KONE Sold All Own Shares in its Possession

KONE Corporation has on 10 December, 2004, in accordance with the authorization approved by KONE’s annual general meeting on 27 February, 2004, sold all of its 2,696,876 class B shares that were in the company’s possession as a contractual trade on the Helsinki Stock Exchange. The price was EUR 56.00 per share and the total transaction value was approximately EUR 151 million.
The sold shares represent 4.24 percent of KONE’s share capital. The shares were acquired in accordance with the decisions of KONE’s 2003 and 2004 annual general meetings to the average price of EUR 43.18 per share.
KONE’s board of directors decided on 1 December, 2004 to assign class B shares held by the company and to use the proceeds in financing the acquisition of MacGREGOR Group.
Sender:
KONE Corporation
Tapio Hakakari
Director, Secretary to the Board of Directors
Minna Mars
Senior Vice President, Corporate Communications & IR
For further information, please contact:
Tapio Hakakari, Director, Secretary to the Board of Directors, tel. +358 (0)400 408 316
Aimo Rajahalme, Executive Vice President, Finance and Information Services, tel. +358 (0)204 75 4484
www.konecorp.com