Annual general meeting 2004 

 

The shareholders of KONE Corporation are hereby summoned to the Annual General Meeting of Shareholders to be held at the Colonial Cabinet of Hotel Kalastajatorppa (address Kalastajatorpantie 1), Helsinki, on Friday, 27 February, 2004 at 11.00 a.m.

The meeting shall decide on:

1. Matters to be decided upon under Article 12 of the Articles of Association.

2. The Board of Directors’ proposal that the Annual General Meeting would authorize the Board of Directors to repurchase the Company’s own shares with assets distributable as profit as follows:

The Company’s own repurchased shares shall be used as compensation in possible acquisitions and in other arrangements as well as to develop the Company’s capital structure.

Altogether no more than 3,173,180 shares may be repurchased, of which no more than 476.304 are class A shares and 2,696,876 are class B shares, taking into consideration the provisions of the Companies Act regarding the maximum amount of own shares that the Company is allowed to possess.

The class A shares shall be purchased in proportion to the existing shareholdings at the price equivalent to the average price of class B shares paid in the Helsinki Stock Exchange at the time of purchase. Any holder who wants to offer his class A shares to the Company must state his intention in writing to the Board of Directors. The Company may deviate from the obligation of purchasing shares in proportion to the shareholding if all the holders of class A shares give their permission.

Class B shares shall be purchased at public trading in the Helsinki Stock Exchange at the market price. The purchase price will be paid to the shareholders according to rules of the Helsinki Stock Exchange and the rules of the Finnish Central Securities Depository Ltd. The shares are not repurchased in proportion to the holdings of the shareholders as they are purchased in public trading.

The maximum amount of the shares to be repurchased shall not exceed 5% of the share capital nor 5% of the voting rights attached to the shares of the Company. The repurchase is divided between class A shares and class B shares in proportion to the existing number of shares and voting rights. Therefore, the purchase does not significantly affect the division of shareholdings nor voting rights in the Company. The repurchase of shares decreases the free equity of the Company.

This authorization shall remain in effect for a period of one year from the date of decision of the Annual General Meeting.

3. The Board of Directors propose that the Annual General Meeting authorize the Board of Directors to decide on the distribution of any shares repurchased by the Company as follows:

The authorization is limited to a maximum of 476,304 class A shares and 2,696,876 class B shares repurchased by the Company. The Board of Directors is authorized to decide to whom and in which order the repurchased shares will be transferred. The Board of Directors may decide on the distribution of repurchased shares otherwise than in proportion to the existing pre-emptive right of shareholders to purchase the Company’s own shares.

The repurchased shares may be used as compensation in acquisitions and in other arrangements in the manner and to the extent decided by the Board of Directors.

The shares shall be transferred at least at the market price quoted for class B shares in the Helsinki Stock Exchange at the moment of their transfer.

This authorization shall remain in effect for a period of one year from the date of decision of the Annual General Meeting.

4. Proposal by the Board of Directors that the Shareholders’ Meeting would confirm the option program, which will implement the decision by the Extraordinary General Meeting of Shareholders on 17 November, 2000 to issue option rights to the key personnel of KONE Group.

The Shareholders’ Meeting decided on 17 November, 2000 to issue option rights to the key personnel of the Group. The option rights have not yet been issued because the receiving of the option rights and the share subscription pursuant to the terms and conditions of the option program is connected to the development of KONE Group’s aggregated net income (after taxes) during three years period (2001 to 2003) shown in the Consolidated Financial Statements. On the basis of the decision made by the Shareholders’ Meeting on 17 November, 2000 it is proposed that the Shareholders’ Meeting decides to confirm the option program, the terms and conditions of which materially correspond with the option program approved on 17 November, 2000. The main content of the proposal is as follows:

a. A maximum number of 350,000 option rights shall be issued and they entitle to subscribe for a maximum number of 1,050,000 class B shares in KONE Corporation.

b. Subject to the meeting of the Group’s net income targets each option right shall give its holder the right to subscribe for three (3) class B shares in KONE Corporation with a nominal value of one (1) euro. As a result of the subscriptions the maximum increase in the share capital of the Company shall be 1,050,000 euros corresponding to 1,050,000 new shares.

c. Deviating from the shareholders’ pre-emptive right to subscription, the option rights for subscription are offered to the key persons of the KONE Group, who have received the temporary option certificates entitling to subscribe for the option rights pursuant to the option program approved on 17 November, 2000. KONE Capital Oy, a wholly owned subsidiary of KONE Corporation, shall also have the right to subscription. KONE Capital Oy can later transfer the option rights to key personnel of KONE Group. Deviation from the shareholders’ pre-emptive right to subscription is proposed, as the option program constitutes a part of the incentive plan of the Group, and a weighty financial reason for the Company thus exists.

