Important Notice The Depository Trust Company - DTCC
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Important Notice
The Depository Trust Company
B #: 12223-19
Date: October 29, 2019
To: All Participants
Category: Dividends
From: International Services
Attention: Operations, Reorg & Dividend Managers, Partners & Cashiers
Tax Relief – Country: Finland
Security: METSO CUSIP: 592671101
Subject: Record Date: 10/29/2019 Payable Date: 11/15/2019
Quick Refund CA Web Cut-Off: 11/12/2019 8:00 PM ET
Participants can use DTC’s Corporate Actions Web (CA Web) service to certify all or a portion of their
position entitled to the applicable withholding tax rate. Participants are urged to consult TaxInfo
respectively before certifying their instructions over the CA Web.
Important: Prior to certifying tax withholding instructions, participants are urged to read, understand and
comply with the information in the Legal Conditions category found on TaxInfo on the CA Web.
Questions regarding this Important Notice may be directed to Goal Global Recoveries Inc. (212) 284
9130.
*****TIME SENSITIVE PARTICIPANT ACTION REQUIRED*****
PARTICIPANTS MUST REFER TO THE FOLLOWING PAGE FOR REQUIRED ACTION
TO REGISTER AND SUBMIT TAX FORMS VIA GOAL GLOBAL RECOVERIES INC.
Important Legal Information: The Depository Trust Company (“DTC”) does not represent or warrant the accuracy, adequacy,
timeliness, completeness or fitness for any particular purpose of the information contained in this communication, which is based in part on
information obtained from third parties and not independently verified by DTC and which is provided as is. The information contained in
this communication is not intended to be a substitute for obtaining tax advice from an appropriate professional advisor. In providing this
communication, DTC shall not be liable for (1) any loss resulting directly or indirectly from mistakes, errors, omissions, interruptions,
delays or defects in such communication, unless caused directly by gross negligence or willful misconduct on the part of DTC, and (2) any
special, consequential, exemplary, incidental or punitive damages.
To ensure compliance with Internal Revenue Service Circular 230, you are hereby notified that: (a) any discussion of federal tax issues
contained or referred to herein is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties that may be
imposed under the Internal Revenue Code; and (b) as a matter of policy, DTC does not provide tax, legal or accounting advice and
accordingly, you should consult your own tax, legal and accounting advisor before engaging in any transaction.
DTCC offers enhanced access to all important notices via a Web-based subscription service.
The notification system leverages RSS Newsfeeds, providing significant benefits including
real-time updates and customizable delivery. To learn more and to set up your own DTCC RSS
alerts, visit http://www.dtcc.com/subscription_form.php. Non-ConfidentialBNY Mellon, as DR depositary gives notice with respect to an upcoming cash dividend payment for METSO. DR holders of Metso as at
DR Record Date are eligible to receive the dividend payment and may be entitled to a reduced rate of withholding tax as described in
the below notice. Qualifying shareholders who reside in a country where a Double Taxation Agreement exists between their country
of residence and Finland may apply for a refund by either the Quick Refund method or Long Form Reclaim process.
BNY Mellon has appointed Goal Global Recoveries Inc. (as tax agent) to support holders of the DR by providing assistance in obtaining
tax relief services.
Participants are able to certify all or a percentage of their total position in accordance with the relevant withholding tax rate through
the DTC Corporate Actions Web (“CA Web”). The CA Web election also requires a submission via ADRoit. This will enable entitlement
amounts to be paid through DTC. As such, eligible U.S. Pensions and U.S. Resident entities will have the opportunity to receive their
full treaty entitlements as outlined in the “Relief at Source Eligibility Matrix”. All non-U.S. holders not qualifying for a reduced or
exempt tax rate through CA Web will receive the dividend payment net of the default Finnish statutory withholding tax rate of 30.00%
with the opportunity to make a reclaim utilizing the Quick Refund method or standard long form process.
Participants utilizing this service agree to the Agreements, Fees, Representations and Indemnification as stated below
DIVIDEND EVENT DETAILS
NAME OF ISSUER METSO
COUNTRY OF ISSUANCE FINLAND
DR PROGRAM TYPE SPONSORED
DEPOSITARY BNY MELLON
CUSIP 592671101
RATIO (DR : ORD) 4 DRs : 1 ORD
DR RECORD DATE 29 OCT 2019
DR PAYMENT DATE 15 NOV 2019
ORD RECORD DATE 29 OCT 2019
ORD PAYMENT DATE 05 NOV 2019
DR GROSS DIVIDEND RATE USD 0.166065 (Approximate)
STATUTORY WITHHOLDING TAX RATE 30%
QUICK REFUND
METHODS OF RECLAIM FILING AVAILABLE
LONG FORM RECLAIM
QUICK REFUND
CA WEB OPENS FOR ELECTIONS 30 OCT 2019 – 6:00 AM (EST)
CA WEB DEADLINE FOR ELECTIONS 12 NOV 2019 – 8:00 PM (EST)
GOAL ADRoit OPENS FOR ELECTIONS 30 OCT 2019 – 6:00 AM (EST)
GOAL ADRoit DEADLINE FOR ELECTIONS 12 NOV 2019 – 8:00 PM (EST)
LONG FORM RECLAIM
GOAL ADRoit OPENS FOR ELECTIONS 13 NOV 2019 – 9:00 AM (EST)
GOAL ADRoit DEADLINE FOR ELECTIONS 30 SEP 2022 – 8:00 PM (EST)
1DOCUMENTATION SUBMISSION DEADLINES
QUICK REFUND 12 NOV 2019 – 8:00 PM (EST)
LONG FORM RECLAIM 30 SEP 2022 – 8:00 PM (EST)
FEE SCHEDULE AND PAYMENT METHOD
FILING METHOD PAYMENT METHOD TAX RELIEF FEE MINIMUM FEE PER BENEFICIAL OWNER
QUICK REFUND DTC UP TO $0.0075 PER DR $0.00
LONG FORM RECLAIM ACH UP TO $0.0075 PER DR $25 / BENEFICIAL OWNER
Agreements, Fees, Representations and Indemnification from Participants and Beneficial Owners
This tax relief assistance service is wholly voluntary and discretionary, and outside the terms and conditions of any applicable deposit agreement.
BNY Mellon undertakes no duty or obligation to provide this service, and may reject or decline any or all proposed electing participants or holders
in its sole discretion. We hereby accept and agree to pay the fees of BNY Mellon of up to $0.0075 per Depositary Receipt for Quick Refund, or up to
$0.01 per Depositary Receipt for Long Form (with a minimum of $25) and any other charges, fees or expenses payable by or due to BNY Mellon or
its agents, including any custodian, in connection with the tax reclaim process, or to tax authorities or regulators (which fees, charges or expenses
may be deducted from the dividend or any other distribution or by billing or otherwise in BNY Mellon’s discretion). We hereby agree that any such
fees, charges or expenses may be due and payable whether or not a successful reduction in rate or reclamation is obtained. We hereby
acknowledge that fees paid to BNY Mellon may be shared with its agents and affiliates.
We hereby agree in addition to statutory and documentation requirements, and the deduction of fees, tax relief benefits will be subject to review
and approval, and potential audits by the applicable custodian and applicable tax regulators, and that BNY Mellon is not providing any legal, tax,
accounting or other professional advice on these matters and has expressly disclaimed any liability whatsoever for any loss howsoever arising from
or in reliance hereto. Participants and/or investors should seek advice based upon their own particular circumstances from an independent tax
advisor.
We certify to the best of our knowledge that each of the beneficial owners identified are eligible for the preferential rates as stated and we declare
that we have performed all the necessary due diligence to satisfy ourselves as to the accuracy of the information submitted to us by these
beneficial owners. Furthermore, in the event of an audit we agree to provide any and all documentation required by the respective Tax Authority.
We will be fully liable for any and all claims, penalties and / or interest, including without limitation, any foreign exchange fluctuations associated
therewith. BNY Mellon shall not be liable for the failure to secure any tax relief. We expressly agree that BNY Mellon and its agents or affiliates shall
not have any liability for, and we shall indemnify, defend and hold each of BNY Mellon and its agents and affiliates harmless from and against, any
and all loss, liability, damage, judgment, settlement, fine, penalty, demand, claim, cost or expense (including without limitation fees and expenses
of defending itself or enforcing this agreement) arising out of or in connection herewith.
