Turku, Finland, 2015-05-15 12:00 CEST (GLOBE NEWSWIRE) --
TELESTE CORPORATION STOCK EXCHANGE RELEASE 15.5.2015 AT 13:00
TRANSFER OF OWN SHARES AS PART OF ACQUISITION OF TELESTE MANAGEMENT II SHARES
Teleste Corporation has transferred a total of 195,133 own shares held by the company for consideration of all of the Teleste Management II Oy shares. The company has published a release on the acquisition of all of the Teleste Management II Oy shares by means of shares and cash on 12 May 2015. The transfer of own shares is based on the share issue authorization granted by the Annual General Meeting of Shareholders on 1 April 2014.
Teleste Management II Oy holds 542,000 Teleste Corporation shares.
The value of the shares transferred by the company and the Teleste Corporation shares held by Teleste Management II Oy was EUR 7.09 per share in the share transfer and in the acquisition of the Teleste Management II Oy shares.
After the transfer of the shares, the company owns directly 321,953 shares and indirectly 542,000 shares through Teleste Management II Oy.
Teleste is an international technology company that develops and offers video and broadband technologies and related services. Our supply of technology contributes to the convenience and safety of daily living. Our core business is video - video and data processing, transfer and management. Our customer base consists of cable and telecom operators, as well as public sector organizations. Our business is divided into two divisions, which are Video and Broadband Solutions and Network Services. In both areas, we rank among the world's leading companies and technological forerunners. Video and Broadband Solutions focuses on access networks and video security and information solutions. Network Services offers comprehensive services for access network design, construction and maintenance. In 2014, Teleste's net sales totaled EUR 197 million, and the company employed more than 1,400 people. Teleste runs a worldwide network of offices and more than 90% of its sales are generated outside Finland. The company is listed on the Nasdaq Helsinki. For more information see www.teleste.com
CEO Jukka Rinnevaara, phone +358 2 2605 866 or +358 400 747 488