HELSINKI, Finland, May 8, 2003 (PRIMEZONE) -- In it's meeting on May 8, 2003, Proha Plc Board of Directors approved the subscriptions of the option issue that is part of Proha's incentive system. In the issue, a total of 824,055 Proha Plc stock options were subscribed, entitling to the subscription of 824,055 shares. The stock options were granted without compensation to the key personnel of Proha Group. The Annual General Meeting distributed 450,000 of stock options to the members of the Board of Directors of Proha Plc and the Board of Directors decided on the distribution of the remaining stock options.
The Board confirmed the subscription price for the shares subscribed on the basis of the stock options as EUR 0,50 per share. The confirmed share subscription price for the options is the weighted average price of the Company share from April 1, 2003 through April 30, 2003 and thus corresponds to the fair market price.
In it's meeting on April 24, 2003, the Annual General Meeting decided to issue a total maximum of 850,000 stock options. The terms and conditions of the option issue were published in the Notice of General Annual Meeting on March 18, 2003.
Proha Plc Pekka Pere CEO
CEO Pekka Pere
tel +358 (0)20 4362 000
pekka.pere@proha.com
www.proha.com
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