As previously announced, the Nokia Annual General Meeting held on
June 16, 2016 resolved to distribute a special dividend of EUR 0.10
per share in addition to an ordinary dividend of EUR 0.16 per share
for the financial year 2015. Since dividends are not paid on
unvested long-term incentives received under the equity plans, the
Board of Directors has decided to neutralize the impact of the
extraordinary shareholder distributions to the participants holding
unvested long-term incentives by approving an adjustment to the
original grant amount of all unvested Performance and Restricted
Shares to the participants. Similarly under the terms and
conditions of Nokia's Stock Option Plan 2011, the exercise price of
Nokia stock options will be adjusted due to the special dividend by
deducting the amount of the special dividend from the exercise
price.
The ordinary dividend does not result in adjustment of long-term
incentives.
The adjustments could result in a maximum additional pay-out of
750 729 Nokia shares, in the event that maximum performance against
all the performance criteria of the Performance Share Plans is
achieved under the plans where performance period has not yet
ended. The additional awards vest in accordance with the applicable
plan terms and conditions, which means that they are subject to the
applicable performance criteria and holding periods.
Further, the Board decided to increase the planned maximum
number of Restricted Shares to be granted under the Nokia Equity
Program 2016 to 5 840 000.
Following the adjustment of the equity plans due to special
dividend and the increase in the planned maximum number of
Restricted Shares to be granted under the Restricted Share Plan
2016, the maximum number of shares that could be issued under
Nokia's equity plans and stock option rights currently outstanding
represents approximately 1.83% of Nokia's current total number of
shares (excluding the shares owned by Nokia Corporation).
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.
www.nokia.com
ENQUIRIES
Media Enquiries: Nokia Communications Tel. +358 (0) 10
448 4900 Email: press.services@nokia.com
Investor Enquiries: Nokia Investor Relations Tel. +358
4080 3 4080 Email: investor.relations@nokia.com
FORWARD-LOOKING STATEMENTS
It should be noted that Nokia and its businesses are exposed to
various risks and uncertainties and certain statements herein that
are not historical facts are forward-looking statements, including,
without limitation, those regarding: A) our ability to integrate
Alcatel Lucent into our operations and achieve the targeted
business plans and benefits, including targeted synergies in
relation to the acquisition of Alcatel Lucent announced on April
15, 2015 and closed in early 2016; B) our ability to squeeze out
the remaining Alcatel Lucent shareholders in a timely manner or at
all to achieve full ownership of Alcatel Lucent; C) expectations,
plans or benefits related to our strategies and growth management;
D) expectations, plans or benefits related to future performance of
our businesses; E) expectations, plans or benefits related to
changes in our management and other leadership, operational
structure and operating model, including the expected
characteristics, business, organizational structure, management and
operations following the acquisition of Alcatel Lucent; F)
expectations regarding market developments, general economic
conditions and structural changes; G) expectations and targets
regarding financial performance, results, operating expenses,
taxes, cost savings and competitiveness, as well as results of
operations including targeted synergies and those related to market
share, prices, net sales, income and margins; H) timing of the
deliveries of our products and services; I) expectations and
targets regarding collaboration and partnering arrangements, as
well as our expected customer reach; J) outcome of pending and
threatened litigation, arbitration, disputes, regulatory
proceedings or investigations by authorities; K) expectations
regarding restructurings, investments, uses of proceeds from
transactions, acquisitions and divestments and our ability to
achieve the financial and operational targets set in
connection with any such restructurings, investments, divestments
and acquisitions; and L) statements preceded by or including
"believe," "expect," "anticipate," "foresee," "sees," "target,"
"estimate," "designed," "aim," "plans," "intends," "focus,"
"continue," "project," "should," "will" or similar expressions.
These statements are based on the management's best assumptions and
beliefs in light of the information currently available to it.
Because they involve risks and uncertainties, actual results may
differ materially from the results that we currently expect.
