KONE Corporation, stock exchange release, March 15, 2017 at 9.45 a.m. EET
KONE Corporation applies for listing of its 2015 stock
KONE Corporation will apply for the listing of its 2015 stock options on the Nasdaq Helsinki Ltd. so that the listing begins as of April 3, 2017.
The total number of the 2015 stock options is 1,500,000. Each option right entitles its holder to subscribe for one (1) class B share. In total, the 2015 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 130,000 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 2015 stock options is EUR 32.05 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 2015 stock options plan have been met and resolved that the share subscription period will begin on April 3, 2017 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, 2019. The place of subscription will be Evli Bank Plc.
The reasons to grant the 2015 stock options and the original terms and conditions have been published by a stock exchange release on December 18, 2014. The updated, full version of the terms and conditions of the 2015 stock options is available on the company's website at www.kone.com.
The share subscription timetable with the option rights 2015 in 2017 is as follows:
|Last subscription date||Estimated registration date||Estimated listing date|
|April 20, 2017||May 11, 2017||May 12, 2017|
|July 13, 2017||August 1, 2017||August 2, 2017|
|October 19, 2017||November 7, 2017||November 8, 2017|
|December 14, 2017||December 29, 2017||January 2, 2018|
The Board will not handle share subscriptions between the end of the financial year 2017 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
At KONE, our mission is to improve the flow of urban life. As a global leader in the elevator and escalator industry, KONE provides elevators, escalators and automatic building doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle. Through more effective People Flow®, we make people's journeys safe, convenient and reliable, in taller, smarter buildings. In 2016, KONE had annual net sales of EUR 8.8 billion and at the end of the year over 52,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland.