TELESTE CORPORATION APPROVED SHARE SUBSCRIPTION OF THE DIRECTED SHARE ISSUE RELATED TO THE MANAGEMENT INCENTIVE PLAN
TELESTE CORPORATION STOCK EXCHANGE RELEASE 24.3.2010 AT 09:00
TELESTE CORPORATION APPROVED SHARE SUBSCRIPTION OF THE DIRECTED SHARE ISSUE
RELATED TO THE MANAGEMENT INCENTIVE PLAN
The Board of Directors of Teleste Corporation has on 2 March 2010 decided on a
share issue against payment directed to Teleste Management Oy, a company owned
by the members of the Teleste Management Group. The decision on a share issue is
based on the authorization granted by the Annual General Meeting of Shareholders
on 7 April 2009. A total of 381,000 new shares in the Company were offered for
subscription in the share issue. The share subscription period was 3 March-26
March 2010, and the subscription price was EUR 3.80/share (the trade volume
weighted average quotation of the Company´s share on the NASDAQ OMX Helsinki
Ltd. during 15 February-26 February 2010).
The Board of Directors of the Company has today decided to approve the
subscription of 381,000 new shares. The subscription price of the new shares,
EUR 1,447,800, will be credited to the reserve for invested unrestricted equity
of the Company. Right to dividend and other shareholder rights will commence
when the new shares have been entered into the Trade Register, around week 13.
The shares will be registered on the book-entry account of the subscriber and
will be applied for public trading on NASDAQ OMX Helsinki Ltd when the shares
have been entered into the Trade Register, around week 13.
After the Trade Register entry of the new shares, the number of the Teleste
Corporation shares will be 18,186,590 shares.
March 23, 2010
TELESTE CORPORATION
The Board of Directors
Further information:
Jukka Rinnevaara, CEO, Tel. +358 2 2605 866 or +358 400 747 488
Distribution:
NASDAQ OMX Helsinki Ltd
Main Media
www.teleste.com