2ELIGIBILITY MATRIX – QUICK REFUND/LONG FORM RECLAIM
RECLAIM
RATE DESCRIPTION ELIGIBLE RESIDENTS DOCUMENTATION REQUIRED
RATE
UNFAVORABLE – 30% 0% NON-TREATY COUNTRIES NONE
COVER LETTER
U.S. PENSIONS UNDER VEROH 6163e (NON-INDVIDUALS)
EXEMPT U.S. – 0% 30% IRS SECTIONS 401 (a), 501 (a) VEROH 6164 (INDIVIDUALS)
SPAIN PENSION POWER OF ATTORNEY
ORIGINAL IRS FORM 6166
FRANCE, IRELAND, MEXICO, UNITED ARAB
EMIRATES, UNITED KINGDOM
COVER LETTER
NETHERLANDS – PENSION FUNDS ONLY VEROH 6163e (NON-INDIVIDUALS)
VEROH 6164e (INDIVIDUALS)
EXEMPT NON-U.S. – 0% 30% SINGAPORE – GOVERNMENT ENTITIES ONLY CERTIFICATE OF DIVIDEND PAYMENT
CORPORATE ENTITIES RESIDENT IN EEA – POWER OF ATTORNEY
ONLY APPLICABLE IF A FULL CREDIT FOR THE ORIGINAL CERTIFICATE OF TAX
FINNISH TAX IN THEIR COUNTRY OF RESIDENCY
RESIDENCE WAS NOT RECEIVED
COVER LETTER
VEROH 6163e (NON-INDIVIDUALS)
VEROH 6164e (INDIVIDUALS)
CERTIFICATE OF DIVIDEND PAYMENT
FAVORABLE – 5% 25% ROMANIA
POWER OF ATTORNEY
ORIGINAL CERTIFICATE OF TAX
RESIDENCY
COVER LETTER
VEROH 6163e (NON-INDIVIDUALS)
AUSTRIA, AZERBAIJAN, BULGARIA, CHINA, VEROH 6164e (INDIVIDUALS)
EGYPT, GEORGIA, HONG KONG, INDIA, CERTIFICATE OF DIVIDEND PAYMENT
FAVORABLE – 10% 20%
MOROCCO, SINGAPORE, SRI LANKA, POWER OF ATTORNEY
SWITZERLAND ORIGINAL CERTIFICATE OF TAX
RESIDENCY
COVER LETTER
VEROH 6163e (NON-INDIVIDUALS)
VEROH 6164e (INDIVIDUALS)
FAVORABLE – 12% 18% RUSSIA CERTIFICATE OF DIVIDEND PAYMENT
POWER OF ATTORNEY
ORIGINAL CERTIFICATE OF TAX
RESIDENCY
COVER LETTER
VEROH 6163e (NON-INDIVIDUALS)
VEROH 6164e (INDIVIDUALS)
CERTIFICATE OF DIVIDEND PAYMENT
FAVORABLE – 13% 17% GREECE
POWER OF ATTORNEY
ORIGINAL CERTIFICATE OF TAX
RESIDENCY
3TAXABLE U.S. RESIDENT ENTITIES
COVER LETTER
(QUICK REFUND)
COVER LETTER
VEROH 6163e (NON-INDIVIDUALS)
TAXABLE U.S. RESIDENT ENTITIES VEROH 6164e (INDIVIDUALS)
(LONG FORM) CERTIFICATE OF DIVIDEND PAYMENT
POWER OF ATTORNEY
ORIGINAL IRS FORM 6166
ARGENTINA, ARMENIA, AUSTRALIA,
BARBADOS, BELARUS, BELGIUM, BOSNIA,
CANADA, CROATIA, CYPRUS, CZECH
FAVORABLE – 15% REPUBLIC, DENMARK, ESTONIA, FAROE
15%
ISLANDS, GERMANY, HERZEGOVINA,
HUNGARY, ICELAND, INDONESIA, ISRAEL,
COVER LETTER
ITALY, JAPAN, KAZAHKSTAN, KOREA
VEROH 6163e (NON-INDIVIDUALS)
(REPUBLIC OF), KOSOVO, KYRGYZSTAN,
VEROH 6164e (INDIVIDUALS)
LATVIA, LITHUANIA, LUXEMBOURG,
CERTIFICATE OF DIVIDEND PAYMENT
MACEDONIA, MALAYSIA, MALTA,
POWER OF ATTORNEY
MOLDOVA, MONTENEGRO, NETHERLANDS,
ORIGINAL CERTIFICATE OF TAX
NEW ZEALAND, NORWAY, POLAND,
RESIDENCY
PORTUGAL, SERBIA, SLOVAK REPUBLIC,
SLOVENIA, SOUTH AFRICA, SPAIN, SWEDEN,
TAJIKISTAN, TURKEY, TURKMENISTAN,
UKRAINE, URUGUAY, UZBEKISTAN,
VIETNAM, ZAMBIA (FINAL QUICK
REFUND/LONG FORM)
COVER LETTER
VEROH 6163e (NON-INDIVIDUALS)
PAKISTAN, TANZANIA,
VEROH 6164e (INDIVIDUALS)
ALL CORPORATE* ENTITIES WHO ARE NOT
FAVORABLE – 20% 10% CERTIFICATE OF DIVIDEND PAYMENT
ELIGIBLE FOR A MORE FAVORABLE RATE
POWER OF ATTORNEY
UNDER A TREATY
ORIGINAL CERTIFICATE OF TAX
RESIDENCY
* CORPORATIONS
Corporations with residence in non-treaty countries may be eligible for a 10% reclaim. These claims can only be filed via the long form process and
will be reviewed by the Finnish Tax Administration on a case by case basis. The following are covered under the “corporate” designation according
to Section 3 of the Finnish Income Tax Act: A Government and its Government Institution, Municipality and Municipality Federation. A Congregation
