On 3 May 2000 Board of Directors of Sponda Plc decided to acquire the company’s own shares using its distributable funds, as authorized by the annual general meeting on 27 March 2000. This decision was taken on the grounds that in the light of the company’s key indicators it would serve the interests of the shareholders and that, in other respects, it would be a financially attractive way of employing the company’s liquid reserves.
The company will acquire at most 1,400,000 of its own shares, nevertheless such that the aggregate nominal value of the shares owned by the company and its subsidiaries, or the total number of votes carried by these shares, does not exceed
five (5) percent of the company’s share capital or total number of votes.
The shares will be acquired in public trading on the Helsinki Exchanges and not in proportion to shareholders’ holdings. The shares will be acquired at their market price at the time of purchase and the purchase price will be paid to the selling
parties within the time period stipulated by the rules of the Helsinki Exchanges and the Finnish Central Securities Depository Ltd. This acquisition will reduce the company’s distributable funds.
The company will acquire its own shares in public trading no earlier than one week after the date on which it disclosed the decision of the Board of Directors to acquire its own shares; that is, 11 May 2000. Acquisition of the company’s own shares will cease on 27 March 2001.
Shareholders wishing to sell their shares to the company are required to submit a sales order to an authorized securities broker to this effect.