Nokia Board of Directors resolved on a directed share issuance to Nokia employees participating in the Employee Share Purchas...
September 28 2016 - 2:03AM
Nokia announced that its Board of Directors has resolved on a
directed issuance of a maximum amount of 1 673 282 Nokia shares
(NOKIA) held by the company to Nokia employees participating in the
Employee Share Purchase Plan 2015. The savings period of the
Employee Share Purchase Plan 2015 ended on June 30, 2016. Under the
terms and conditions of the plan, Nokia will offer one matching
share for every two shares purchased under the plan which the
participant still held on July 31, 2016.
Additionally, the Board of Directors resolved on a directed
issuance of a maximum amount of 610 300 Nokia shares (NOKIA) held
by the company to Nokia employees participating in the Employee
Share Purchase Plan 2016. The savings period of the plan started on
July 1, 2016 and ends on June 30, 2017. The shares are issued to
deliver 20 free shares to every plan participant making the first
three consecutive monthly share purchases under the plan as
resolved by the Board of Directors when the plan was approved.
The shares are issued without consideration. As the issued
shares are held by the company, the total number of the company's
outstanding shares does not change as a consequence of the share
issuance. The shares under the Employee Share Purchase Plan 2015
will be delivered to the employees on or around October 19, 2016
and the shares under the Employee Share Purchase Plan 2016 on or
around November 16, 2016.
The Board of Directors approved the launch of the Employee Share
Purchase Plans 2015 and 2016 as part of the Nokia Equity Programs
on January 28, 2015 and February 10, 2016, respectively, to
encourage employee share ownership, commitment and engagement. The
resolution to issue shares is based on the authorization granted to
the Board of Directors by the Annual General Meeting on June 16,
2016.
About Nokia Nokia is a global leader in the
technologies that connect people and things. Powered by the
innovation of Nokia Bell Labs and Nokia Technologies, the company
is at the forefront of creating and licensing the technologies that
are increasingly at the heart of our connected lives.
With state-of-the-art software, hardware and services for any
type of network, Nokia is uniquely positioned to help communication
service providers, governments, and large enterprises deliver on
the promise of 5G, the Cloud and the Internet of Things.
http://nokia.com
Media Enquiries: Nokia Communications Tel. +358 (0) 10
448 4900 Email: press.services@nokia.com
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