Nokia Board of Directors resolved on a directed share issue to Nokia employees participating in the Employee Share Purchase Plan

Source: Nokia Press - Press Releases - July 23, 2013 

Nokia Board of Directors resolved on a directed share issue to Nokia employees participating in the Employee Share Purchase Plan

Espoo, Finland - Nokia announced that Nokia's Board of Directors has resolved to issue a maximum amount of 183 540 Nokia shares (NOK1V) held by the company directed to approximately 9200 Nokia employees participating in the Employee Share Purchase Plan. In accordance with the terms and conditions of the plan, the shares are issued to fulfill the company's obligation to deliver 20 free shares for every plan participant making the first three consecutive monthly share purchases under the plan. The shares are issued without consideration. The issued shares are held by the company and the total number of shares issued by the company does not change as a consequence of the issuance.

The Board of Directors approved the launch of the Employee Share Purchase Plan as part of the Nokia Equity Program 2013 on January 24, 2013 to encourage employee share ownership, commitment and engagement.

The enrolment period of the plan ended on May 9, 2013 and 9177 Nokia employees from all parts of Nokia that were eligible for the plan, including its factories, decided to participate. The plan participants who make the first three consecutive monthly share purchases are each entitled to receive 20 free shares. The shares will be delivered to the employees in September 2013.

The resolution is based on the authorization to issue shares granted to the Board by the Annual General Meeting on May 7, 2013.