Some of the persons entitled to subscribe belong to the inner circle of the Company. Prior to the granting of the option rights entitling to new issue the persons belonging to this group own directly a total of 0.16 per cent of the share capital of the Company and a total of 0.07 per cent of the votes carried by all shares and indirectly 31.46 per cent of the share capital and 66.59 per cent of the voting rights. If the persons belonging to the inner circle exchange their temporary option certificates into option rights and if shares are subscribed for based on all of these option rights, the persons belonging to this group and entitled to subscribe for shares own directly a total of 0.25 per cent of the share capital of the Company and a total of 0.13 per cent of the votes carried by all shares and indirectly 31.55 per cent of the share capital of the Company and 66.63 per cent of the votes carried by all shares of the Company.

d. The subscription period in respect of the option rights is from 1 March, 2004 to 19 March, 2004. The option rights will be given free of charge and they shall be issued in the book-entry system.

e. The option rights have been divided into A and B option rights. The maximum number of A option rights is of 180,000, and the maximum number of B option rights is 170,000.

Option rights entitle the holders to subscribe for shares subject to the development of the KONE Group’s cumulative net income (after taxes), as shown in the Consolidated Statement of Income over a three-year (3) period (2001-2003) as follows:

Minimum Accumulated Income Level for exercising the option rights and bonuses	Cumulative number of option rights in use
330 M euros	70,000
350 M euros	140,000
380 M euros	210,000
420 M euros	280,000
470 M euros	350,000

Where income targets are not achieved, the option rights shall expire without value.

f. The A option rights are issued to be subscribed for by the key persons, who have received the temporary option certificates entitling to the A option rights pursuant to the option program approved on 17 November, 2000. The B option rights are issued to be subscribed for by KONE Capital Oy. KONE Capital Oy shall exchange the option rights to temporary option certificates received pursuant to the option program approved on 17 November, 2000, subsequent to the commencement of the share subscription period with the B option rights, i.e., as of 1 April, 2005.

The meeting of the net income targets and the right to the option rights become evident subsequent to the approval of the financial statements concerning the year 2003 of KONE Group in the Shareholders’ Meeting.

g. A separate cash bonus of 40 euros pertains to the A option rights provided that the income targets in conformity with the option program have been reached.

h. Shares may be subscribed for on the basis of the option rights annually between January 2 and November 30 on dates to be determined by the Board of Directors of the Company. In respect of the A option rights the subscription period commences on 1 April, 2004 and ends on 31 March, 2008. In respect of the B option rights the subscription period commences on 1 April, 2005 and ends on 31 March, 2009.

In accordance with the option program approved 17 November, 2000 the subscription price of a share is the trade volume weighted average price of class B shares on the Helsinki Stock Exchange between 1.8.2000 and 23.10.2000 increased by 10 per cent. The subscription price, thus, is EUR 24.67 per share.

Information

Copies of documents concerning the financial statements, the Board of Directors´ proposal to repurchase the Company’s own shares and the use of repurchased shares as well as documents concerning the option program may be inspected by the shareholders one week prior to the Annual General Meeting at the headquarters of the Company at Kartanontie 1, Helsinki and on the Company’s internet site www.kone.com/agm.

Right to participate

In order to take part in the Annual General Meeting, shareholders must be registered in the shareholders’ register maintained by the Finnish Central Securities Depository by 17 February, 2004. Shareholders who have placed their shares in trust must temporarily re-register the shares in their own names in order to participate in the meeting. Such re-registration must be made by 17 February, 2004.

A shareholder may attend and vote at the meeting in person or by proxy. However, in accordance with Finnish practice the Company does not send forms of proxy to its shareholders. Shareholders wishing to vote by proxy should submit their own forms of proxy to the Company.