Factors, including risks and uncertainties, that could cause such
differences include, but are not limited to: 1) our ability to
execute our strategy, sustain or improve the operational and
financial performance of our business or correctly identify or
successfully pursue business opportunities or growth; 2) our
ability to achieve the anticipated business and operational
benefits and synergies from the Alcatel Lucent transaction,
including our ability to integrate Alcatel Lucent into our
operations and within the timeframe targeted, and our ability to
implement our organization and operational structure efficiently;
3) our ability to complete the purchases of the remaining
outstanding Alcatel Lucent securities and realize the benefits of
the public exchange offer for all outstanding Alcatel Lucent
securities; 4) our dependence on general economic and market
conditions and other developments in the economies where we
operate; 5) our dependence on the development of the industries in
which we operate, including the cyclicality and variability of the
telecommunications industry; 6) our exposure to regulatory,
political or other developments in various countries or regions,
including emerging markets and the associated risks in relation to
tax matters and exchange controls, among others; 7) our ability to
effectively and profitably compete and invest in new competitive
high-quality products, services, upgrades and technologies and
bring them to market in a timely manner; 8) our dependence on a
limited number of customers and large multi-year agreements; 9)
Nokia Technologies' ability to maintain and establish new sources
of patent licensing income and IPR-related revenues, particularly
in the smartphone market; 10) our dependence on IPR technologies,
including those that we have developed and those that are licensed
to us, and the risk of associated IPR-related legal claims,
licensing costs and restrictions on use; 11) our exposure to direct
and indirect regulation, including economic or trade policies, and
the reliability of our governance, internal controls and compliance
processes to prevent regulatory penalties; 12) our reliance on
third-party solutions for data storage and the distribution of
products and services, which expose us to risks relating to
security, regulation and cybersecurity breaches; 13) Nokia
Technologies' ability to generate net sales and profitability
through licensing of the Nokia brand, the development and sales of
products and services, as well as other business ventures which may
not materialize as planned; 14) our exposure to legislative
frameworks and jurisdictions that regulate fraud, economic trade
sanctions and policies, and Alcatel Lucent's previous and current
involvement in anti-corruption allegations; 15) the potential
complex tax issues, tax disputes and tax obligations we may face in
various jurisdictions, including the risk of obligations to pay
additional taxes; 16) our actual or anticipated performance, among
other factors, which could reduce our ability to utilize deferred
tax assets; 17) our ability to retain, motivate, develop and
recruit appropriately skilled employees; 18) our ability to manage
our manufacturing, service creation, delivery, logistics and supply
chain processes, and the risk related to our geographically
concentrated production sites; 19) the impact of unfavorable
outcome of litigation, arbitration, agreement-related disputes or
allegations of product liability associated with our businesses;
20) exchange rate fluctuations; 21) inefficiencies, breaches,
malfunctions or disruptions of information technology systems; 22)
our ability to optimize our capital structure as planned and
re-establish our investment grade credit rating or otherwise
improve our credit ratings; 23) uncertainty related to the amount
of dividends and equity return we are able to distribute to
shareholders for each financial period; 24) our ability to achieve
targeted benefits from or successfully implement planned
transactions, as well as the liabilities related thereto; 25) our
involvement in joint ventures and jointly-managed companies; 26)
performance failures by our partners or failure to agree to
partnering arrangements with third parties; 27) our ability to
manage and improve our financial and operating performance, cost
savings, competitiveness and synergy benefits after the acquisition
of Alcatel Lucent; 28) adverse developments with respect to
customer financing or extended payment terms we provide to
customers; 29) the carrying amount of our goodwill may not be
recoverable; 30) risks related to undersea infrastructure; 31)
unexpected liabilities with respect to pension plans, insurance
matters and employees; and 32) unexpected liabilities or issues
with respect to the acquisition of Alcatel Lucent, including
pension, postretirement, health and life insurance and other
employee liabilities or higher than expected transaction costs as
well as the risk factors specified on pages 69 to 87 of our annual
report on Form 20-F filed on April 1, 2016 under "Operating and
financial review and prospects-Risk factors", as well as in Nokia's
other filings with the U.S. Securities and Exchange Commission.
Other unknown or unpredictable factors or underlying assumptions
subsequently proven to be incorrect could cause actual results to
differ materially from those in the forward-looking statements. We
do not undertake any obligation to publicly update or revise
forward-looking statements, whether as a result of new information,
future events or otherwise, except to the extent legally
required.
HUG#2021478
Nokia (NYSE:NOK)
Historical Stock Chart
From Feb 2024 to Mar 2024
Nokia (NYSE:NOK)
Historical Stock Chart
From Mar 2023 to Mar 2024