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The Board of Directors of Nokian Tyres plc approved distribution of stock options

Wed August 11 10:09 am 2004 in category Stock exchange releases
Nokian Tyres plc Stock Exchange Announcement 11th August 2004, 10.00 am

THE BOARD OF DIRECTORS OF NOKIAN TYRES PLC APPROVED DISTRIBUTION OF STOCK OPTIONS

The Board of Directors of Nokian Tyres plc has approved the distribution of the stock options directed to the personnel of the Group and to the wholly-owned subsidiary of Nokian Tyres plc, issued by the Annual General Meeting of Shareholders on 5 April 2004.

A total of 211 875 2004A stock options was distributed to the personnel of the Group. The rest of the stock options were granted to Direnic Oy, a wholly-owned subsidiary of Nokian Tyres plc, to be further distributed to the present and future personnel of the Group.

The maximum number of Nokian Tyres plc shares that can be subscribed for with the stock options is 735,000. The share subscription price for stock option 2004A is EUR 62.96 (the trade volume weighted average quotation of the Nokian Tyres plc share in the Helsinki Exchanges in January-March 2004), for stock option 2004B the trade volume weighted average quotation of the Nokian Tyres plc share in the Helsinki Exchanges in January-March 2005 and for stock option 2004C the trade volume weighted average quotation of the Nokian Tyres plc share in the Helsinki Exchanges in January-March 2006.

The share subscription period for stock option 2004A shall be 1 March 2006 – 31 March 2008, for stock option 2004B 1 March 2007 – 31 March 2009 and for stock option 2004C 1 March 2008 – 31 March 2010.

The Annual General Meeting approved the issue of stock options on 5 April 2004, and the terms and conditions of the stock options were published in a stock exchange release on 12 February 2004.


Nokian Tyres plc

Raila Hietala-Hellman
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