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Fri June 1 12:00 am 2001 in category Stock exchange releases
Nokian Tyres plc Stock Exchange Release June 1 2001 4.20 pm. 1(1)


THE BOARD OF DIRECTORS OF NOKIAN TYRES PLC APPROVED SUBSCRIPTIONS FOR THE BOND LOAN WITH WARRANTS DIRECTED TO THE PERSONNEL OF THE NOKIAN TYRES GROUP



The Board of Directors of Nokian Tyres plc has approved the subscriptions for the bond loan with warrants directed to the personnel of the Nokian Tyres Group. 42% of the whole personnel subscribed for the bond loan with warrants.

The Board of Directors approved a minimum subscription of FIM 320 for each subscriber. In addition, the Board of Directors approved a subscription of FIM 390.240 to Direnic Oy, a wholly owned subsidiary of Nokian Tyres plc to be later offered to the present or future personnel of the Nokian Tyres Group.

Bond certificates I and the attached warrants were offered to the subscribers of the 1999 bond loan with warrants provided that the warrant holder returns all his/her old 1999 warrants to the company. In the conversion 433.800 old 1999 warrants were returned to the company.

The maximum amount of the 2001 bond loan with warrants is FIM 2,400,000 and the maximum number of Nokian Tyres shares that can be subscribed for with the warrants is 600,000 during 1 March 2003-31 March 2007.

The Company will cancel a total of 433.800 1999 warrants, which have been returned to the Company in the conversion and entitle to subscription for 433.800 shares, as well as a total of 85.250 1999 warrants, which are in the possession of Direnic Oy, a wholly owned subsidiary of Nokian Tyres plc, and entitle to subscription for 85.250 shares.


NOKIAN TYRES PLC


Raila Hietala-Hellman
Vice President, Public Information



For further information, please contact:
Mr Rami Helminen, CFO, tel. +358 50 5151 699