Honkarakenne Oyj - Company Announcement

BOARD OF DIRECTORS OF HONKARAKENNE OYJ DECIDES ON SHARE-BASED COMMITMENT SCHEME DIRECTED AT ALL EMPLOYEES

HONKARAKENNE OYJ, Stock Exchange Release 10 January 2014 at 2:40 p.m.

BOARD OF DIRECTORS OF HONKARAKENNE OYJ DECIDES ON SHARE-BASED COMMITMENT SCHEME
DIRECTED AT ALL EMPLOYEES 

On the basis of the authorisation to issue shares granted to the Board of
Directors at the Annual General Meeting of 5 April 2013, the Board has decided
to arrange a directed issue, according  to which Honkarakenne employees based
in Finland will be offered the opportunity to subscribe for a total of 150,000
new Honkarakenne Series B shares. 

The purpose of this arrangement is to incentivise employees to buy and own
shares in the company, based on which the Board regards the directed issue to
employees as being in the interests of the company and takes the view that
there is a weighty financial reason for the accompanying derogation from the
shareholders' pre-emptive subscription rights. 

Two share subscription prices will be applied, so that the subscription price
of each new B share per subscriber among the first two hundred share
subscriptions is the fair value of the share less fifty percent. After the
first two hundred shares, the subscription price of shares will be their fair
value less ten percent. The share's fair value has been set as the trade volume
weighted average quotation of Honkarakenne's B share on the NASDAQ OMX Helsinki
Ltd. during 7 December 2013 - 7 January 2014. For the first two hundred shares,
the subscription price is therefore 1.35 euros per share and, correspondingly,
for the remaining shares 2.43 euros per share. 

The share subscription period for the share issue directed at employees will
begin at 9.00 am on 3 February 2014 and end at 6.00 pm on 17 February 2014, and
payment for shares subscriptions is due by the final day of the subscription
period. The minimum subscription under the scheme is for a hundred shares. 

In the case of an oversubscription, the Board of Directors will seek to approve
subscriptions in such a way that all those to which the fifty percent discount
applies are approved, and that small subscriptions are otherwise given
precedence over single large subscriptions. Any subscription payments made will
be refunded in all cases in which share subscriptions are not approved. No
interest will be paid on refunded payments. 

Further details on the share issue directed at employees will be issued to
staff at the earliest possible stage prior to the subscription period, in order
to enable employees to prepare to participate in the scheme. The terms and
conditions of the scheme are available in full on company's website
www.honka.com. 

Trading in the shares issued under the scheme will begin on the NASDAQ OMX
Helsinki Ltd. from around 14 March 2014. However, a share transfer restriction
will apply to employee shares until 16 February 2015. 

HONKARAKENNE OYJ

Mikko Kilpeläinen

President and CEO



For further information, please contact:

Mikko Kilpeläinen, President and CEO, tel. +358 50 542 5884
mikko.kilpelainen@honka.com or 

Mikko Jaskari, CFO, tel. +358 400 535 337 mikko.jaskari@honka.com.



DISTRIBUTION

NASDAQ OMX Helsinki Oy

Key media

Financial Supervisory Authority

www.honka.com