and other Religious Community, a Limited Liability Company, Cooperation, Savings Bank, Investment Fund, University, Mutual Insurance Company,
a Non-Profit or Economic Association, Foundation and Institution, or a Foreign Death Estate.
4TAX DOCUMENTATION REQUIREMENTS
DOCUMENT
DOCUMENT REQUIRED PURPOSE OF DOCUMENT SIGNATURES INVESTOR TYPES
GENERATION
The Cover Letter notifies the
DTC ALL beneficiaries claiming under
Signed Cover Letter – depositary of the relevant Generated by ADRoit
Participant a Double Taxation Treaty
Appendix A – ORIGINAL details of the claim
The Certificate of Dividend
Payment provides details of the
Gross, Net and Tax deducted All beneficiaries requesting
Appendix B - Certificate DTC
amounts and associated Generated by ADRoit refund by the Long Form Reclaim
of Dividend Payment - Participant
information in relation to the method
ORIGINAL
dividend. It must be completed
on Company Letterhead
Where the DTC Participant is
making the reclaim on behalf of
the Beneficial Owner, two
Powers of Attorney are
required:
1. A Power of Attorney
All beneficiaries requesting
from the Beneficial Beneficial To be provided by the
Appendix C - Power of refund by the Long Form Reclaim
Owner to the DTC Owner Beneficial Owner
Attorney x 2 - COPY method
Participant
2. A Power of Attorney
from the DTC DTC Generated by ADRoit
Participant to BNY Participant
Mellon / Goal Global
Recoveries Inc.
Beneficial
This document confirms the
**Certificate of Tax Owners’ To be provided by the
beneficial owners’ residency for All Non-U.S. residents
Residency (COTR) - Local Tax Beneficial
tax purposes
ORIGINAL Authority
This document confirms the Internal
To be obtained by the
IRS 6166 form - beneficial owners’ residency for Revenue All U. S. residents
Beneficial Owner
ORIGINAL tax purposes Service (IRS)
The Affirmation form confirms
VEROH 6160e - DTC
salient points appertaining to Generated by ADRoit U. S. Pension Funds
ORIGINAL Participant
the establishment of the fund
The Application for Refund form
is presented to the Finnish Tax Beneficial
VEROH 6163e - Authority for refund. It requires owner or Generated by ADRoit ALL Non-Individuals
ORIGINAL an original Certificate of Tax DTC
Residency/US form 6166 to Participant
accompany the document
The Application for Refund form
is presented to the Finnish Tax
Authority for refund. It requires
an original Certificate of Tax Beneficial
VEROH 6164e - Residency/US form 6166 to Owner or
Generated by ADRoit All Individuals
ORIGINAL accompany the document OR in DTC
the case of Non-U.S. residents Participant
the form can be certified at the
Beneficial Owner’s local tax
authority
** CERTIFICATES OF RESIDENCY
A stand-alone Certificate of Residency is required for all Non-Individuals using the form VEROH 6163e. Individual claimants using the form
VEROH 6164e may provide a stand-alone Certificate of Residency or have the form certified (stamped) by the Local Tax Authority.
5Limited Liability Companies (LLC’s)
If the LLC itself is treated as the final beneficial owners of the dividends for taxation purposes, the application should be completed in the name of
the LLC using the form VEROH 6163e. If it is not and the members are regarded as final beneficial owners, they should all reclaim individually using
the form VEROH 6164e.
