Uponor's EGM approved extra dividend of EUR 0.88 and bonus issue

11/16/2004, 3:22 PM (Source: GlobeNewswire)
Uponor Corporation Stock exchange release 16 Nov. 2004 16:20

Uponor Corporation's Extraordinary General Meeting (EGM) today
decided to distribute an extra dividend of EUR 0.88 per share and
double the share capital from EUR 74,820,444 to EUR 149,640,888,
based on a bonus issue in which one bonus share will be issued for
each existing share without consideration. In addition, the EGM
decided to alter the Articles of Association applying to the minimum
and maximum share capital.

Held at Uponor's Head Office in Vantaa, Finland, the EGM was opened
by Matti Niemi, Deputy Chairman of the Board, and chaired by Pekka
Merilampi, Attorney-at-Law. The EGM approved the following Board of
Directors' proposals on extra dividends, the bonus issue and
amendment to the Articles of Association:

Extra dividend:

The EGM resolved, in addition to the regular dividend approved by the
Annual General Meeting on 17 March 2004, that an extra dividend of
EUR 0.88 per share be distributed on the basis of the adopted balance
sheet for the financial year ending on 31 December 2003. Also, the
shares subscribed during 2004 based on the corporation's stock option
plan 1999/2002 entitle to the extra dividend.

The dividend will be paid to shareholders entered in the
corporation's shareholder register, maintained by Finnish Central
Securities Depository Ltd, on the record date of 19 November 2004.
The dividend will be paid on 26 November 2004.

Bonus issue:

The EGM decided to increase the corporation's share capital through a
bonus issue of EUR 74,820,444 from the current EUR 74,820,444 to EUR
149,640,888. The bonus issue will be executed by issuing one bonus
share for each existing share without consideration, the number of
bonus shares totalling 37,410,222 each at a nominal value of EUR 2.
The share capital increase will be executed by transferring an amount
equal to the combined nominal value of the bonus shares, i.e. EUR
74,820,444, from the capital reserve to the share capital.

Bonus shares will be issued to shareholders entered in the
corporation's shareholder register, maintained by Finnish Central
Securities Depository Ltd, on the record date of 19 November 2004.
Bonus shares will be entered in the shareholders' book-entry
securities accounts on 22 November 2004, provided that the share
capital increase will have been registered with the Trade Register.

The bonus issue will be executed within the book-entry securities
system, requiring no action from the shareholders. It will not change
the proportions of shareholding and voting rights.

The bonus shares will entitle their holders to a full dividend for
the financial year 2004 and provide the other shareholder
entitlements once the share capital increase has been registered. The
bonus shares do not entitle their holders to the extra dividend for
2003.

The Financial Supervision Authority has granted the corporation an
exemption from the duty to publish listing particulars with regard to
the bonus issue.

Amendment to Article 3.1 of the Articles of Association:

The EGM approved an amendment to the Articles of Association required
by the bonus issue. The new wording of Article 3.1 is as follows:

'Article 3 Minimum and maximum share capital, par value of shares
The minimum share capital of the company is EUR 75,000,000 and the
maximum share capital is EUR 300,000,000, within which limits the
share capital may be increased or decreased without amending the
Articles of Association.'

In other respects, the Articles of Association remain unchanged.

For additional information, please contact:
Pekka Holopainen, General Counsel, Tel +358-40-761 9290


Uponor Corporation


Tarmo Anttila
Vice President, Communications




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