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2012-04-26 08:00:06 CEST 2012-04-26 08:00:15 CEST REGULATED INFORMATION Marimekko - Company AnnouncementMARIMEKKO CORPORATION OFFERS FOR SUBSCRIPTION A SMALL NUMBER OF SHARES TO ITS PERSONNEL AT 50% DISCOUNTMarimekko Corporation, Stock Exchange Release, 26 April 2012 at 9.00 a.m. MARIMEKKO CORPORATION OFFERS FOR SUBSCRIPTION A SMALL NUMBER OF SHARES TO ITS PERSONNEL AT 50% DISCOUNT For larger subscriptions, a 10% discount is offered. The Board of Directors has, pursuant to the authorization granted by the Annual General Meeting of Shareholders held on 17 April 2012, decided to arrange a share issue in which new shares in the company are offered for subscription to the personnel and to designers employed by the company on a freelance basis. The Board of Directors will decide on the detailed terms and conditions and schedule of the share issue in fall 2012. The Board of Directors considers important that the personnel is informed on the future share issue as early as possible and is able to get prepared to participate in the share issue. ”We in Marimekko aim to create unique corporate culture in which the sense of togetherness of the personnel is essential. In a creative company like Marimekko, the success of the company is practically dependent solely on the people. The purpose of the share issue is to encourage the personnel and designers to acquire and own the company´s shares. Marimekko has a long-term international growth strategy, and I firmly believe that this is a good way to further increase entrepreneurial spirit, to motivate our personnel to reach our ambitious targets and award them for good performance. In this manner, we want to be way-makers in committing personnel also through direct shareholding,” says President and CEO Mika Ihamuotila. A maximum total of 150,000 new shares in the company will, in deviation from the shareholders' pre-emptive right, be offered for subscription to the company's personnel and to designers employed by the company on a freelance basis. The company has a weighty financial reason for the deviation from the shareholders' pre-emptive right, since the purpose of the share issue is to encourage the personnel and designers to acquire and own the company´s shares. In the share issue, each employee will have the right to subscribe new shares at two differed subscription prices. The share subscription price for the first 50 shares to be subscribed will be the prevailing quotation of the share on NASDAQ OMX Helsinki Ltd at that time, determined by the Board of Directors, deducted by 50%. The share subscription price for shares to be subscribed after the first 50 shares will be the prevailing quotation of the share on NASDAQ OMX Helsinki Ltd at that time, determined by the Board of Directors, deducted by 10%. The minimum subscription is 20 shares. The intention is that in case of oversubscription small subscriptions will primarily be favoured instead of big individual subscriptions. The Board of Directors will decide on the final subscription price of the shares to be offered, on the share subscription period, on payment of subscriptions and on other detailed terms and conditions estimated in August-September 2012. For additional information, contact: Mika Ihamuotila, President and CEO, tel. +358 9 758 71 MARIMEKKO CORPORATION Group Communications Piia Kumpulainen Tel. +358 9 758 7293 piia.kumpulainen@marimekko.fi DISTRIBUTION: NASDAQ OMX Helsinki Ltd Key Media Marimekko is a Finnish textile and clothing design company renowned for its original prints and colours. The company designs and manufactures high-quality interior decoration items ranging from furnishing fabrics to tableware as well as clothing, bags and other accessories. When Marimekko was founded in 1951, its unparalleled printed fabrics gave it a strong and unique identity. Marimekko products are sold in approximately 40 countries. In 2011, brand sales of Marimekko products worldwide amounted to approximately EUR 170 million and the company's net sales were EUR 77 million. The number of Marimekko stores totalled 90 at the year end. The key markets are North America, Northern Europe and the Asia-Pacific region. The Group employs around 430 people. The company's share is quoted on NASDAQ OMX Helsinki Ltd. www.marimekko.com |
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