The Board's proposals to the annual general meeting
Nokian Tyres plc Stock Exchange Release Feb. 18, 2003 9.00 a.m.
THE BOARD'S PROPOSALS TO THE ANNUAL GENERAL MEETING
The Board's proposals to the Annual General Meeting, March 26, 2003 will include a payment of a dividend and the authorisation of the Board to increase share capital,
1. Payment of dividend
The Board of Directors propose at the Annual General Meeting of Shareholders that a dividend of EUR 1,11 per share is paid for the fiscal year 2002.
The dividend will be paid to shareholders who on the record date, 31 March 2003, have been entered in the Company's shareholder register maintained by the Finnish Central Securities Depository Ltd. The payment date for the dividend is proposed to be 7 April 2002.
2. Board's proposal for an authorisation to increase share capital
The Board of Directors propose that the Board of Directors be authorised to decide upon increasing the share capital on one or more occasions by an issue of new shares and/or convertible bonds. The share capital of the company can be increased by a maximum of EUR 4 million. A maximum of 2,000,000 new shares can be issued each bearing a nominal value of EUR 2.00.
The Board of Directors may also deviate from the shareholders pre-emptive subscription right, provided that there is a compelling financial reason for the company referred to in chapter 4:2a of the Companies Act.
The Board of Directors has the right to decide upon the parties who are entitled to subscribe as well as the subscription price, terms and conditions of share subscription and terms and conditions of convertible bonds.
The validity of the authorisation is one year from the date of the Annual General Meeting.
At the same time any other effective authorisations upon increasing the share capital are nullified.
Nokian Tyres plc
Vice President, Communications and Investor Relations
Further information: Mr. Rami Helminen, Vice President, Finance and Control, tel. +358 3 340 7463.
Distribution: Hex and major media