On 19 December 2005 the Extraordinary General Meeting of shareholders of Orion Corporation approved the proposal of the company's Board of Directors concerning the demerger of Orion Corporation into two new companies. As a result of the decision on the demerger, the revised timelines of the company's 2001 Stock Option Plan, changed by decision of the Board of Directors on 8 November 2005, will take effect as follows:
The company applies for the listing of the D-options in the year 2001 Stock Option Plan on the Helsinki Exchanges as of 2 January 2006. The total number of the '2001D' options is 450,000 and they entitle the holders to subscribe for a maximum of 900,000 Orion B-shares. The subscription period is 2 January 2006 to 31 May 2006.
The subscription period for the 2001A/B and 2001C options, which has already begun, will end on 31 May 2006.
The last possible trading day with the options on the Helsinki Exchanges is 23 May 2006.
The current subscription price of Orion Corporation's B-shares with options 2001A/B is EUR 10.27. This price will be reduced by future dividends paid per share on each record date for the dividend payment. The C-options entitle the holders to subscribe for B-shares at the price of EUR 8.835 and the D-options at the price of EUR 8.86 per share. The subscription price of shares subscribed for with the C- or D-options is reduced by special dividends, determined by the Board of Directors, that deviate from the company's standard dividend policy.
On 24 August 2004 the Financial Supervision Authority granted Orion Corporation an exception from the obligation to publish the Listing Particulars concerning the options of the year 2001 Stock option Plan.
The information on the Stock Option Plan is available on the company's website at www.orion.fi/Investors, in the section concerned with the share capital.
Jukka Viinanen Jari Karlson
President and CEO CFO
Orionintie 1A, 02200 EspooHomepage: www.orion.fi