Notifying of participation

A shareholder who wishes to participate in the Annual General Meeting must notify the Company not later than 23 February, 2004 before 4:00 p.m. Notification can be done as follows:
- by mail at address: KONE Corporation, Kartanontie 1, 00330 Helsinki
- by telefax: + 358 20 475 4309
- by telephone: +358 20 475 4332 / Ulla Silvonen
- by using the electronic registration form available on address www.kone.com/agm

Shareholders are also requested to notify the Company of any proxies for the Annual General Meeting so that they are in Company´s possession by 23 February, 2004.

Helsinki, 19 December, 2003

The Board of Directors

The Board of Directors’ proposal that the Shareholders’ Meeting would confirm the option program, which will implement the decision by the Extraordinary General Meeting of Shareholders on 17 November, 2000 to issue option rights to the key personnel of KONE Group was approved. The grant of option rights pursuant to the terms and conditions of the option program was connected to the development of KONE Group’s aggregated net income (after taxes) during a three year period (2001 to 2003) shown in the Consolidated Financial Statements.

The Annual General Meeting confirmed that the conditions precedent for the option program have been met because KONE’s aggregated net income according to the Consolidated Financial Statements for 2001-2003 exceeded EUR 470 million. A maximum of 350,000 options rights will be issued in accordance with the program, and they will confer the right to subscribe to a maximum of 540,000 class B shares from 1 April, 2004 and a maximum of 510,000 class B shares from 1 April, 2005. The option program also includes a cash bonus totaling no more than EUR 7.2 million.

THE TERMS AND CONDITIONS OF THE OPTION PROGRAM

1 Number of Option Rights

A maximum number of 350,000 option rights shall be given. The option rights entitle to subscribe for a maximum number of 1,050,000 class B shares in KONE Corporation (the ”Company”).

2 Classification of Option Rights

The option rights have been marked with either letter A or B. The number of A option rights is 180,000, and the number of B option rights is 170,000. A and B option rights are divided into 5 categories as defined below. In addition to the right to subscribe for shares the hold-ers of A option rights are entitled to a separate cash bonus. The receiving of option rights and the exercising of the subscription right is subject to the profit level of the KONE Group as described in Article 11 below.

3 Who Can Subscribe

Deviating from the Shareholders’ pre-emptive right to subscription, the option rights are of-fered for subscription to key personnel of the KONE Group determined by the Board of Di-rectors. KONE Capital Oy (the ”Subsidiary Company”), a wholly owned subsidiary of KONE Corporation, shall also have the right to subscription. KONE Capital Oy can later transfer the option rights to persons designated by the Company and employed by the KONE Group. The Company shall decide upon the number of option rights to be offered to each key person and to the Subsidiary Company. The Board of Directors has given temporary option certificates to the key persons entitled to option rights.

Deviation from the shareholders’ pre-emptive right to subscription is proposed, as the op-tion program constitutes a part of an incentive plan of the Group and a weighty financial reason for the Company thus exists.

4 Subscription and Entering into Book-entry System

Persons having the right to subscribe for option rights shall be sent a letter regarding the right to subscription.

The subscription period in respect of the option rights is from 1 March 2004 to 19 March 2004.

The subscription of the A option rights shall be carried out by returning the temporary op-tion certificate entitling to the subscription of the option rights to the Company by the end of the subscription period, or, in the event the temporary option certificate is missing, an ac-ceptable clarification of the right to the option rights. The option rights shall be entered into the book entry account of the subscriber.

The B option rights will be issued to be subscribed for by the Subsidiary Company and they will be entered into the book-entry account of the Subsidiary Company. The Subsidiary Company shall exchange the option rights to the temporary option certificates entitling to them, once the subscription period with the B option rights commences. The Subsidiary Company shall transfer the option rights only to the key persons determined by the Board of Directors or to another company belonging to the same Group.

The option rights will be given free of charge.

The option rights shall be issued in the book-entry system. The Board of Directors will de-cide on the relevant procedure.

In the event the holder of a temporary option certificate does not use the right to subscribe for option rights, the right to the option rights shall lapse.

5 Approval of Subscriptions

The Board of Directors of KONE Corporation shall decide on the approval of subscriptions.

6 Option rights

KONE Corporation shall issue a maximum of 350,000 option rights. Each option right enti-tles to subscribe for three (3) class B shares in KONE Corporation.

7 Cash Bonus

Each A option right entitles to a separate cash bonus of 40 euros provided that the income targets listed in Article 11 have been reached. The cash bonus will be paid during April, 2004.