The Finnish Tax Administration has announced that interest on refunds of tax withheld at source will be applied on non-resident applicants that
are tax residents of EU or EEA countries. They have advised that they will provide more detailed guidance to outline the impact of the court ruling
and the calculation of interest. However, nothing official has been published at this time. Please be aware that additional information may be
required from underlying holders, such as corporate accounting periods.
FINNISH CITIZENSHIP ELIGIBILITY
DUE TO SUPERVISION OF INSIDER TRADING AND TAX REGULATION, FINNISH LEGISLATION DOES NOT ALLOW NOMINEE REGISTRATION OF
ASSETS BELONGING TO FINNISH CITIZENS, COMPANIES OR FUNDS REGISTERED IN FINLAND AS BENEFICIAL OWNERS AT ANY TIME DURING
THE SETTLEMENT CYCLE. THIS APPLIES FOR FINNISH NATIONALS/CITIZENS WHERE EVER TAX RESIDENT.
CA WEB:
PARTICIPANTS USING THE DTCC CA WEB SYSTEM AGREE THAT THE FOLLOWING CRITERIA HAVE BEEN MET:
1. The Participant has determined that the beneficial owner of the shares (individual or legal entity) is a resident of the United States
who is eligible for the 15% or 0% Finnish withholding tax rate. This is not tax advice. Please consult your tax advisor.
2. The Participant hereby certifies that it will indemnify BNY Mellon, (“the Depositary”) (and its agents) for any liability it may incur as
a result of reliance upon information provided by such Participant in connection with a CA WEB election, a claim for refund, or a
failure to provide information requested by the Finnish Tax Authorities as described in item 5 below. The Depositary shall not be
liable for any failure to secure a refund.
3. The Participant shall be liable for any loss due to foreign exchange fluctuations.
4. The Participant agrees to immediately return to the Depositaries any funds erroneously received as a result of an improper CA WEB
election or refund claim. In addition, the Participant agrees to pay any interest, additions to tax or penalties thereon.
5. If requested by the Finnish Tax Authorities (directly or indirectly), the Participant agrees to provide the Depositaries with beneficial
ownership information regarding the depositary receipts,: such as the names, entire addresses, the countries of residence for tax
purposes, tax identification numbers or social security numbers, as well as the number of depositary receipts for which the reduced
rate of withholding tax is certified, the rate that is applied, and any other information that may be reasonably requested. Such
information will be provided within 30 days of the Participant being informed of the request. If requested by the Finnish Tax
Authorities (directly or indirectly), the Participant also agrees to provide the Depositaries with a Certificate of Fiscal Residency (a
form 6166) within 90 days of the Participant being informed of the request. The Finnish Tax Authority reserves the right to request
records for the 6 preceding years. Participants who submit claims on behalf of qualified pension funds that elect the 0% withholding
rate need to provide this information to the Depositaries at the time the claim is made.
DUE TO CHANGES IN FINNISH TAX LAW, BY USING THE CA WEB INSTRUCTION FUNCTION THE PARTICIPANTS CERTIFY THAT THEY WILL BE ABLE TO
PROVIDE ADDITIONAL DOCUMENTATION REQUESTED BY THE FINNISH TAX AUTHORITY WITHIN THE TIMEFRAMES SPECIFIED. FAILURE TO
PROVIDE SUCH DOCUMENTATION WILL HOLD THE PARTICIPANTS LIABLE FOR ANY ADDITIONAL TAX, INTEREST AND/OR PENALTIES.
6FREQUENTLY ASKED QUESTIONS (FAQs)
Who can file claims via ADRoit BNY Mellon / Goal Global Recoveries Inc. will only process claims that have been
submitted by a DTC Participant who holds the Securities through DTC. The DTC
Participant must report the position held as at record date in order to be able to benefit
from a reduced tax rate by way of Relief At Source, Quick Refund method or Long Form
Reclaim, pursuant to a double taxation agreement being in place between the beneficial
owner’s country of residence and Finland.
What is the Statute of Limitations period for The Statute of Limitations for filing Finnish reclaims is currently 3 years from the end of
filing a Finnish reclaim year of the dividend payment. In order to facilitate claims that are requested in the final
year prior to the expiration date Goal Global Recoveries Inc have set a deadline of 6
months preceding the Statute date. Any reclaims that are requested after the date set by
Goal Global Recoveries Inc. will be submitted to the Tax Authority on a best efforts basis
only.
