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Notification under Chapter 9, Section 10 of the Finnish Securities Markets Act



Notification under Chapter 9, Section 10 of the Finnish Securities Markets Act

ESPOO, Finland, Sept. 24, 2013 (GLOBE NEWSWIRE) --

Nokia Corporation
Stock exchange release
September 24, 2013 at 11.00 (CET+1)

Espoo, Finland - Nokia has on September 23, 2013 received a flagging
notification in accordance with Chapter 9, section 5 of the Finnish Securities
Markets Act from Microsoft Corporation, informing of an assignment leading to a
change in the entity holding the convertible bonds issued by Nokia.

As announced on September 6, 2013 Nokia decided to draw down EUR 1.5 billion
financing in the form of convertible bonds to be issued to Microsoft. The
convertible bonds were issued on September 23, 2013 and subscribed for by
Microsoft International Holdings B.V., an indirectly wholly owned subsidiary of
Microsoft Corporation. Microsoft Corporation has informed Nokia that the
convertible bonds have been assigned to Microsoft Asia Island Limited later on
the issuance date.

In accordance with the above assignment, Microsoft notified us that Microsoft
International Holdings B.V.'s potential holdings of Nokia shares and voting
rights has at the time of the assignment fallen below 5% and that Microsoft Asia
Island Limited's potential holdings in Nokia, if all the convertible bonds were
converted into shares of Nokia at the initial conversion price, could lead to
holdings in Nokia of 367 524 324 shares and voting rights. This represents 8.9 %
of all the shares and voting rights in Nokia as calculated based on current
amount of shares added with shares from conversion of all the above mentioned
bonds.

More information on the terms of the bonds can be found in the releases issued
by Nokia on September 6, 2013. Microsoft Asia Island Limited is bound by the
same transfer, conversion and voting commitments and restrictions as Microsoft
International Holdings B.V. with respect to the convertible bonds, which
restrictions and commitments were also announced on September 6, 2013. Apart
from the change in the Microsoft entity holding the convertible bonds issued by
Nokia, the terms and conditions of this financing arrangement remain unchanged.
Also the commitment, according to which the principal and accrued interest of
the convertible bonds is netted against the proceeds from the sale in the
closing of the sale of substantially all of the Devices & Services business to
Microsoft, will remain despite the assignment of the bonds.

Microsoft Asia Island Limited (tax ID:34593) has its head office in Bermuda and
is an indirectly wholly owned subsidiary of Microsoft Corporation (Tax ID:
600413485).

The current number of shares and voting rights in Nokia is 3 744 994 342. Should
all the convertible bonds be converted into shares in Nokia, the number of
shares and votes would increase to 4 112 518 666 (assuming that no other new
shares would have been issued by Nokia).

FORWARD-LOOKING STATEMENTS
It should be noted that Nokia and its business are exposed to various risks and
uncertainties and certain statements herein that are not historical facts are
forward-looking statements, including, without limitation, those regarding: A)
the planned sale by Nokia of substantially all of Nokia's Devices & Services
business, including Smart Devices and Mobile Phones (referred to below as "Sale
of the D&S Business") pursuant to the Stock and Asset Purchase Agreement, dated
as of September 2, 2013, between Nokia and Microsoft International Holdings
B.V.(referred to below as the "Agreement"); B) the closing of the Sale of the
D&S Business; C) obtaining the confirmation and approval of our shareholders for
the Sale of the D&S Business; D) receiving timely (if at all), necessary
regulatory approvals for the Sale of the D&S Business; E) expectations, plans or
benefits related to or caused by the Sale of the D&S Business; F) expectations,
plans or benefits related to Nokia's strategies, including plans for Nokia with
respect to its continuing businesses that will not be divested in connection
with the Sale of the D&S Business; G) expectations, plans or benefits related to
changes in leadership and operational structure; H) expectations and targets
regarding our operational priorities, financial performance or position, results
of operations and use of proceeds from the Sale of the D&S Business; and I)
statements preceded by "believe," "expect," "anticipate," "foresee," "sees,"
"target," "estimate," "designed," "aim", "plans," "intends," "focus," "will" or
similar expressions. These statements are based on management's best assumptions
and beliefs in light of the information currently available to it. Because they
involve risks and uncertainties, actual results may differ materially from the
results that we currently expect. Factors, including risks and uncertainties
that could cause these differences include, but are not limited to: 1) the
inability to close the Sale of the D&S Business in a timely manner, or at all,
for instance due to the inability or delays in obtaining the shareholder
approval or necessary regulatory approvals for the Sale of the D&S Business, or
the occurrence of any event, change or other circumstance that could give rise
to the termination of the Agreement; 2) the potential adverse effect on the
sales of our mobile devices, business relationships, operating results and
business generally resulting from the announcement of the Sale of the D&S
Business or from the terms that we have agreed for the Sale of the D&S Business;
3) any negative effect from the implementation of the Sale of the D&S Business,
as we may forego other competitive alternatives for strategies or partnerships
that would benefit our Devices & Services business and if the Sale of the D&S
Business is not closed, we may have limited options to continue the Devices &
Services business or enter into another transaction on terms favorable to us, or
at all; 4) our ability to effectively and smoothly implement planned changes to
our leadership and operational structure or maintain an efficient interim
governance structure and preserve or hire key personnel; 5) any negative effect
from the implementation of the Sale of the D&S Business, including our internal
reorganization in connection therewith, which will require significant time,
attention and resources of our senior management and others within the company
potentially diverting their attention from other aspects of our business; 6)
disruption and dissatisfaction among employees caused by the plans and
implementation of the Sale of the D&S Business reducing focus and productivity
in areas of our business; 7) the amount of the costs, fees, expenses and charges
related to or triggered by the Sale of the D&S Business; 8) any impairments or
charges to carrying values of assets or liabilities related to or triggered by
the Sale of the D&S Business; 9) potential adverse effects on our business,
properties or operations caused by us implementing the Sale of the D&S Business;
10) the initiation or outcome of any legal proceedings, regulatory proceedings
or enforcement matters that may be instituted against us relating to the Sale of
the D&S Business; and, as well as the risk factors specified on pages 12-47 of
Nokia's annual report on Form 20-F for the year ended December 31, 2012 under
Item 3D. "Risk Factors." and risks outlined in our most recent interim report.
Other unknown or unpredictable factors or underlying assumptions subsequently
proving to be incorrect could cause actual results to differ materially from
those in the forward-looking statements. Nokia does not undertake any obligation
to publicly update or revise forward-looking statements, whether as a result of
new information, future events or otherwise, except to the extent legally
required.

About Nokia
Nokia is a global leader in mobile communications whose products have become an
integral part of the lives of people around the world. Every day, more than 1.3
billion people use their Nokia to capture and share experiences, access
information, find their way or simply to speak to one another. Nokia's
technological and design innovations have made its brand one of the most
recognized in the world. For more information, visit http://www.nokia.com/about-
nokia.

Media and Investor Contacts:

Nokia
Communications
Tel. +358 7180 34900
Email: press.services@nokia.com

Investor Relations Europe
Tel. +358 7180 34927
Investor Relations US
Tel. +1 914 368 0555
www.nokia.com






[HUG#1731055]
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