8 Prohibition of Transfer and Termination of Employment

The temporary option certificates and the rights related thereto shall not be transferred or pledged to a third party without the permission of the Board of Directors of the Company.

Should the employment of a holder of a temporary option certificate entitling to option rights in the KONE Group be terminated prior to the commencement of the share subscription pe-riod, he or she shall lose the right to obtain option rights and, thus, the right to subscribe for shares and cash bonus. The temporary option certificates must be returned to the Com-pany immediately without compensation.

Should the reason for termination of employment be retirement, disability or death, the Board of Directors of the Company may accept the exercise of the temporary option certifi-cate to subscribe for option rights on a case-by-case basis.

9 Transfer of Option Rights

The option rights are freely transferable once entered into the book-entry account of the option right holder.

TERMS AND CONDITIONS OF SHARE SUBSCRIPTION

10 Right to Subscription for New Shares

Each option right shall give its holder the right to subscribe for three (3) class B shares in KONE Corporation with a nominal value of one (1) euro. The maximum increase in the share capital of the Company as a result of subscriptions shall be 1,050,000 euros corre-sponding to 1,050,000 new shares.

11 Subscription and Payment

The option rights have been divided into A and B option rights. The A issue consists of 180,000 option rights and the B issue consists of 170,000 option rights. The A and B option rights have been further divided into five (5) equally large categories. In respect of A option rights the number of option rights in each category is 36,000 and in respect of B option rights 34,000.

The option rights entitle to subscribe for shares subject to the development of the Corpora-tion’s cumulative net income (after taxes and minority shares), as shown in the Consoli-dated Statement of Income over a three-year (3) period (2001-2003) as follows:

	A options number of option rights	B options number of option rights	Minimum Accumulated Income Level for exercising the option rights and bonuses	Cumulative number of option rights in use
1-category	36.000	34.000	330 M euros	70.000
2-category	36.000	34.000	350 M euros	140.000
3-category	36.000	34.000	380 M euros	210.000
4-category	36.000	34.000	420 M euros	280.000
5-category	36.000	34.000	470 M euros	350.000
Total	180.000	170.000		350.000

Should the cumulative net income target set for the option categories (1-5) not be attained due to a corporate acquisition, arrangement or some other comparable significant change, the Board of Directors shall estimate to what extent the income targets would have been met without those significant changes.

When the KONE Group’s Annual General Meeting has confirmed the 2003 Annual State-ment of Income and the cumulative three-year net income is known, the Company shall ex-change the issued temporary option certificates to the amount of option rights required on the basis of the result. Where income targets are not achieved, the option rights shall ex-pire without value.

The temporary option certificates entitling to the A option rights shall be exchanged to op-tion rights as described above in Article 4 and the temporary option certificates entitling to the B option rights as of 1 April 2005.

The shares can be subscribed annually from 2 January to 30 November on the dates sepa-rately defined by the Board of Directors. In respect of the A option rights the subscription period commences on 1 April 2004 and ends on 31 March 2008. In respect of the B option rights the subscription period commences on 1 April 2005 and ends on 31 March 2009.

The subscription of the shares shall take place at the Headquarters of KONE Corporation or another location to be announced later by the Company. Shares shall be paid for at the time of subscription. The option rights used for share subscription will be removed from the subscriber's book-entry account.

12 Subscription Price of Shares

The subscription price of a share shall be the trade volume weighted average price of class B shares on the Helsinki Stock Exchange between 1 August 2000 and 23 October 2000 increased by 10 per cent and rounded off to the nearest euro. The subscription price, thus, is EUR 24.67.

13 Registration of Shares

Subscribed and fully paid shares shall be entered into the book-entry account of the sub-scriber.

The Board of Directors of the Company approves subscriptions at its regular meetings and is responsible for registration of the increases in share capital based on the approved sub-scriptions without delay as well as to make the new shares subject to trade on Helsinki Stock Exchange. However, the Board of Directors has no obligation to accept subscriptions made between January 1 and the Annual General Meeting.

14 Shareholders’ Rights

The shares acquired shall first qualify for dividend payment for the financial year during which the subscription has taken place. Other rights related to the shares shall commence on the date when the increase in the share capital is entered in the Trade Register.

