SanomaWSOY Corporation will distribute the second block of warrants in line with the terms of Warrant Scheme 2001. A total of 1,120,000 2001B warrants will be distributed to 173 senior managers within the Group. The warrant sceme includes also Rautakirja, which will merge into SanomaWSOY in 2003.
The subscription period for 2001B warrants will begin on 1 November 2005 and end on 30 November 2008. The subscription price will be the average price of SanomaWSOY's Series B share as quoted in November-December 2002 plus 20%. The annual dividend will be deducted from the subscription price.
SanomaWSOY decided to issue warrants to management at the beginning of 2002. The issue comprises a maximum of 4,500,000 warrants, each entitling the holder to one SanomaWSOY Corporation Series B share. The warrants will be distributed in three stages, at the turn of 2001/2002, 2002/2003, and 2003/2004, and will be identified as warrants 2001A, 2001B, and 2001C respectively. A maximum of 1,500,000 warrants in each category will be issued. Currently, 94 senior managers within the Group are holding a total of some 650,000 2001A warrants distributed at the beginning of 2002.
SanomaWSOY announced the issue and the terms of Warrant Scheme 2001 on 31 January 2002.
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