Lahti, Finland, 2016-09-28 07:30 CEST (GLOBE NEWSWIRE) -- RAUTE CORPORATION STOCK EXCHANGE RELEASE 28 September 2016 at 8:30 a.m.
ISSUE OF NEW SHARES OF RAUTE CORPORATION WITHOUT CONSIDERATION TO THE COMPANY ITSELF
The Board of Directors of Raute Corporation has, based on the authorization granted by the Annual General Meeting of Shareholders on 31 March 2016, resolved on the issuance of 14,523 new series A shares to the company itself without consideration in accordance with chapter 9 section 20 of the Companies Act. The shares are of the same series as the company’s other series A shares and entitle to the same shareholder rights as the company’s old series A shares after their registration.
The total number of the company’s series A shares after the share issue will rise from 3,194,428 pcs to 3,208,951 pcs, of which 14,523 pcs are held by the company. The total number of shares will increase from 4,185,589 pcs to 4,200,112 pcs.
The new shares are estimated to be registered in the trade register by 27 October 2016, after which the company will without delay apply for the admission of the shares to public trading on the stock exchange list of Nasdaq Helsinki Ltd.
The purpose of the issue of shares to the company itself is to have own shares held by the company available for the payment of the share rewards payable based on the company’s share incentive plan 2015 – 2017, which forms part of the company’s share based incentive program announced on 12 February 2014. The share rewards are estimated to be paid at the latest in the spring 2017.
RAUTE CORPORATION
Board of Directors
FURTHER INFORMATION:
Ms. Arja Hakala, CFO, mobile phone +358 400 710 387
Potential call requests to Ms. Arja Hakala through: Eija Salminen, Group Executive Assistant, tel. +358 50 3801517.
DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com
RAUTE IN BRIEF:
Raute is a technology and service company that operates worldwide. Raute’s customers are companies operating in the wood products industry that manufacture veneer, plywood and LVL (Laminated Veneer Lumber). The technology offering covers machinery and equipment for the customer’s entire production process. As a supplier of mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Additionally, Raute’s full-service concept includes technology services ranging from spare parts deliveries to regular maintenance and equipment modernizations. Raute’s head office is located in the Nastola area of Lahti, Finland. Its other production plants are in Kajaani, Finland, the Vancouver area of Canada and in the Shanghai area of China. Raute’s net sales in 2015 were EUR 127.3 million. The Group’s headcount at the end of 2015 was 646.
More information about the company can be found at www.raute.com.