Kesko’s Board of Directors decided to approve the subscriptions of the warrants included in the warrant scheme provided to the upper and middle management of Kesko in 2000. There were two classes of warrants issued without consideration, warrants B and warrants C. The number of the B warrants was 3,825,000 and that of the C warrants 2,015,000. All the B and C warrants were subscribed during the subscription period.
Each warrant B and C entitles to the subscription of one B share of Kesko. On the basis of the warrants now subscribed, the number of the company’s B shares can increase by a maximum of 5,840,000 pcs and the share capital by a maximum of EUR 11,680,000. The share subscription period begins on 1 November 2002 for warrants B and on 1 November 2003 for warrants C, and ends on 31 March 2006 for all warrants. The share subscription price for warrant B shall be the trade volume weighted average price of Kesko’s B share on the Helsinki Exchanges during March 2000 with an addition of 15 percent, and for warrant C the corresponding average price of the B share during March 2001 with an addition of 15 percent. From the share subscription price shall be deducted the amount of the dividend distributed after the period for the determination of the share subscription price has ended but before the date of subscription of shares.
For further information, please contact CFO Juhani Järvi, telephone +358 1053 22209.
Kesko Corporation
Corporate Communications
Erkki Heikkinen
Director
