Kyro's extraordinary meeting of shareholders approved

KYRO´S EXTRAORDINARY MEETING OF SHAREHOLDERS APPROVED THE BOARD'S PROPOSAL TO DEMERGE The extraordinary meeting of shareholders of Kyro Corporation on November 22, 2000 approved the proposal by the board to demerge the company into two new companies as well as the demerger plan approved and signed by the board. By approving the demerger plan, the extraordinary meeting of shareholders has resolved to establish Kyro Corporation and Tecnomen Holding Corporation and has approved the proposed articles of association for these companies. In the demerger Tecnomen Holding will receive the shares of Tecnomen Corporation owned by the present Kyro Corporation and a corresponding amount of equity. The shares of Tamglass Ltd. Oy and Kyro Power Oy owned by the company to be demerged, as well as all other assets and liabilities and all other equity are to be transferred to new Kyro Corporation. When the demerger takes effect, approximately on April 1, 2001, the shareholders of Kyro will receive for each Kyro share as demerger consideration one share of new Kyro Corporation and one share of Tecnomen Holding Corporation. The listing of the shares of the recipient companies at the Helsinki Stock Exchange will be started approximately on April 2, 2001. Further more the general meeting of shareholders elected the members of the board of directors and auditors of Kyro Corporation and Tecnomen Holding Corporation. Lauri Fontell, Lars Hammarén, Carl-Olof Homén, Barbro Koljonen, Carl-Johan Numelin, Carl-Johan Rosenbröijer, Christer Sumelius ja Gerhardt Wendt were elected to the board of directors of Kyro Corporation. KPMG Wideri Oy Ab was elected as the auditor of Kyro Corporation. Keijo Olkkola, Lauri Ratia, Timo Toivila, Hannu Turunen, Lars Hammarén, Carl-Johan Numelin ja Christer Sumelius were elected to the board of directors of Tecnomen Holding Corporation. KPMG Wideri Oy Ab was elected as the auditor of Tecnomen Holding Corporation. Kyro Corporation Pentti Yliheljo CEO and President Further Information: Pentti Yliheljo Kyro Corporation, +358-3-382 3111 Distribution: HEX Helsinki Exchanges Main Media ------------------------------------------------------------ This information was brought to you by BIT The following files are available for download: