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Nokia Annual General Meeting
March 17, 1999
The Annual General Meeting (AGM) of Nokia Corporation held on March 17, 1999 resolved to distribute a dividend of FIM 5.75 per share for 1998 in accordance with the proposal of the Board of Directors. The record date for the dividend is March 22, 1999 and the dividend will be paid as of starting March 30, 1999.
The following persons were re-elected to the Nokia Board of Directors: Pirkko Alitalo, Edward Andersson, Paul J. Collins, Jouko K. Leskinen, Jorma Ollila, Robert F. W. van Oordt, Vesa Vainio and Iiro Viinanen. Bengt Holmström was elected to the Board of Directors as a new member.
The AGM resolved to amend the Articles of Association according to the proposal by the Board of Directors. The share capital and the nominal value of the shares were converted into euros and the nominal value of the shares was split into two. The AGM also resolved to increase the share capital through a bonus issue as a result of the change in the nominal value. The new nominal value of the Nokia share is EUR 0.24. Trading in Nokia shares on the basis of the new nominal value will commence on April 12, 1999. At the same time the stock exchanges will cease trading A shares and K shares separately, based on the AGM´s decision to consolidate the two classes of shares.
The AGM approved the Board's proposal concerning the new stock option plan. According to the plan, stock options will be offered to approximately 3 500 Nokia key persons. There are three groups of stock options marked with the letter "A", "B" and "C", each including 12 million stock options entitling the holder to subscribe for one Nokia share with the nominal value of EUR 0.24. The subscription period for stock option "A" will commence on April 1, 2001, for "B" on April 1, 2002 and for "C" on April 1, 2003, and it will end on December 31, 2004 for all the stock options. The subscription price for the stock option "A" is EUR 67.55, and for the stock option "B" and "C" the trade volume weighted average price of the Nokia share on the Helsinki Exchanges during the last five trading days in March 2000 and 2001, respectively.
According to the Board´s proposal, the AGM also authorized the Board to decide on an increase of the share capital by a maximum of EUR 28.8 million in one or more issues offering a maximum of 120 million new shares with a nominal value of EUR 0.24. The shares to be issued will be used to finance possible business acquisitions or corresponding arrangements.
The AGM also resolved to increase the capital of the Nokia Corporation Foundation by EUR 3 million to EUR 8.05 million. The Foundation supports the scientific development of data and telecommunication technology and educational activities in Finland.
Nokia is the world's leading mobile phone supplier and a leading supplier of mobile and fixed telecom networks including related customer services. Nokia also supplies solutions and products for fixed and wireless datacom, as well as multimedia terminals and computer monitors. In 1998, net sales totaled FIM 79.2 billion (USD 15.7 billion, EUR 13.3 billion). Headquartered in Finland, Nokia is listed on five European Stock Exchanges and on the New York Stock Exchange (NOK.A), has sales in over 130 countries and employs more than 44,000 people worldwide.
Contact information:
Nokia Corporate Communications
Tel. +358 9 1807 406
Fax +358 9 652 409
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