In accordance with the terms and conditions of the stock option scheme and earlier announcement, the Board of Directors of Kemira Oyj has decided that the distribution of shares in Kemira GrowHow Oyj as an additional dividend will reduce the subscription price of shares under its stock option scheme by an amount corresponding to the volume-weighted average price of the Kemira GrowHow Oyj shares on the first day of trading, divided by four.
The volume-weighted average price of the Kemira GrowHow Oyj shares on October 14, 2004, was EUR 5.669164467. The calculation does not take into account the opening trades relating to the share offering. In accordance with the decision of the Board of Directors described above, the dividend per share amounts to EUR 1.4172911 which equals to the above volume-weighted average price, divided by four. Prior to the distribution of dividends, the subscription price per Kemira Oyj share was EUR 4.23. The new subscription price is EUR 2.81 (subscription price prior to the distribution of dividends of EUR 4.23 less one-fourth of the average price of the Kemira GrowHow Oyj shares on October 14, 2004, which was EUR 1.42). The subscription price of the new shares is higher than the account equivalent value of the company's share.
Additional information:
Kemira Oyj
Sami Koski, Group General Counsel
Tel. +358 (0)10 862 1639, gsm +358 (0)40 722 7575
The information contained herein is not for publication or distribution into the United States. The material set forth herein is for informational purposes only and is not intended, and should not be construed, as an offer of securities for sale into the United States. The securities described herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or the laws of any state, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state laws. There is no intention to register any portion of the offering in the United States or to conduct a public offering of securities in the United States.
The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities law of any such jurisdiction.