SanomaWSOY Corporation will distribute the third block of warrants in line with the terms of Warrant Scheme 2001. A total of 1,146,100 2001C warrants will be distributed to some 185 senior managers within the Group. The warrant scheme includes all five divisions of SanomaWSOY Group.
The subscription period for 2001C warrants will begin on 1 November 2006 and end on 30 November 2009. The subscription price will be the average price of SanomaWSOY Series B share, as quoted in November - December 2003, plus 20%. The annual cash dividend will be deducted from the subscription price.
SanomaWSOY decided to issue warrants to management at the beginning of 2002. The issue comprised a maximum of 4,500,000 warrants, each entitling the holder to one SanomaWSOY Series B share. The warrants were distributed in three stages, at the turn of 2001/2002, 2002/2003, and 2003/2004, and were identified as warrants 2001A, 2001B, and 2001C respectively. The amount of 2001A and 2001B warrants on the market is at the moment some 1,737,700. The rest of the warrants have been given to SanomaWSOY's fully owned subsidiaries, Tiikerijakelu Oy and Lastannet Oy, for the Board of Directors of SanomaWSOY Corporation to decide later upon the further distribution of these warrants.
SanomaWSOY announced the issue and the terms of Warrant Scheme 2001 on 31 January 2002.
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