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2010-01-11 10:00:00 CET 2010-01-11 10:00:01 CET REGULATED INFORMATION Honkarakenne Oyj - Company AnnouncementPREPARATIONS FOR THE SALE OF THE COMPANY'S OWN SHARES AND FOR A DIRECTED ISSUE AS WELL AS SUBSCRIPTION COMMITMENTSHONKARAKENNE OYJ Stock Exchange Release 11 January 2010 at 11:00 hours PREPARATIONS FOR THE SALE OF THE COMPANY'S OWN SHARES AND FOR A DIRECTED ISSUE AS WELL AS SUBSCRIPTION COMMITMENTS On the basis of the authorization given by the 2009 Annual General Meeting, Honkarakenne Oyj's Board of Directors has decided to prepare a sale of the company's own shares to a restricted circle of the company's key personnel. The company has already received the following subscription commitments: Chairman of the Board Lasse Kurkilahti 30,000 shares, board member Mauri Niemi's controlling interest company Privatum Oy 20,000 shares and President and CEO Esa Rautalinko 30,000 shares. The board is expected to take the final decision concerning the sale and the related terms on 26 January 2010. In accordance with the decision of Honkarakenne Oyj's Extraordinary General Meeting held on 8 December 2009, the board has also decided to prepare a directed issue of no more than 1,200,000 B shares in the form of a private placement to certain investors of a professional nature. The board is expected to take the final decision concerning making the issue, its volume and its terms on 26 January 2010. In connection with the drafting of the issue, the company has received subscription commitments from Saarelainen Oy (maximum 100,000 shares) and from Varma Mutual Pension Insurance Company (maximum 350,000 shares, however not exceeding 7.1% of the new number of shares). In the event of any over-subscription, Varma's subscription may be cut. Honkarakenne's objective in the share issue is to underpin its capital structure and enhance its operational and strategic flexibility. HONKARAKENNE OYJ Board of Directors Additional information: President and CEO Esa Rautalinko, tel. +358 (0)400 740 997 esa.rautalinko@honka.com. DISTRIBUTION OMX Helsinki Key media Financial Supervisory Authority www.honka.com NOTE: The information conveyed in this release does not constitute an offer to sell or buy securities, nor are the securities referred to in this release sold in areas where such offering or selling would be illegal before they are registered or before a registration exemption or some other approval under the securities legislation of the relevant areas were obtained. Copies may not be made of this release or distributed in or sent to the United States, Great Britain, Canada, Australia, Hong Kong, Japan or South Africa. |
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