UPM-Kymmene applies for listing of its share options of series A on the main list of Helsinki Exchanges

The Board of Directors of UPM-Kymmene Corporation has decided to apply for listing of all the share options of the series A of 1998 on the main list of Helsinki Exchanges so that the listing commences on 2 April, 2001.

The share option series A consists of a total of 2,000,000 options, conferring entitlement to subscribe 2,000,000 company shares. Each share option A entitles its holder to subscribe for one (1) UPM-Kymmene Corporation share. The share subscription price will be calculated as the share's trading-weighted average price quoted on the Helsinki Exchanges during the period 18 - 24 March, 1998 incremented by thirty (30) Finnish marks and rounded up to the nearest Finnish mark i.e. FIM 184 and EUR 30.95. The share subscription price shall be reduced by the amount of dividends distributed after 1 May, 1998. Dividends paid so far total EUR 3.24 per share, in addition the Board of Directors proposes a dividend of EUR 1.50 per share for the year 2000. The final share subscription price is therefore EUR 26.21 per share.

The share subscription starts on 2 April, 2001 and ends 30 April, 2005. In connection with the listing, all the share options will be transferred to the book-entry system of the Helsinki Exchanges.

 

UPM-Kymmene Corporation
Corporate Communications
6 February, 2001
; The Board of Directors of UPM-Kymmene Corporation has decided to apply for listing of all the share options of the series A of 1998 on the main list of Helsinki Exchanges so that the listing commences on 2 April, 2001.

The share option series A consists of a total of 2,000,000 options, conferring entitlement to subscribe 2,000,000 company shares. Each share option A entitles its holder to subscribe for one (1) UPM-Kymmene Corporation share. The share subscription price will be calculated as the share's trading-weighted average price quoted on the Helsinki Exchanges during the period 18 - 24 March, 1998 incremented by thirty (30) Finnish marks and rounded up to the nearest Finnish mark i.e. FIM 184 and EUR 30.95. The share subscription price shall be reduced by the amount of dividends distributed after 1 May, 1998. Dividends paid so far total EUR 3.24 per share, in addition the Board of Directors proposes a dividend of EUR 1.50 per share for the year 2000. The final share subscription price is therefore EUR 26.21 per share.

The share subscription starts on 2 April, 2001 and ends 30 April, 2005. In connection with the listing, all the share options will be transferred to the book-entry system of the Helsinki Exchanges.

 

UPM-Kymmene Corporation
Corporate Communications
6 February, 2001