15 Issues of shares, convertible bonds, option rights and other financial instruments entitling to shares prior to the end of the period of subscription

Should the Company, prior to the end of the subscription period for shares, increase its share capital through a share issue or issue new convertible bonds or option rights or other financial instruments entitling to shares according to the Companies Act so that sharehold-ers have pre-emptive rights to subscription, holders of option rights shall have the same or equal rights as the shareholders. The equality among shareholders shall be addressed by the Board of Directors of the Company through amending the number of shares to be sub-scribed, the subscription price or both.

Should, prior to the end of the subscription period, the Company increase its share capital through a bonus issue, the subscription ratio will be amended so that the proportionate part of the share capital of the shares to be subscribed based on the option rights remains un-changed.

Should the new number of shares to be subscribed based on one option right be a fraction, the fraction will be taken into consideration by lowering the subscription price.

16 Rights in Certain Situations

Should, prior to the end of the subscription period, the Company reduce its share capital, the right to subscription of the holders of option rights shall be amended accordingly in a manner specified in the decision to reduce share capital.

Should, after the share subscription period has begun, the Company decide to acquire its own shares by an offer made to all shareholders of the Company, an equal offer has to be made to the holders of option rights. In other cases, the acquisition of the Company’s own shares does not require any actions from the Company towards the option right holders.

In the event that a situation under Chapter 14, Section 19 of the Companies Act or a re-demption obligation to other shareholders’ shares set forth in Chapter 6, Section 6 of the Securities Markets Act arises, the holders of option rights shall be reserved an opportunity to use their right for subscription during the time period set by the Board of Directors. After such time no subscription right shall exist.

Should the share of the Company, before the end of the subscription period, cease to be publicly traded on the Helsinki Exchanges, an opportunity to use subscription rights within a time stipulated by the Board shall be reserved to the holders of the option rights before the trading of the Company's shares ends. Once the trading ends, the right to subscribe for shares with the option rights shall lapse.

Should the Company, before the share subscription period ends, be set into liquidation, the option holders shall be reserved an opportunity to use their subscription right before the commencement of the liquidation within a time stipulated by the Board of Directors. After this no subscription rights shall exist.

Should the Company decide to merge into another company or in a company to be formed in a combination merger or if the Company resolves to be divided, the Company or the company acquiring or the company to be formed in the combination merger (conditionally) and its Board of Directors may decide to offer an exchange of the option rights of the Com-pany to new issued option rights to be exchanged on equivalent terms following the rele-vant terms and conditions on the shares of the Company at the merger or division. If the exchange of option rights to new, equivalent option rights is being offered the option right holder has no right to request redemption of the option rights as allowed under the Compa-nies Act. At a merger or division the Board of Directors also has the right to decide on that the option right holder shall be given a right to subscribe for the shares during a time stipu-lated by the Board of Directors before the actual merger or division. After such time no sub-scription right shall exist.

Should the nominal value of shares be amended so that the share capital remains un-changed, these terms and conditions of subscription shall be amended so that the total nominal value of shares to be subscribed and the total subscription price remain un-changed.

Should the Company change from public limited liability company to private limited liability company, the terms and conditions of option rights shall remain unchanged unless the law requires otherwise.

17 Applicable Law

This option program shall be subject to and governed by Finnish law.

18 Disputes

Any dispute, controversy or claim arising out of or relating to this option program shall be finally settled by arbitration in accordance with the Rules of Arbitration of the Finnish Cen-tral Chamber of Commerce. Arbitration shall take place in English in Helsinki.

19 Other Issues

The Board of Directors of the Company shall decide on all other matters relating to these option rights or to subscription. Copies of the option rights program shall be available for inspection at the Headquarters of KONE Corporation in Helsinki.

The English translation of the original Finnish language Terms and Conditions of KONE Corporation Option Program is unofficial. In the event of any inconsistency, reference should be made to the Finnish language version of the Terms and Condi-tions of KONE Corporation Option Program.

Chairman of the Board of Directors and Ordinary as well as Deputy Members of the Board are elected by the General Meeting of Shareholders.

The term of office of the Board of Directors shall expire at the end of the first Annual General Meeting of Shareholders following the election.

KONE Nomination Committee’s Proposal for Composition of Board

KONE Corporation’s Nomination Committee proposes to KONE Corporation’s Annual General Meeting on 27 February, 2004 that the number of Board members be increased from six to seven.

