Notification under chapter 2, section 10 of the securities markets act on an agreement resulting in a change in holdings
Nokian Tyres plc Stock Exchange Release, Feb. 24, 2003 9.45 a.m. 1(1)
NOTIFICATION UNDER CHAPTER 2, SECTION 10 OF THE SECURITIES MARKETS ACT ON AN AGREEMENT RESULTING IN A CHANGE IN HOLDINGS
Nokian Tyres plc has been informed today that Nokia Corporation (register number 2.263) has agreed to sell its 2.000.000 Nokian Tyres shares to Bridgestone Europe NV/SA. The transaction price was 39.17 euros per share.
As a result of this the share of Bridgestone Europe in Nokian Tyres ownership and voting rights will be 18.9% and accordingly Nokia's share will decrease to 0%.
Nokian Tyres has a total of 10,582,286 shares and 10,582,286 voting rights.
The parties to the agreement are Nokia Corporation as seller and Bridgestone Europe NV/SA, a Belgian corporation, as purchaser. The transaction is conditional upon approval by the German antitrust authorities. Title to the shares, and the above notified change in holdings, take place upon the execution of the transaction as a block trade over the Helsinki Exchanges within two working days from the approval by the German antitrust authorities. If the transaction has not been effected by August 31, 2003, both parties have the right to terminate the agreement. The terms of the agreement are otherwise customary. The final execution of the transaction will be separately notified at the time.
Nokian Tyres plc
Vice President, Communications and Investor Relations
Further information: Mr. Kim Gran, President and CEO,
Tel. + 358 3 340 7336
Distribution: Hex and major media