Conversion of ElcoteqÂ´s Unlisted Series K FoundersÂ´ Shares into Series A Shares
Stock Exchange Release
July 20, 2010 at 16.50 pm (EET)
A total of 105,770,000 Elcoteq SEÂ´s series K foundersÂ´ shares owned by the three
founder shareholders of the company, Mr. Antti Piippo, Mr. Henry SjÃ¶man and Mr.
Jorma Vanhanen, have been converted into Series A shares in accordance with the
Article 18 of the Articles of Association of the Company. The conversion took
place at a ratio of ten series K foundersÂ´ shares to one series A share, i.e.
the total number of series A shares grew by 10,577,000 from 22,362,185 to
In conformity with article 14 of the Transparency Law dated 11 January 2008 and
the CSSF regulation, it is stated that the total number of exercisable voting
rights is now 32,939,185 A shares.
After the conversion Mr. Piippo, Mr. SjÃ¶man and Mr. Vanhanen hold in total
13,452,862 Series A shares, which corresponds to 40.85% ownership in the
Company. The conversion reduced the total voting share of Mr. Piippo, Mr. SjÃ¶man
and Mr. Vanhanen from 84.81% to current 40.85% (respectively 21.39%, 9.61% and
After the conversion the Company has only one series of shares, the series A
shares, that are listed on the Nasdaq OMX Helsinki under ticker symbol ELQAV.
The conversions will be entered in the Trade Register during the forthcoming
weeks after which the trading in the now converted Series A shares can commence
on Nasdaq OMX Helsinki. The exact date will be announced separately.
Director, Corporate Communications and IR
Mikko Puolakka, CFO, tel. +358 10 413 1287
Elcoteq SE is the global Life Cycle Service Partner for high-tech product and
Engineering, Manufacturing, Fulfillment and After Market Services are the
cornerstones of Elcoteq's extensive service offering. Elcoteq has a proven track
record in electronics manufacturing services (EMS) and a global factory network
coupled with modern manufacturing equipment and consistent systems and
Products include Consumer Electronics devices such as mobile phones and their
accessories, set-top boxes, LED lamps and luminaires, flat panel TVs as well as
System Solutions products such as infrastructure systems, modules and other
industrial segment products.
The Group's consolidated net sales for 2009 totaled 1.5 billion euros and it
employs approximately 10,000 persons. Elcoteq SE is listed on the Nasdaq OMX
Helsinki Ltd.Â For more information visit the Elcoteq website at
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Source: Elcoteq SE via Thomson Reuters ONE