Invalidation of SanomaWSOY shares held by the company
Tiikerijakelu Oy, a fully owned subsidiary of SanomaWSOY Corporation was merged with the parent company on 31 July 2004 together with its assets and debts in line with the decision of the AGM on 30 March 2004. Following the merger, SanomaWSOY Corporation received in total 7,187,276 SanomaWSOY Series B shares, representing 4.48% of the shares and 1.19% of the votes. These shares were invalidated immediately after the implementation of the merger on 31 July 2004 according to the decision of the AGM.
In connection with the invalidation, the share capital of SanomaWSOY decreased by EUR 3,090,528.68, which was transferred to the premium fund. As a result of the invalidation, the share capital was reduced from EUR 68,928,754.04 to EUR 65,838,225.36, and the number of Series B shares from 137,078,936 to 129,891,660 shares. The number of Series A shares remains at 23,220,492.
The decrease of share capital will have no significant impact on the distribution of shares or votes between SanomaWSOY?s other shareholders, because the invalidated shares were held by the company. The invalidation of the shares will later permit the company to acquire its own shares according to the authorisation given by the AGM.
SanomaWSOY announced the merger plan of Tiikerijakelu Oy on 20 February 2004 in the notice of the AGM and published the decision of the AGM on 30 March 2004.