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Nokia's Board of Directors to propose changing par values of shares, renaming of shares and offering bonds with warrants to group management
February 28, 1995
The Nokia Board of Directors will propose to the Annual General Meeting of Shareholders, on 30 March 1995, that the par value of common and preferred shares be divided by four, i.e. from FIM 20 to FIM 5.
The Board of Directors shall also propose that the current preferred shares be renamed "A" shares and the current common share become "K" shares. The renaming is being proposed to avoid future confusion on international markets concerning the nature of the preferred share.
Additionally, Nokia's Board of Directors will propose an amendment to the description of the company's business contained in the Articles of Association. Also to be proposed is the offering of bonds with warrants to Group management members. Under this proposal, a maximum FIM 1.45 million bonds with warrants would be offered for subscription to members of Nokia Group management. The bonds are part of the incentive plan for the Group and its units' management and other key people.
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