What is the indicative timeframe for tax reclaim The indicative time frame can vary depending on the workload of the Tax Authority or
proceeds to be refunded by the Finnish Tax other factors. However, under normal circumstances, for tax reclaims to be paid the
Authorities timeframes are as follows:
Relief at Source – Paid through DTCC on dividend pay date
Quick Refund – 7 - 12 weeks
Long Forms Reclaims - 10 – 12 months from submission to the Finnish Tax Authorities.
Note: Although Long Form Reclaims can be submitted to the Finnish Tax Authorities at
any point throughout the year they are not processed by the tax authorities until the
following year. For example, a dividend with a pay date in April 2018 will not be assessed
for payment by the tax authorities until 1st quarter 2019.
Does the name on all documents have to be The Beneficial Owner/DTC Participant name should generally remain constant across all
exactly the same documents and where applicable must match to the name stated on the Certificate of Tax
Residence (COTR)/IRS 6166 form. The Finnish Tax Authority may ask for further
evidence/information should there be variances.
Where should the physical documentation be All original documentation should be sent to the New York office of Goal Global Recoveries
sent Inc. at 5 Hanover Square, Suite 2300, New York NY 10004, U.S.A. The documentation must
be received by the deadline dates as specified at the beginning of this notice. For the
avoidance of documentation being lost in transit we strongly recommend that the
documents are sent via a secure method such as FedEx, UPS, DHL (for example) and that
the tracking number of the package is recorded.
Can a substitute document be provided if a Where a signed Power of Attorney forms part of the documentation requirements, and for
Power of Attorney is not available whatever reason is not available, a Trust Agreement can be submitted as an alternative
document. Please note however that in this situation a Limited Power of Attorney signed
by the Participant would also be required. The Limited Power of Attorney must also be
notarised.
Is it acceptable to provide a US form 6166 6166 forms which contain the IRS Code ruling 81-100 are acceptable if accompanied with
containing the IRS Code ruling 81-100 a Determination Letter issued by the US Treasury
Please explain the minimum fee for Long Form For standard Long Form reclaims there is a minimum fee of $25 per beneficial owner.
Reclaims However, for claims under $50 this fee may be waived on an exceptional basis. In such
instances a fee of 50% of the reclaimed amount will apply
7INVENTORY OF APPENDICES
APPENDIX A COVER LETTER
POWER OF ATTORNEY (DTC PARTICIPANT TO BNY MELLON/GOAL
APPENDIX B
GLOBAL RECOVERIES INC.)
APPENDIX C CERTIFICATE OF DIVIDEND PAYMENT
VEROH 6160E AFFIRMATION
APPLICATION FOR REFUND OF WITHHOLDING TAX (Non-Individual
VEROH 6163E
entities)
VEROH 6164E APPLICATION FOR REFUND OF WITHHOLDING TAX (Individual applicants)
ADRoit by Goal Global Recoveries Inc.
BNY Mellon offers the ADRoit system as a secure platform for the submission of the beneficial owner data and the creation of the requisite
documentation.
The system will automatically generate the necessary documentation which the Participant can easily access, complete, sign and submit to
BNY Mellon/Goal Global Recoveries Inc.
A one-time registration process is required in order to use ADRoit. For registration purposes only please contact
adroitregistration@goalgroup.com. For all other ADR related enquiries please contact adroit@goalgroup.com or call Goal Global Recoveries
Inc. on +1 (212) 248 9130
CONTACT DETAILS
PRIMARY CONTACT ESTEBANIA CONCEPCION
SECONDARY CONTACT NICHOLAS SCHMIDT
CONTACT TELEPHONE NUMBER +1 (212) 248 9130
E-MAIL ADDRESS ADROIT@GOALGROUP.COM
COMPANY NAME GOAL GLOBAL RECOVERIES INC.
