UPM-Kymmene's Board of Directors has decided on the disposal of own shares

Archive 22.4.1998 0:00 EEST

The Board of Directors of UPM-Kymmene Corporation has decided today on the disposal of own shares on the following conditions, based on the authorization by the Annual General Meeting, held on 25 March, 1998. The authorization was registered in the trade register on 8 April, 1998.
The shares are intended to be disposed of in order to carry out a corporate acquisition. The subject of the acquisition is Daubert Industries, Inc. of U.S. A minimum of 1 share and a maximum of 2 million shares will be transferred to the shareholders of Daubert Industries, Inc. provided the acquisition will be accomplished. The disposal of the shares will take place in 1998.
The shares will be disposed of at the market price quoted for them in public trading at the time of the disposal, and the shares to be disposed of will be paid at the time of the disposal at the latest.