Elektrobit Group Oyj - Change in the number of shares and stock options in Bittium Corporation
October 27, 2015
Change in the number of shares and stock options in Bittium Corporation
Stock Exchange Release
Free for publication on October 27, 2015 at 3.30 p.m.
Change in the number of shares and stock options in Bittium Corporation
Bittium Corporation ("Bittium" or the "Company") has cancelled its own shares ("Share") and stock options 2008C ("Stock Option") as a result of the completion of a voluntary public tender offer (the "Offer") for the Company's own Shares and Stock Options.
Before the completion of the Offer, there were 132,818,030 Shares and 268,994 Stock Options in the Company. The Offer was accepted for 97,244,662 Shares, representing approximately 73.2 per cent of all Shares and votes in the Company. In addition, the Offer was accepted for 166,694 Stock Options, representing approximately 62.0 per cent of all Stock Options in the Company.
In accordance with the terms and conditions of the Offer, the Shares and Stock Options transferred in the Offer became null and void as part of the settlement of the completion trades of the Offer so that the Shares and Stock Options did not at any stage come to the Company's possession. The cancellation of 97,239,195 Shares and 166,694 Stock Options was executed on October 27, 2015. As a result of the Shares and Stock Options becoming null and void, the number of Company's remaining Shares is 35,578,835, and the number of Company's all remaining Stock Options is 102,300, of which 40,000 Stock Options have not yet been allocated to the Company's key persons in accordance with the terms and conditions of the Stock Options.
Settlement of 5,467 Shares to be transferred in the Offer has not been completed within the same timetable as the settlement of the other Shares transferred, and such Shares have not yet become null and void. Such 5,467 Shares will become null and void later, as soon as it can be accomplished.
In Oulu, October 27, 2015
Bittium Corporation
Board of Directors
Further Information:
Veli-Pekka Paloranta
CFO
Bittium Corporation
Tel. +358 40 344 5466
Distribution:
NASDAQ Helsinki
Main media
Bittium
Bittium is specialized in developing reliable and secure communications and connectivity solutions using the latest technologies and deep knowledge on radio technology. Bittium provides innovative products and customized solutions based on its product platforms, and R&D services for customers in various industries. Bittium also offers high quality information security solutions for mobile devices and portable computers. Net sales of continuing operations in 2014 was EUR 52.7 million and operating profit was EUR 0.8 million. Bittium is listed on Nasdaq Helsinki. www.bittium.com