STREET ADDRESS 5 HANOVER SQUARE, SUITE 2300
CITY, STATE, ZIP CODE NEW YORK, NY 10004
8BNY Mellon Warning and Disclaimer:
BNY Mellon will not be responsible for the truth or accuracy of any submissions received by it and all Participants and holders, whether
or not following the procedures set forth herein or otherwise submitting any information, agree to indemnify and hold harmless BNY
Mellon and its agents for any all losses, liabilities and fees (including reasonable fees and expenses of counsel) incurred by any of them
in connection herewith or arising herefrom. BNY Mellon and its agents will be relying upon the truth and accuracy of any and all
submissions received by them in connection with the tax relief process and shall hold all participants and DR holders liable and
responsible for any losses incurred in connection therewith or arising there from. There is no guarantee that the applicable tax
authorities will accept submissions for relief. Neither BNY Mellon nor its agents shall be responsible or liable to any holders of DRs in
connection with any matters related to, arising from, or in connection with the tax relief process described herein. See also
“Agreements, Fees, Representations and Indemnification” above.
All tax information contained in this Important Notice is based on a good faith compilation of information obtained and received from
multiple sources. The information is subject to change. Actual deadlines frequently vary from the statutory deadlines because of local
market conditions and advanced deadlines set by local agents. To mitigate risk, it is strongly advised that DTC Participants file their
claims as soon as possible as the depositary and/or their agents will not be liable for claims filed less than six months before the
specified deadline. In the event that local market rules, whether implemented by a local agent or a Tax Authority, conflict with the
information provided in the important notice, either prior to or after publication, the local market rules will prevail.
Goal Global Recoveries Inc. Disclaimer:
All information contained in this Important Notice, including, but not limited to tax information, has been compiled in good faith from
multiple third-party sources. While all reasonable care has been taken in the compilation and publication of the contents of this
Important Notice, the information is subject to change.
Local market conditions and possible advanced deadlines imposed by local agents may cause actual deadlines to frequently vary from
statutory deadlines. Therefore, to minimize risk, it is strongly advised that DTC Participants file their claims as soon as possible because
the depositary agents and/or their agents will not be liable for claims filed less than six months before the specified deadline. In the
circumstance where local market rules, whether imposed by a local agent or a Tax Authority, cause any conflict with the information
provided in the Important Notice (prior to or after publication), the local market rules shall prevail.
The information contained herein is for informational purposes only and is not intended to be a substitute for obtaining tax,
accounting, or financial advice from an appropriate professional advisor.
9APPENDIX A – COVER LETTER
(Please place on your Company Letterhead)
[DATE]
The Bank of New York Mellon as Depositary
C/O Goal Global Recoveries Inc.
5 Hanover Square, Suite 2300
New York, NY 10004
Attn: Finnish Tax Reclaims
Enclosed please find tax reclamation documents, which we are submitting on behalf of our clients who wish to avoid excess withholding tax on Finland ADR’s.
We, [NAME OF DTC PARTICIPANT] , also identified as DTC participant number [DTC PARTICIPANT NUMBER], hereby state that each beneficial owner cited
below held the respective amount of ADRs on the record date of October 29, 2019 the security METSO – CUSIP: 592671101
Below is the list of beneficial owners and their holdings, which total [TOTAL # OF ADRs CITED BELOW] ADR’s. As required, the forms and a certification of
residency document (Form 6166) if applicable, are enclosed for each beneficial owner. The ratio is 4 Depositary Receipts to 1 Ordinary Share. The information
is as follows:
Name of Street Address of City, State, Zip Type of # of DRs
(Country) of Tax Payer I.D. # Reclaim %
Beneficial Owner Beneficial Owner Account Held
Beneficial Owner
1)
2)
Note: for more than 5 Beneficial Owners, please provide an excel breakdown of shareholder information
Total Shares: _________________
We ask that BNY Mellon, as Depositary, apply to the Finnish tax authority for these withholding tax relief requests on the above beneficial owners’ behalf.
Please contact the undersigned should you have any questions.
This tax relief assistance service is wholly voluntary and discretionary, and outside the terms and conditions of any applicable deposit agreement. BNY Mellon undertakes
no duty or obligation to provide this service, and may reject or decline any or all proposed electing participants or holders in its sole discretion. We hereby accept and
agree to pay the fees of BNY Mellon of up to $0.0075 per Depositary Receipt for Relief at Source and Quick Refund, or up to $0.01 per Depositary Receipt for Long Form
(with a minimum of $25) and any other charges, fees or expenses payable by or due to BNY Mellon or its agents, including any custodian, in connection with the tax
reclaim process, or to tax authorities or regulators (which fees, charges or expenses may be deducted from the dividend or any other distribution or by billing or
otherwise in BNY Mellon’s discretion). We hereby agree that any such fees, charges or expenses may be due and payable whether or not a successful reduction in rate
or reclamation is obtained. We hereby acknowledge that fees paid to BNY Mellon may be shared with its agents and affiliates.
