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2007-04-20 11:41:31 CEST 2007-04-20 11:41:31 CEST REGULATED INFORMATION Panostaja Oyj - Company AnnouncementPANOSTAJA OYJ INCREASE IN SHARE CAPITAL ENTERED INTO TRADE REGISTERPANOSTAJA OYJ Stock Exchange Bulletin, 20th April 2007 PANOSTAJA OYJ INCREASE IN SHARE CAPITAL ENTERED INTO TRADE REGISTER The 36,000 euros increase in share capital of Panostaja Oyj decided on by the Board was entered into the Trade Register today. The company's share capital as a result of the increase now totals 4,010,468.64 euros. The rights issue offered Mr. Kari Lindfors, who sold his KL-Varaosat companies to Panostaja Oyj, 300,000 new Panostaja Class B shares with a nominal value of 0.12 euros per share at a subscription price of 1.285 euros per share. From the subscription price, 0.12 euros will be recorded as an increase in share capital and 1.165 euros as an increase in the invested non-restricted equity fund. The Board exercised its authorisation given at the General Meeting of Shareholders on 15th December 2006 to increase share capital through a rights issue in derogation of the shareholders' subscription right. There was a special important financial reason why the company elected to make this derogation of the shareholders' subscription right: it enabled the company to close and finance a deal on acquisition of the KL Varaosat companies. The subscription price of the new shares in this directed issue was 1.285 euros per share corresponding to the average share price of completed transactions in the new Class B Panostaja shares in the Helsinki Stock Exchange during week 14/2007. Trading in the new shares is expected to begin on 23rd April 2007. The new Class B shares carry voting rights in accordance with the Articles of Association and other rights, once subscription to shares has been entered into the Trade Register, with the exception of the rights to receive dividends. The total number of Panostaja Oyj shares is 33,420,572. The numbers of Class A and B shares issued amounted to 17,256,595 and 16,163,977 respectively (12,477,977 old and 3,686,000 new shares). Panostaja Oyj Veli Ollila Chief Financial Officer For further information, please contact Mr. Veli Ollila, tel. +358 3 263 4300. |
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