English

EXTRAORDINARY SHAREHOLDER'S MEETING OF KYRO CORPORATION

Report this content 
Kyro Corporation STOCK EXCHANGE RELEASE  5 November 2004, 4.15 p.m.


EXTRAORDINARY SHAREHOLDERS’ MEETING OF KYRO CORPORATION

The Board of Directors of Kyro Corporation has decided to convene
an Extraordinary Meeting of Shareholders, which shall be held on
Thursday, 25 November 2004 at 4 p.m. The meeting will take place
at the Marina Congress Center, 2nd floor, Fennia I – Sali,
Katajanokanlaituri 6, Helsinki.

1. Board of Directors’ proposal for a supplementary dividend

The Board of Directors shall propose to the Extraordinary Meeting
of Shareholders that a supplementary dividend of EUR 0.10 per
share be paid for 2003. The dividend, to be decided by the Meeting
of Shareholders, shall be paid to shareholders who are on the
company’s list of shareholders, maintained by the Finnish Central
Securities Depository Ltd, on the date of record, 30 November
2004. The Board of Directors proposes that the dividend be paid on
8 December 2004.

2. Board of Directors’ proposal for a bonus issue

Board of Directors proposes that the company’s share capital be
increased through a EUR 6,348,000 bonus issue by EUR 6,348,000 to
EUR 12,696,000 on the following conditions:

   1. In the bonus issue, one (1) old share shall confer entitlement
      to receive one (1) new share without consideration.

      The total of 39,675,000 new shares shall be issued.  Each share
      shall have an accounting counter-value of EUR 0.16. A sum
      corresponding to the increase in share capital, EUR 6,348,000,
      euros, shall be transferred to the share capital from the share
      premium fund.

   2. The bonus issue’s date of record shall be 30 November 2004.  A
      shareholder who is entered as a shareholder in the company’s list
      of shareholders on the date of record shall be entitled to new
      shares issued in the bonus issue.

   3. The bonus issue shall be implemented in the book-entry system
      and no action shall be required from shareholders. The bonus issue
      shall not change the company’s share ownership or voting
      relationships.

   4. The new shares to be issued in the bonus issue shall be entered
      into shareholders’ book-entry accounts on 1 December 2004,
      providing that the increase in share capital has been entered into
      the Trade Register.

   5. The new shares to be issued in the bonus issue shall confer
      entitlement to a full dividend and other share-related rights in
      the company, after the increase in share capital has been
      registered in the Trade Register. The new shares shall not confer
      entitlement to the supplementary dividend for 2003 mentioned in
      item 1 of the invitation to the meeting.

   6. Shareholders who have not converted their share certificates
      into book-entry securities shall be entitled to the new shares to
      be issued in the bonus issue after making such a conversion.

   7. The Board of Directors proposes that the bonus issue result in a
      doubling of the number of the company’s shares.  Increasing the
      number of the shares shall improve the liquidity of the shares in
      the market and promote the efficiency of the share market.


Right to participate

Shareholders who are entered in the company’s list of
shareholders, maintained by the Finnish Central Securities
Depository Ltd, on 15 November 2004 shall have the right to
participate in the meeting.

A shareholder whose shares have not been transferred to the book-
entry system shall also have the right to participate in the
meeting, providing that the shareholder has been registered in
Kyro Corporation’s share register before 22 December 1995. In this
case the shareholder must present at the Meeting of Shareholders
his/her share certificates or other clarification that the right
of ownership of the shares has not been transferred to a book-
entry account.

Registration

Shareholders who wish to participate in the Extraordinary Meeting
of shareholders must give notice of their participation either by
telephone to Terttu Uusitalo +358 3 382 3072 or by letter to the
address Kyro Corporation, 39200 Kyröskoski or by e-mail to the
address terttu.uusitalo@kyro.fi at the latest by 4 p.m. on 22
November 2004. The registration letter or message must arrive
before the registration period ends.


Any powers of attorney should be supplied in connection with
advance registration.

Helsinki, 5 November 2004

Kyro Corporation


Board of Directors

Further information:    Vesa Hopia, Chief Financial Officer, Kyro
Corporation,
                        tel. +358 3 382 3111

Distribution:           Helsinki Exchanges
                        Key media

Subscribe