The board of directors for Incap Corporation decided to allocate the warrants issued by the annual general meeting on 11 April, 2000 to the key persons of Incap Corporation and Incap Corporation’s wholly-owned subsidiary Euro-Ketju Oy.
The key persons of Incap Corporation were issued altogether 82,270 A warrants, 82,270 B warrants, 82,270 C warrants and 82,270 D warrants. Each of the board directors for Incap Corporation were given 2,500 A warrants and each of the board directors for the subsidiaries 1,250 A warrants. The remaining warrants, or 25,430 A warrants, 40,430 B warrants, 40,430 C warrants and 40,430 D warrants, were allocated to Incap Corporation’s subsidiary Euro-Ketju Oy to be given later to key persons employed or subsequently recruited by Incap Corporation or the board directors for Incap Corporation or its subsidiaries.
The warrants entitle their holders to subscribe a maximum of 550,000 shares of Incap Corporation. The subscription price will be twelve (12) euro. From the share subscription price, the amount of cash dividend distributed annually shall be deducted as per the dividend record date.
The share subscription period will begin on 1 Dec. 2000 for the A warrants, on 1 Dec. 2001 for the B warrants, on 1 Dec. 2002 for the C warrants and on 1 Dec. 2003 for the D warrants. The share subscription period for all warrants will terminate on 31 Dec. 2005.
The annual general meeting held on 11 April 2000 decided to issue the warrants, and the terms and conditions for the warrants were immediately published in a stock exchange bulleting.
In the same meeting, the board of directors decided to cancel the warrants issued by the annual general meeting on 2 April 1998 insofar as the holders of these warrants had exchanged their old warrants for the newly issued ones. After this cancellation, 29,600 of the A warrants and 29,600 of the B warrants issued in 1998 remained, and they entitle their holders to subscribe 59,200 shares of Incap Corporation at a price of 19.73 - 22.57 euro per share during the years 2000 - 2004.
Helsinki, 26 June 2000
INCAP CORPORATION
Board of directors