% fixed-rate guaranteed secured senior notes in the total principal amount of EUR 75,000,000 due in August 2030 through a private placement to an institutional investor in the United States.
M.Sc. (Econ), LL.M. Tommi Valento has been appointed Chief Financial Officer of Elenia Oy and director of Elenia Finance Oyj effective as of 1 August 2015.
Previously Tommi Valento has worked for Pohjolan Voima Oy as Group Treasurer, for KPMG Oy Ab as Head of Debt Advisory and within banking industry at Kaupthing Bank and Pohjola Bank.
M.Sc. (Eng.) Electrical Engineering, Jorma Myllymäki, Chief Operating Officer at Elenia Oy, has been appointed director of Elenia Oy effective as of 1 July 2015.