KONE Corporation applies for listing of its 2014 stock options
KONE Corporation, stock exchange release, March 15, 2016 at 9.30 a.m. EET
KONE Corporation applies for listing of its 2014 stock
KONE Corporation will apply for the listing of its 2014 stock options on the Nasdaq Helsinki Ltd. so that the listing begins as of April 1, 2016.
The total number of the 2014 stock options is 1,500,000. Each option right entitles its holder to subscribe for one (1) class B share. In total, the 2014 stock options entitle to subscribe for 1,500,000 class B shares of KONE Corporation, at maximum. KONE Corporation's subsidiary, KONE Capital Oy, has 132,000 stock options in its possession. KONE Corporation's Board of Directors has resolved, in accordance with the terms and conditions of the stock options, that the stock option holders will be offered new class B shares in the company.
The current subscription price for 2014 stock options is EUR 28.20 per share. The subscription price of the shares subscribed for by the stock options has been reduced in accordance with the terms and conditions by the amount of dividends declared before the share subscription at the record date for each dividend distribution.
KONE Corporation's Board of Directors has noted that the criteria of the 2014 stock options plan have been met and resolved that the share subscription period will begin on April 1, 2016 in accordance with the terms and conditions. The stock options may be freely transferred as of that date. The subscription period will end on April 30, 2018. The place of subscription will be Evli Bank Plc.
The reasons to grant the 2014 stock options and the original terms and conditions have been published by a stock exchange release on December 20, 2013. The updated, full version of the terms and conditions of the 2014 stock options is available on the company's website at www.kone.com.
The share subscription timetable with the option rights 2014 in 2016 is as follows:
|Last subscription date||Estimated registration date||Estimated listing date|
|April 14, 2016||May 3, 2016||May 4, 2016|
|July 13, 2016||August 2, 2016||August 3, 2016|
|October 20, 2016||November 8, 2016||November 9, 2016|
|December 15, 2016||December 30, 2016||January 2, 2017|
The Board will not handle share subscriptions between the end of the financial year 2016 and the subsequent Annual General Meeting.
For further information, please contact:
Jukka Ala-Mello, Secretary to the Board, tel. +358 (0)204 75 4226
Secretary to the Board
KONE is one of the global leaders in the elevator and escalator industry. KONE's objective is to offer the best People Flow® experience by developing and delivering solutions that enable people to move smoothly, safely, comfortably and without waiting in buildings in an increasingly urbanizing environment. KONE provides industry-leading elevators, escalators, automatic building doors and integrated solutions to enhance the People Flow in and between buildings. KONE's services cover the entire lifetime of a building, from the design phase to maintenance, repairs and modernization solutions. In 2015, KONE had annual net sales of EUR 8.6 billion, and at the end of the year close to 50,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland.