Lahti, Finland, 2017-09-25 14:30 CEST (GLOBE NEWSWIRE) -- RAUTE CORPORATION STOCK EXCHANGE RELEASE 25 September 2017 at 3:30 p.m.
ISSUE OF NEW SHARES OF RAUTE CORPORATION WITHOUT CONSIDERATION TO THE COMPANY ITSELF
The Board of Directors of Raute Corporation has, based on the authorization granted by the Annual General Meeting of Shareholders on 28 March 2017, resolved on the issuance of 8,913 new series A shares to the company itself without consideration in accordance with chapter 9 section 20 of the Companies Act. The shares are of the same series as the company’s other series A shares and entitle to the same shareholder rights as the company’s old series A shares after their registration.
The total number of the company’s series A shares after the share issue will rise from 3,239,174 pcs to 3,248,087 pcs, of which 8,913 pcs are held by the company. The total number of shares will increase from 4,230,335 pcs to 4,239,248 pcs.
The new shares are estimated to be registered in the trade register by 31 October 2017, after which the company will without delay apply for the admission of the shares to public trading on the stock exchange list of Nasdaq Helsinki Ltd.
The purpose of the issue of shares to the company itself is to have own shares held by the company available for the payment of the share rewards payable based on the company’s share incentive plan 2016 – 2018, which forms part of the company’s share based incentive program announced on 12 February 2014. The share rewards are estimated to be paid at the latest in the spring 2018.
RAUTE CORPORATION
Board of Directors
FURTHER INFORMATION:
Ms. Arja Hakala, CFO, mobile phone +358 400 710 387
Potential call requests to Ms. Arja Hakala through: Eija Salminen, Group Executive Assistant, tel. +358 50 3801517
DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com
RAUTE IN BRIEF:
Raute is a technology and service company that operates worldwide. Raute’s customers are companies operating in the wood products industry that manufacture veneer, plywood, LVL (Laminated Veneer Lumber) and sawn timber. Its technology offering covers the entire production process for veneer, plywood and LVL and special measurement equipment for sawn timber. As a supplier of mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Additionally, Raute’s full-service concept includes technology services ranging from spare parts deliveries to regular maintenance and equipment modernizations. Raute’s head office is located in the Nastola area of Lahti, Finland. The company’s other production plants are located in Kajaani, Finland, the Vancouver area of Canada, the Shanghai area of China and in Pullman, Washington, USA. Raute’s net sales in 2016 were EUR 113.1 million. The Group’s headcount at the end of 2016 was 643. More information about the company can be found at www.raute.com.