Government Communications Unit Press Release 285/2007 16.10.2007 The Finnish Cabinet Committee on Economic Policy in favour of participation in Finnair's planned share issue Today, on 16 October, the Cabinet Committee on Economic Policy endorsed the Government's intention to submit to Parliament a supplementary budget proposal earmarking an appropriation for Government participation in a planned share-issue by Finnair Plc to increase the company's share capital. The State's subscription of Finnair's shares in this share issue is not to exceed EUR 139.5 million. Finnair is planning to issue shares worth up to EUR 250 million to existing shareholders, to finance the long-haul fleet renewal it announced earlier. Finnair is to hold an extraordinary shareholders' meeting to decide on the share issue. Currently, the State owns a 55.78 per cent stake in Finnair Plc. If the State decides to participate fully, as provided by its current holding, in the issue of shares, the Government must receive authorisation for the aforementioned appropriation through the supplementary budget. The Government will make the final decision on participation in the share issue later, based on more detailed information on the terms of the share issue. Within the framework of the existing parliamentary authorisation, the Government may not reduce the State's ownership in the company below 50.1 per cent. Further information: Pekka Timonen, Director General, tel. +358 9 1602 3000 and Jarmo Väisänen, Senior Financial Counsellor, tel. +358 9 1602 3015, Ownership Steering Department, Prime Minister's Office
The Finnish Cabinet Committee on Economic Policy in favour of participation in Finnair's planned share issue
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