Nokia's Board of Directors resolves to issue shares to the company and finalizes the target share issue to settle shares in accordance with Nokia's previous action plan
Nokia's board of directors agreed to issue 20.8 million non-exchangeable shares to Nokia Corporation to fulfill the company's commitments in its share buyback plan for 2022 and the first quarter of 2023.
Nokia expects these shares to be registered with the Finnish Companies Registry around February 4, 2022, and these shares will have shareholder rights related to the registration date. The total number of Nokia shares after registration is 5,696,261,159 shares, the number of shares held by Nokia after the issue is 49,550,329 shares. The new shares are scheduled to be traded on Nasdaq Helsinki and Euronext Paris on February 7, 2022, together with other Nokia shares as of February 8, 2022. Euronext Paris will launch a separate announcement that the new shares will be listed on Euronext Paris.
In addition, the Board of Directors agreed to conduct a private placement of up to 20,800,000 Nokia shares held by Nokia Corporation solely from the above offering, as part of fulfilling its obligations under the Share Purchase Program. The 2019 performance stock plan and various limited stock plans are implemented in the first quarter of 2022 and 2023. Shares are issued free of charge. Each share delivery will be issued individually through a stock exchange notice.
Both share issuance agreements are based on the authorization of the Board of Directors at the Annual General Meeting of Shareholders on April 8, 2021.
About Nokia
At Nokia, we create technology that helps the world work together.
As a trusted partner for mission-critical networks, we are committed to innovation and technology leadership in mobile, fixed and cloud networks. We create value through long-term research and intellectual property, led by award-winning Nokia Bell Labs.
Committed to the highest standards of integrity and safety, we help develop the capabilities needed for a more efficient, sustainable and inclusive world.
SOURCE
https://finance.yahoo.com/news/nokia-board-directors-resolved-issue-063000109.html
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