Nokia announced today that it has adjusted the conversion price of its EUR 750 million convertible bonds (the "Bonds") from the previous conversion price of EUR 2.44 per share to EUR 2.39 per share due to the distribution of the dividend decided by the Nokia Annual General Meeting on May 5, 2015 (the "AGM").
The AGM decided on the distribution of a dividend of EUR 0.14 per share. The terms and conditions of the Bonds provide for adjustments of the conversion price for the distribution of dividend.
Due to the adjustment of the conversion price, the maximum number of shares that the Bonds can be converted to is increased by 6 428 767 shares. Consequently, the Board of Directors decided, on the basis of the authorization granted by the AGM and in deviation from the pre-emptive subscription right of the company's shareholders, to issue 6 428 767 new shares upon the conversion of the Bonds into Nokia shares.
Based on the adjusted conversion price of EUR 2.39 per share, the maximum number of new shares which may be issued by Nokia upon the conversion of the Bonds is 313 723 849, representing approximately 8.7% of Nokia's currently issued shares (excluding the shares owned by Nokia and its subsidiary companies).
Recommended for You
Latest News Posts
- Blizzard teams with Hasbro for Overwatch Nerf toy guns
- Ion Maiden delayed to 2019
- Hello Games on No Man's Sky launch: we shared too much info
- Shazam's first trailer injects fun, and color into the DCEU
- DC unleashes first Aquaman trailer during SDCC 2018
- HELP With a Sniper.2 Z68 bios U1C, won't boot with discrete VGA
- Z97X-SLI doesn't recognize NVME-SSD
- Design a Colorful SSD contest
- NZXT Kraken M22 CPU Cooler Review
- Question about ASROCK 970 Extreme3 1.0
- Micron Launches Industry's First Enterprise SATA Solid State Drives Built on Leading 64-layer 3D NAND Technology
- Micron, Rambus, Northwest Logic and Avery Design to Deliver a Comprehensive GDDR6 Solution for Next-Generation Applications
- Toshiba Memory America Unveils UFS Devices Utilizing 64-Layer, 3D Flash Memory
- ASUS Announces GeForce GTX 1070 Ti Series Gaming Graphics Cards
- ASUS Announces ASUS Hangouts Meet Hardware Kit