THE ANNUAL GENERAL MEETING IS TO BE HELD ON 14 MARCH 2005

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ELISA CORPORATION STOCK EXCHANGE RELEASE 10 FEBRUARY 2005 AT 9.15am

THE ANNUAL GENERAL MEETING IS TO BE HELD ON 14 MARCH 2005

The Annual General Meeting of Elisa Corporation is to be held at Helsinki Fair
Center, Messuaukio 1, Helsinki, at 2:00pm on Monday, 14 March 2005.  The issuing
of voting slips to the shareholders attending the meeting will commence at the
above venue at 1:00pm.

The following matters will be on the agenda

1.
Matters pertaining to the Annual General Meeting as specified in Article 12 of
the company's Articles of Association.

2.

The Board of Directors' proposal to authorise the Board of Directors, within one
year of the Annual General Meeting, to decide on increasing the share capital
through one or more new issues, on taking one or more convertible bonds and/or
granting warrants, so that in a new issue, the subscription of shares in exchange
for the convertible bonds and pursuant to warrants, a maximum aggregate 28.3
million of the company's shares can be issued, and the company's share capital
can be increased by a maximum of EUR 14,150,000 in total.

The Board of Directors proposes that the authorisation entitles it to disapply
the pre-emption rights of existing shareholders to subscribe to new shares,
convertible bonds and/or warrants, and to decide the determination principles and
issue prices, the terms and conditions for subscribing to new shares and the
terms of the convertible bonds and warrants. The pre-emption rights of
shareholders may be waived by means of this authorisation if there is an
important financial reason for doing so, such as financing, implementing or
enabling corporate acquisitions, strengthening or developing the company's
financial or capital structure or carrying out other arrangements related to the
development of the company's activities. The Board of Directors is allowed to
decide those entitled to subscribe, but such a decision may not be made for the
benefit of members of the company's inner circle. The Board of Directors is
entitled to decide whether the shares to be issued in a new issue, convertible
bonds or warrants can be subscribed in kind or otherwise on certain conditions or
by using the right of set-off.

Moreover, the Board of Directors proposes that the authorisation valid until 31
March 2005 of increasing the share capital be cancelled for any unused parts.

3.

The Board of Directors proposes to the Annual General Meeting that the Board of
Directors be issued authorisation to decide on acquiring a maximum of 6,888,000
treasury shares as follows:

Treasury shares are acquired to develop the company's capital structure, to be
cancelled or to be used as consideration in potential corporate acquisitions and
other arrangements. The proposed maximum amount of 6,888,000 shares corresponds
to 4.85 per cent of the total number of Elisa Corporation's shares (141,989,109).
The company does not currently hold treasury shares, but the company's
subsidiaries hold a total of 210,672 company shares. The maximum number of shares
to be purchased pursuant to this authorisation together with the shares owned by
the subsidiaries is 5 per cent of the company's total shares and votes.
Purchasing the shares takes place with the assets used for the distribution of
profit and decreases the distributable and unrestricted equity. The shares will
be purchased in accordance with the Board of Directors' decision through public
trading on the Helsinki Stock Exchange at the market price prevailing at the
moment the shares are traded. Payment for any shares acquired will take place
within the payment deadline specified in the rules of the Helsinki Stock
Exchange, and the regulations of the Finnish Central Securities Depository. The
authorisation is valid for one year, starting from this Annual General Meeting.

Since the company does not currently own any treasury shares and the maximum
number of shares that may be purchased pursuant to this authorisation is 4.85 per
cent of the company's shares and votes, purchase of the shares will have no
material impact on the distribution of shares and votes of other shareholders in
the company.

4.

The Board of Directors proposes that the Annual General Meeting authorise the
Board of Directors to decide on assigning treasury shares on the following terms:


The objective of the authorisation is a maximum of 6,888,000 treasury shares
acquired for the company. The Board of Directors is authorised to decide to whom
and in which order the shares are assigned. The Board of Directors may decide on
assigning treasury shares except when a shareholder has a pre-emptive right to
purchase treasury shares. Shares may be assigned as consideration in such a
situation when the company acquires assets forming part of its business as well
as consideration in any corporate acquisitions in the manner and to the extent
decided by the Board of Directors. The Board of Directors is also entitled to
decide on divesting treasury shares in public trading on the Helsinki Exchange in
order to acquire funds for the company to finance investments and any corporate
acquisitions. The authorisation does not include the right to assign the shares
for the benefit of the company's inner circle. The shares shall be assigned at no
less than the market price quoted at the moment of transfer, as determined in
public trading of the shares on the Helsinki Stock Exchange. The authorisation is
valid for one year from this Annual General Meeting.

5.

The Board of Directors' proposal is to sell the shares on the joint book-entry
account. Elisa Corporation's shares have been incorporated into the book-entry
system since 17 June 1999. The joint book-entry account currently has 528,450
company shares, which is approximately 0.37 per cent of the total amount of all
shares. The Board of Directors further proposes that the Annual General Meeting
authorise the Board to make a resolution to sell the shares in the joint book-
entry account on behalf of the holders in compliance with Chapter 3a, Article 3a
of the Finnish Companies Act.

Dividend

The Board of Directors will recommend that a dividend of EUR 0.40 per share be
distributed for 2004. The dividend approved by the Annual General Meeting will be
paid to shareholders listed in the company's share register maintained by the
Finnish Central Securities Depository Ltd on 17 March 2005. The Board of
Directors proposes to the Annual General Meeting that the dividend be paid on 24
March 2005.

Composition of the Board of Directors, Auditor

The major domestic shareholders of Elisa Corporation have notified the company of
their intention to propose to the Annual General Meeting that the Meeting resolve
the number of members on the Board of Directors to be 6, and that the present
members Keijo Suila, Ossi Virolainen, Matti Aura, Mika Ihamuotila, Pekka Ketonen
and Jussi Länsiö be re-elected. The Board of Directors has decided, after hearing
the Committee for Auditing, to propose at the Annual General Meeting to appoint
KPGM Wideri Oy Ab, public authorised accountants, as the company's external
auditor.

Eligibility to attend and registration

Shareholders registered on Friday 4 March 2005 in the company's share register
kept by the Finnish Central Securities Depository, and who have registered for
the Meeting, are eligible to attend the Annual General Meeting. Any owners of
nominee registered shares wishing to attend the Meeting and to exercise their
right to vote may be temporarily registered in the share register. To arrange
temporary registration, a nominee registered shareholder should contact their
assets manager in due time before 4 March 2005.

Registration to the Annual General Meeting commences on 22 February 2005.

Documents

The financial statement documents and the proposals of the Board of Directors,
complete with annexes as requested by the Companies Act, will be available for
shareholders' perusal from 22 February 2005 at the company's head office, address
Kutomotie 18, Helsinki (lobby). The company will send copies of the documents on
request to shareholders.

ELISA CORPORATION
Velipekka Nummikoski
Vice President, Corporate Communications

Distribution
Helsinki Stock Exchange
Major media



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