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2007-06-08 09:37:47 CEST 2007-06-08 09:37:47 CEST REGULATED INFORMATION Ruukki Group Oyj - Company AnnouncementRUUKKI GROUP PLC'S BOARD HAS DECIDED ON A DIRECTED SHARE ISSUE FOR FREE IN ORDER TO MOTIVATE AND SUPPORT THE COMMITMENT OF THE NEW CEOBased on the authorisation granted by the annual general meeting on 20 April 2007, Ruukki Group Plc's board of directors has today decided on a directed share issue for free of 300,000 new shares, which will be directed to Mr. Matti Vikkula, in order to motivate and support the commitment of the new CEO Matti Vikkula. There is a restriction on the right of disposal (a lock-up), which ends on 15 December 2008. The board believes that there is a weighty financial reason, benefiting the company and all shareholders, for the free directed share issue and for the deviation from the pre-emptive rights of the shareholders to subscribe the new shares, since the cause is motivating and supporting the commitment of the new CEO. In addition the board has agreed according to the previously mentioned authorisation to a share offering of 3 million shares directed at the new CEO, provided that the share offering takes place. The share price will be the same as the subscription price of the issuing of shares taking place in June 2007. The success of Ruukki Group Plc's strategy is first and foremost dependent on the fact that the planned Russian investments can be realised forcefully and according to schedule. The work contribution of the top management, especially CEO is crucial, because the business environment in Russia will continue to be challenging also in the future. RUUKKI GROUP PLC BOARD OF DIRECTORS Ruukki Group is a multi-sector industrial group having mainly majority ownership interests in various small and medium-sized companies in e.g. house building, sawmilling business, furniture business and care services. Ruukki Group share (RUG1V) is listed on OMX Nordic Exchange's so-called small cap category. For further information, please contact: Kai Mäkelä Vice Chairman of the Board Ruukki Group Plc Telephone +358 400 503 142 www.ruukkigroup.fi |
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