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THE STATE OF FINLAND SUBSCRIBED THE SHARES AND KONE CORPORATION APPOINTED KONE FINANCE CORPORATION AS PURCHASER OF PART OF THE SHARES IN PARTEK CORPORATION
The Extraordinary General Meeting of Kone Corporation have on 14 June 2002 approved the Board proposal concerning an increase of the share capital. The trade with the new shares starts on 17 June 2002 instead of the previously announced date of 18 June 2002.
INCREASE OF SHARE CAPITAL
The General Meeting resolved, in accordance with the Board proposal, to increase the share capital of the company by a new issue of shares of 3,000,000 euro from 60,463,620 euro to 63,463,620 euro by issuing 3,000,000 class B-shares having a nominal value of one (1) euro each.
Deviating from the shareholders' pre-emptive subscription rights under Chapter 4 Section 2 of the Companies Act, the new shares are offered for subscription to the State of Finland. The subscription period commences on 14 June 2002 and ends on 21 June 2002. The subscription price for the new shares is 35.33 euro per share equalling a total of 105,990,000 euro.
The payment of the subscription price is made so that the State of Finland transfers to the company 6,927,451 Partek Corporation shares as contribution in kind.
The Board of Directors decides in other matters related to the increase of the share capital in accordance with the Board proposal
SUBSCRIPTION OF SHARES
The State of Finland/Ministry of Trade and Industry has on 14 June 2002 approved the terms and conditions of the subscription as presented in the minutes of the Extraordinary General Meeting and the Board proposal and has subscribed those to the State directed 3,000,000 class B-shares in Kone Corporation at the subscription price of 105,990,000 euro. The subscription price has been paid.
KONE FINACE CORPORATION PURCHASES 7,794,384 SHARES IN PARTEK CORPORATION
Kone Corporation has appointed Kone Finance Corporation to purchase 7,794,384 shares of the 14,721,835 shares in Partek Corporation that the State of Finland has sold according to the agreements signed on 10 June 2002.
Secretary of the Board
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Phone: +358 204 75 4226 or +358 400 408 316