We hereby agree in addition to statutory and documentation requirements, and the deduction of fees, tax relief benefits will be subject to review and approval, and
potential audits by the applicable custodian and applicable tax regulators, and that BNY Mellon is not providing any legal, tax, accounting or other professional advice
on these matters and has expressly disclaimed any liability whatsoever for any loss howsoever arising from or in reliance hereto. Participants and/or investors should
seek advice based upon their own particular circumstances from an independent tax advisor.
We certify to the best of our knowledge that each of the beneficial owners identified are eligible for the preferential rates as stated and we declare that we have
performed all the necessary due diligence to satisfy ourselves as to the accuracy of the information submitted to us by these beneficial owners. Furthermore, in the
event of an audit we agree to provide any and all documentation required by the respective Tax Authority.
We will be fully liable for any and all claims, penalties and / or interest, including without limitation, any foreign exchange fluctuations associated therewith. BNY Mellon
shall not be liable for the failure to secure any tax relief. We expressly agree that BNY Mellon and its agents or affiliates shall not have any liability for, and we shall
indemnify, defend and hold each of BNY Mellon and its agents and affiliates harmless from and against, any and all loss, liability, damage, judgment, settlement, fine,
penalty, demand, claim, cost or expense (including without limitation fees and expenses of defending itself or enforcing this agreement) arising out of or in connection
herewith.
Sincerely,
[Signature of authorized signatory for DTC Participant]
[NAME AND TITLE OF AUTHORIZED OFFICER FOR DTC PARTICIPANT]
PAYMENT ADDRESS: ___________________________
___________________________
10APPENDIX B – CERTIFICATE OF DIVIDEND PAYMENT
***THIS DOCUMENT MUST BE PREPARED ON COMPANY LETTERHEAD***
***ALL AMOUNTS MUST BE IN EUROS***
(Important – DTC Participants must complete a separate Certificate of Payment for each beneficial owner)
CERTIFICATION OF PAYMENT
[DTC Participant Name] hereby certifies that the following beneficial owner holding the security METSO - CUSIP: 592671101 was a
holder of record on October 29, 2019 The beneficial owner was paid the dividend less the 30% withholding tax at source and is
entitled to the [Refund %] tax refund stipulated under the provisions of the “[Residence Country of Beneficial Owner]” – Finland Tax
Treaty Convention.
We hereby certify that we have paid the dividend to the beneficial owner of the following securities on November 15, 2019.
Agent: [DTC Participant Name]
[DTC Participant #]
Beneficial Owner: [Beneficial Owner Name]
[B/O Address]
[B/O City, State, Zip Code]
[B/O Country of Residence]
Security: [SECURITY NAME]
Ordinary Pay Date: [Ordinary Pay Date]
Shares held: [Number of Ordinary Shares Held]
Dividend Rate: EUR _____ per share
Gross Dividend: [Gross Dividend]
Amount of Tax Withheld (30%): [Amount of Tax Withheld]
Refund Amount Due (Reclaim %): [Amount of Refund]
Certified By
Authorized Signature [Sign Here] ____________________ Date [Today's Date]
NAME ____________________
TITLE ____________________
INSTITUTION ____________________
11APPENDIX C – POWER OF ATTORNEY
***THIS DOCUMENT MUST BE PREPARED ON COMPANY LETTERHEAD***
POWER OF ATTORNEY
(Broker’s Letterhead)
Power of Attorney
(Name of Broker), with address in (City, State, Country) hereby appoints BNY Mellon (“Bank”) and/or the Bank’s designated
standing proxy(ies) as its true and lawful attorney with full Power of Attorney to do all or any of the following acts with respect to
the American Depository Receipts representing shares in METSO (“Securities”) that the Bank holds in its safe custody on behalf of
the Undersigned broker/agent .
i) To file required forms with competent tax authorities in order to secure any tax privileges and benefits such as tax
reduction or tax-exemption at source.
ii) To receive on behalf of the Undersigned tax repayments made by competent tax authorities as a result of lodging
reclaim forms.
The Undersigned also authorizes the Bank and/or the Bank’s designated standing proxy(ies) to submit this power of attorney or a
photocopy of it to competent tax authorities.
(Name of the broker representative)
_________________ ______
Place and Date Authorized Signature(s)/Title(s)
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