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2007-06-29 12:15:00 CEST 2007-06-29 12:15:00 CEST REGULATED INFORMATION OKO Pankki Oyj - Company AnnouncementOKO Bank Plc Settles Dispute over Pohjola Share Redemption Price with Several Significant Minority ShareholdersOKO Bank Plc and several former Pohjola Group plc's (Pohjola) minority shareholders (eg Uccellone Enhancement Fund Ky, Juha Mikkonen and Peter Fagernäs) have agreed that the arbitral award issued by the Arbitral Tribunal on 2 May 2007, regarding the redemption price of Pohjola shares, will remain final between the parties involved and that the parties will not present claims against one another in the district court. This agreement applies to an approximate total of 62.4% of all of the disputed Pohjola shares held by minority shareholders. The pre-share redemption price of EUR 14.35, based on the Tribunal's decision, is one (1) euro higher than the EUR 13.35 previously bid by OKO Bank. Certain other minority shareholders have notified OKO Bank of their intention of appealing the arbitral award. For this reason, OKO Bank has also decided to appeal the arbitral award, in respect of matters other than agreed, and demand that the district court confirm the per-share redemption price at EUR 13.35. Owing to the appeal, OKO Bank will pay the amounts of the arbitral award, plus interest, only to minority shareholders who will notify OKO Bank of accepting the arbitral award. By 13 July 2007, OKO Bank will separately notify every minority shareholder in writing of the related procedure. OKO Bank plc Markku Koponen Senior Vice President DISTRIBUTION Helsinki Stock Exchange Major media www.oko.fi FOR MORE INFORMATION, please contact Mr Mikael Silvennoinen, President and CEO, tel. +358 10 252 2549 Mr Timo Ritakallio, Deputy CEO, tel. +358 10 252 4322 |
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