Nokian Tyres plc contemplates share issue directed to institutional investors; receipt of subscription undertakings will commence on 16 February 2005
NOKIAN TYRES PLC Stock Exchange Release 16 February 2005 at 6.30 p.m
NOKIAN TYRES PLC CONTEMPLATES SHARE ISSUE DIRECTED TO INSTITUTIONAL INVESTORS; RECEIPT OF SUBSCRIPTION UNDERTAKINGS WILL COMMENCE ON 16 FEBRUARY 2005
THESE MATERIALS ARE NOT AN OFFER FOR SALE OF THE SHARES IN THE UNITED STATES. THE SHARES MAY NOT BE SOLD IN THE UNITED STATES WITHOUT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED. NOKIAN TYRES PLC DOES NOT INTEND TO REGISTER ANY PORTION OF SUCH OFFERING IN THE UNITED STATES OR TO CONDUCT A PUBLIC OFFERING OF SHARES IN THE UNITED STATES.
The Board of Directors of Nokian Tyres plc (Company) has decided to receive subscription undertakings related to the share issue contemplated by the Company. In the share issue, the Company’s shares will be offered to a limited number of Finnish and international institutional investors. The maximum number of new shares to be offered for subscription is 1,074,000 shares.
As stated in the Company’s financial statements release, the Com-pany is continuously evaluating its capital structure in light of numerous expansion opportunities. In line with this, the purpose of the share issue is to finance the investments in accordance with the company’s investment plan, enhance the Company’s accelerated growth, maintain the company’s liquidity and extend the Company’s shareholder base.
Background to share issue
The annual general meeting of the Company held on 5 April 2004 authorized the Company’s Board of Directors to decide on the increase of the share capital by an issue of new shares in deviation from the pre-emptive subscription rights of the shareholders by a maximum of EUR 4,000,000.
Implementation of share issue
The share issue will be implemented through a book-building
process where subscription undertakings for the new shares may be made by selected institutional investors. The book-building will commence on 16 February 2005 at 6.30 p.m. (Finnish time) and end no later than 17 February 2005 at 6.30 p.m. (Finnish time), after which the Board of Directors of the Company will make the final decision on the implementation of the share issue. In the event of oversubscription, the share issue may be discontinued prematurely. A decision to discontinue the share issue will be notified
immediately by a stock exchange release.
Trading in the new shares together with the other shares in the Company will commence on the Main List of the Helsinki Stock
Exchange on or about 24 February 2005.
The new shares will correspond to approximately 9.9 percent of the Company’s share capital and votes attached to the shares before the implementation of the share issue, provided that the share issue is subscribed in full.
The sole manager of the share issue is Carnegie Investment Bank AB.
NOKIAN TYRES PLC
BOARD OF DIRECTORS
For further information, please contact: Mr. Kim Gran, President and CEO, tel. +358 3 340 7336 or Mr. Rami Helminen, CFO, tel.
+358 3 340 7463.
Distribution: OMX and the key media
NOT FOR DISTRIBUTION IN THE UNITED STATES.