The Committee proposes that Sirkka Hämäläinen and Masayuki Shimono be elected as new members. The previous occupations of D.Sc. (Econ.) Sirkka Hämäläinen include membership on the Board of the European Central Bank. Masayuki Shimono is a graduate of the University of Kansai, and is executive vice president and general manager of International Operations for KONE’s alliance partner Toshiba Elevator and Building System Corporation (TELC). Board member Hiroshi Nishioka, president and CEO of TELC, will not stand for re-election.

The committee proposes that Antti Herlin be re-elected Chairman of the Board and that the following members be re-elected: Gerhard Wendt, Iiro Viinanen, Jean-Pierre Chauvarie and Matti Alahuhta.

The term of the board ends at the next Annual General Meeting.

Tapio Hakakari will continue as secretary to the Board.

Stock Exchange Release (Feb 20, 2004)

1. Matters Relating to the Annual General Meeting

KONE Corporation’s Annual General Meeting was held in Helsinki on 27 February, 2004. The meeting approved the 2003 financial statements and discharged the responsible parties from liability for the financial year.

The Annual General Meeting approved dividends of EUR 1.98 for each of the 9,526,089 class A shares and EUR 2.00 for the 53,104,052 outstanding class B shares. The date of record for dividend distribution is 3 March, 2004, and dividends will be payable on 10 March, 2004. The rest of the distributable equity, EUR 743.6 million, will be retained and carried forward.

The number of members of the Board of Directors was confirmed at seven. Antti Herlin was re-elected as chairman of the Board. Re-elected as full members of the Board were Matti Alahuhta, Jean-Pierre Chauvarie, Iiro Viinanen and Gerhard Wendt. Sirkka Hämäläinen and Masayuki Shimono were elected as new members of the Board.

Authorized public accountants Jukka Ala-Mello and PricewaterhouseCoopers Oy were nominated as auditors with authorized public accountants Niina Raninen and Barbro Löfqvist as deputies.

Board of Directors

2. Authorization to Acquire and Distribute Own Shares

The Board of Directors’ proposal that the Annual General Meeting authorize the Board of Directors to repurchase KONE’s own shares with assets distributable as profit was approved. The number of shares to be repurchased shall not exceed 3,173,180 shares (maximums: 476,304 class A shares and 2,696,876 class B shares), respecting the provisions of the Companies Act regarding the maximum number of own shares held by the company.

In addition, the Board of Directors’ proposal that the Annual General Meeting authorize the Board of Directors to decide on the distribution of any shares repurchased by the company was approved. The company’s repurchased shares shall be used as compensation in possible acquisitions and other arrangements as well as to develop the company’s capital structure. The Board of Directors is authorized to decide to whom and in which order the repurchased shares will be distributed. The Board of Directors has the right to distribute the repurchased shares in a way that deviates from the existing pre-emptive right of shareholders to purchase the company’s own shares. The shares shall be distributed at no less than the market price quoted for class B shares on the Helsinki Exchanges at the moment of their transfer.

These authorizations shall remain in effect for a period of one year from the date of decision of the Annual General Meeting. Precise information about the authorization to acquire and distribute own shares can be found in the invitation to the Annual General Meeting.

3. Confirmation of the Option Program

The Board of Directors’ proposal that the Shareholders’ Meeting would confirm the option program, which will implement the decision by the Extraordinary General Meeting of Shareholders on 17 November, 2000 to issue option rights to the key personnel of KONE Group was approved. The grant of option rights pursuant to the terms and conditions of the option program was connected to the development of KONE Group’s aggregated net income (after taxes) during a three year period (2001 to 2003) shown in the Consolidated Financial Statements.

The Annual General Meeting confirmed that the conditions precedent for the option program have been met because KONE’s aggregated net income according to the Consolidated Financial Statements for 2001-2003 exceeded EUR 470 million. A maximum of 350,000 options rights will be issued in accordance with the program, and they will confer the right to subscribe to a maximum of 540,000 class B shares from 1 April, 2004 and a maximum of 510,000 class B shares from 1 April, 2005. The option program also includes a cash bonus totaling no more than EUR 7.2 million.

Additional information about the option program can be found in the invitation to the Annual General Meeting. See also The Terms And Conditions Of The Option Program.

Decisions Taken at KONE Corporation's Annual General Meeting (Stock Exchange Release Feb 27, 2004)

Presentations at KONE Corporation Annual General Meeting were held in Finnish. Presentations are available from the links below.

•   Varsinainen yhtiökokous (general presentation)

•  Hallituksen esitykset (Board proposals)