Issue of new shares of Suominen Corporation without consideration to the company itself
Helsinki, Finland, 2013-07-17 07:50 CEST (GLOBE NEWSWIRE) --
Suominen Corporation Stock Exchange Release 17 July 2013 at 8.50 (EEST)
ISSUE OF NEW SHARES OF SUOMINEN CORPORATION WITHOUT CONSIDERATION TO THE COMPANY ITSELF
The Board of Directors of Suominen Corporation has, based on the authorization granted by the Annual General Meeting of Shareholders on 26 March 2013, resolved on the issuance of 2,000,000 new shares to the company itself without consideration in accordance with chapter 9 section 20 of the Companies Act. The shares are of the same class as the company’s other shares and entitle to the same shareholder rights as the company’s old shares after their registration.
The total number of the company’s shares after the share issue is 247,934,122 shares, of which 2,060,298 shares are held by the company.
The new shares are estimated to be registered in the trade register on 15 August 2013, after which the company will without delay apply for the admission of the shares to public trading on the stock exchange list of NASDAQ OMX Helsinki Oy.
The purpose of the issue of shares to the company itself is to have own shares held by the company available for the payment of the portion of the annual remuneration of the Members of the Board of Directors, which shall be paid in shares of the company and for the payment of the share rewards possibly payable based on the company’s share based incentive plan. The share rewards possibly payable based on the company’s current share based incentive plan for the years 2012 – 2014 will be paid in the year 2015.
Board of Directors
For more information, please contact:
Tapio Engström, CFO of Suominen Corporation and Secretary to the Board of Directors, tel. +358 10 214 300
Suominen in brief
Suominen supplies its industrial and retail customers with nonwovens and flexible packaging for use in consumer products worldwide. Suominen is the global market leader in nonwovens for wipes. The company employs more than 1,000 people in Europe and in the United States. In 2012, the net sales amounted to MEUR 410.4 and operating profit excluding non-recurring items was MEUR 12.9 (continuing operations). The Suominen share (SUY1V) is listed in NASDAQ OMX Helsinki Stock Exchange. Read more at www.suominen.fi.
NASDAQ OMX Helsinki Ltd.