Elektrobit Group Oyj - JOT AUTOMATION GROUP PLC'S EXTRAORDINARY MEETING OF THE SHAREHOLDERS
October 01, 1999
JOT AUTOMATION GROUP PLC'S EXTRAORDINARY MEETING OF THE SHAREHOLDERS
JOT Automation Group Plc's extraordinary meeting of the shareholders decided today 01.10.1999 according to the proposal of the Board of the Directors to delete the nominal value of the shares and to increase the number of the shares without increasing the share capital so that the Company's share capital is divided into 170,617,200 shares instead of the current 17,061,720 shares. After this a shareholder owning previously one share will own ten shares. The accounting counter value of the shares will be 0.02 euros.
As a result item 4. of the articles of association is changed to be as follows:
4. Number of shares
The Company shall have a minimum of 100,000,000 and a maximum of 1,000,000,000 shares.
JOT Automation Group Plc's extraordinary meeting of the shareholders decided to authorize the Company's Board to decide within one year of the extraordinary meeting of the shareholders of taking one or more convertible debentures and/or to issue option rights and/or on raising share capital through a new subscription of shares so that, at the time of issuance of the convertible debentures and/or option rights and/or a new subscription, a total of 20,000,000 new shares can be subscribed to. Based on this authorization, the Company's share capital can be raised by a maximum of 400,000 euros.
The authorization includes the disapplication of shareholders' pre-emptive subscription rights as stated in Companies Act 4:2 § to new shares, convertible debentures or option rights and the right to decide on the subscription prices, people entitled to the subscription, the terms of subscription and the terms and conditions of the convertible debentures and option rights. The disapplication of shareholders pre-emptive rights can be used on the condition that there are in Company's view heavy economic reasons such as acquisition of new shareholders, the development of the Company's business operations, mergers and acquisitions, the strengthening of the Company's capital structure or the provision of staff incentives. When share capital is raised through a new subscription by other means than convertible debentures or option rights, the Company's Board is authorized to decide that shares can be subscribed using capital contributions or other specific conditions.
Oulunsalo, October 01, 1999
JOT Automation Group Plc
Irma-Liisa Korhonen
IR Manager
