SanomaWSOY Corporation will distribute the third and last block of stock options in line with the terms and conditions of Stock Option Scheme 2004. The Board of Directors has decided to distribute a total of 1,267,100 2004C stock options to 242 senior managers within the Group. The stock option scheme includes all five divisions of the SanomaWSOY Group.
The undistributed 2004C stock options, totalling 232,900 options, were given to Lastannet Oy. The Board of Directors of SanomaWSOY will decide on their distribution later. The Board of Directors is entitled to broaden the range of recipients or to decide to distribute stock options in new acquisitions or recruitment.
The subscription period for 2004C stock options will begin on November 1, 2009 and end on November 30, 2012. The subscription price will be the trade volume weighted average price of SanomaWSOY share, as quoted in November - December 2006, plus 20%. The annual cash dividend will be deducted from the subscription price.
Stock Option Scheme 2004 comprises a maximum of 4,500,000 stock options, each entitling the holder to one SanomaWSOY share. The stock options have been distributed in three stages, at the turn of 2004/2005 (identified as 2004A stock options), 2005/2006 (2004B stock options), and 2006/2007 (2004C stock options), and in each stock option category a maximum of 1,500,000 stock options could be issued. A total of 2,237,800 2004A and 2004B stock options have been distributed to 220 senior managers. The undistributed 2004A and 2004B stock options have been given to Lastannet and the Board of Directors will decide on their distribution later.
The number of shares covered by the 2004 stock options is equivalent to a maximum total of 2.7% of the company shares and votes after the conversion. The stock options issued so far would represent approximately 2.1% of the shares and votes after their conversion.
Company personnel who belong to the inner circle of the Company and who are entitled to subscribe for shares under this stock option scheme, would hold under 1% of the Company's shares and associated votes also after the conversion, even though they would subscribe for all shares they are entitled to.
SanomaWSOY's Board of Directors decided and the Company announced the issuance of Stock Option Scheme 2004 on November 8, 2004 on the basis of an authorisation received at the AGM on March 30, 2004. Stock Option Scheme 2004 is SanomaWSOY's second stock option scheme.
Additional information: SanomaWSOY's Group Communications, tel. +385 105 19 5062 or email@example.com
Senior Vice President
Finance and Administration
Helsinki Stock Exchange