Fortum Corporation applies for the listing of the share warrants relating to the 1999 bond loan with warrants to employees

Fortum Corporation’s Board of Directors has decided to apply for the share warrants relating to the bond loan with warrants offered to the employees in 1999 to be traded in the main list of the Helsinki Exchanges so that the listing would start on 17 May 2002.

In 1999, Fortum Corporation offered a bond loan with warrants to the amount of FIM 25,000,000 to be subscribed for by the employees. A total of 1,859 people subscribed for the bond loan. The bond loan included a total of 7,500,000 share warrants, which entitle to the subscription of a maximum of 7,500,000 shares. According to the bond loan conditions, Fortum Corporation has redeemed part of the loan, because of termination of employment.

The maximum total number of the share warrants for which listing is applied is 6,457,800. Each share warrant entitles to the subscription of one (1) Fortum Corporation’s share, the nominal value of which is EUR 3.40. The maximum total number of 6,457,800 shares may be subscribed for using the share warrants, and the subsequent increase in the share capital may be a maximum of EUR 21,956,520. The shares subscribed for with these share warrants represent a maximum of 0.76% of Fortum Corporation’s share capital.

The subscription period of the shares to be subscribed for using these share warrants will begin on 17 May 2002 and continues to 17 May 2005. The place of subscription for shares will be Nordea Bank Finland Plc’s asset management branches. The subscription price of the shares with these share warrants is EUR 4.36 at the beginning of the listing. The dividend paid by Fortum Corporation each year will be deducted from the subscription price. The shares subscribed for on the basis of the share warrants entitle to dividend for the financial year during which the shares have been subscribed for. 

Fortum Corporation



Carola Teir-Lehtinen

Senior Vice President, Corporate Communications




Helsinki Exchanges

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