Nokia Board of Directors resolved on a directed share issuance to Nokia employees participating in the Employee Share Purchase Plan 2013
August 20, 2014 - London
Stock Exchange Release
August 20, 2014 at 9:05 (CET +1)
Espoo, Finland - Nokia announced that Nokia's Board of Directors has resolved on a directed issuance of a maximum amount of 200,592 Nokia shares (NOK1V) held by the company to Nokia employees participating in the Employee Share Purchase Plan 2013. The one-year cycle of the Employee Share Purchase Plan 2013 ended on June 30, 2014.
Under the terms and conditions of the Employee Share Purchase Plan 2013 Nokia will offer one matching share for every two shares purchased under the plan which the participant still held as at June 30, 2014. The shares are issued without consideration. As the shares are held by the company, the total number of the company's outstanding shares does not change as a consequence of the issuance. The shares will be delivered to the employees in September 2014.
The Board of Directors approved the launch of the Employee Share Purchase Plan 2013 as part of the Nokia Equity Program 2013 on January 24, 2013 to encourage employee share ownership, commitment and engagement. The Board resolution is based on the authorization to issue shares granted to the Board by the Annual General Meeting on June 17, 2014.
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Source: NOKIA via Globenewswire