TELESTE CORPORATION STOCK EXCHANGE ANNOUNCEMENT 18.10.2007 AT 11:00
SHARES SUBSCRIBED WITH STOCK OPTIONS 2002A AND 2002B IN TELESTE CORPORATION
A total of 179,264 shares in Teleste Corporation have been subscribed for with
the stock options 2002A and a total of 2,500 shares have been subscribed for
with stock options 2002B after the increase of shares registered on 22 August
2007. In accordance with the Terms and Conditions, the share subscription price
with stock options 2002A is EUR 6.75/share and with 2002B stock options EUR
The share subscription period with the stock options 2002A commenced in February
2005 and with the stock options 2002B in February 2006. The stock option program
was approved by the Annual General Meeting on 8 April 2002.
These shares, 181,764 in total, have been entered into the Trade Register on 18
October 2007. As a result of the share subscriptions, the number of shares was
increased by a total of 181,764 new shares. The share subscription price will be
recorded under the invested non-restricted equity fund. After the increase, the
number of Teleste shares is 17,665,030. The shares have no nominal value.
The holders of the new shares are entitled to all shareholder rights from the
registration date, i.e. 18 October 2007. Listing of the new shares has been
applied for on the OMX Nordic Exchange Helsinki Oy together with the old shares
beginning 19 October 2007.
The share subscription period with stock options 2002A ended on 1 October 2007.
Teleste is an international technology group founded in 1954, which is
specialized in broadband data communication systems and solutions. The group is
divided into two Strategic Business Units: Broadband Cable Networks and Video
Networks. Broadband Cable Networks serves cable operators and a major part of
its business activities are handled through direct customer contact. Video
Networks supplies solutions for optical signal transmission and video network
management software solutions for video surveillance and a major part of its
business is handled through system integrators. Both Business Units are among
the leading providers in their market areas and are globally recognized for
their know-how and ability to produce technically cutting edge solutions year
after year. In 2006 the group's net sales totalled EUR 101.8 million and the
group employed 621 persons at the year-end. The company has approximately 30
offices world-wide and over 90% of Teleste's net sales are generated outside
Finland. The company is listed on the OMX Nordic Exchange Helsinki Oy. Visit
www.teleste.com for more information.
CFO Erja Saarikoski tel. +358 2 2605 685 or +358 40 550 9677
OMX Nordic Exchange Helsinki Oy