Pekka Herlin has requested the conversion of 928,734 unlisted class A KONE Corporation shares he owns to class B shares listed on the Helsinki Exchanges in accordance with Section 5 of KONE Corporation's Articles of Association.
KONE's board of directors has today, 20 December, 2002, approved the conversion of shares in accordance with the demand. The conversion of the shares has been registered today in the Trade Register. It is estimated that the new class B shares will be open for trade from December 27, 2002.
Following the execution of the conversion KONE's share capital will
9,526,089 class A shares
53,937,531 class B shares
At the same time, in accordance with the Securities Market Act Chapter 2 Section 10, KONE Corporation notifies the following:
Following the execution of the conversion of shares, the share of
voting rights in KONE Corporation held by Pekka Herlin and companies or organizations in which he has a controlling interest declines from 74.53% to 73.11%. Voting rights conferred by KONE shares personally held by Pekka Herlin decline to less than one-twentieth of the total voting rights attached to shares or from 6.05% to 0.78%.
Secretary to the Board of Directors
Following the conversion, KONE Corporation shares controlled by Pekka Herlin are as follows:
|Class A shares||Class B shares||Votes||% of Shares||% of Votes|
|Holding Manutas Oy||6 785 574||145 890||6 800 163||10.92 %||45.58 %|
|Security Trading Oy||2 034 627||11 262 659||3 160 892||20.95 %||21.19 %|
|Pekka Herlin||0||1 170 111||117 011||1.84 %||0.78 %|
|Kone Foundation||705 888||1 232 454||829 133||3.05 %||5.56 %|
|Total||9 526 089||13 811 114||10 907 199||36.77 %||73.11 %|