Monday, 23 October 2017

Kymen Puhelin, Telekarelia to merge with Elisa

Elisa
Monday 10 June 13

The Boards of Directors in Elisa and Kymen Puhelin have agreed that Kymen Puhelin will merge into Elisa and have signed the merger plan. At the moment Elisa Group owns 49.6 per cent of Kymen Puhelin…

The Boards of Directors in Elisa and Kymen Puhelin have agreed that Kymen Puhelin will merge into Elisa and have signed the merger plan. At the moment Elisa Group owns 49.6 per cent of Kymen Puhelin. As merger consideration, 144 new Elisa shares will be given in exchange for each Kymen Puhelin share. No merger consideration will be paid for the shares owned by Elisa Group. There are a total of 12,214 shares owned by shareholders other than Elisa.

The Boards of Directors in Elisa and Telekarelia have agreed with Telekarelia that Telekarelia will merge into Elisa and have signed the merger plan. At the moment Elisa Group owns 66.8 per cent of Telekarelia. As merger consideration, 25 new Elisa shares will be given in exchange for each Telekarelia shares. No merger consideration will be paid for the shares owned by Elisa Group. There are a total of 9,218 shares owned by shareholders other than Elisa.

In total, a maximum of 1,989,266 new Elisa shares will be given as merger consideration, which represents approximately 1.2 per cent of the Elisa's share capital. Of these new shares approximately 1,758,816 will be given to Kymen Puhelin shareholders and 230,450 to Telekarelia shareholders.

The merger decision will be made at extraordinary shareholders' meetings of Kymen Puhelin and Telekarelia in August. Approval of the merger requires that at least two thirds (2/3) of the votes represented at the shareholders' meeting are in favor of the merger.

The estimated registration date is 31 December 2013.


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