KCI Konecranes share capital reduction entered into the Trade Register

The Extraordinary Meeting of Shareholders of KCI Konecranes International Plc held on 20 December 2002 decided to decrease the share capital of the company through an invalidation of the company’s own shares.

KCI Konecranes International Plc’s share capital reduction was entered today into the Trade Register. The share capital was reduced by EUR 1,382,740 from EUR 30,000,000 to EUR 28,617,260 through an invalidation of the shares in the company owned by the company, a total of 691,370 shares.

After the invalidation of the company’s own shares, to total number of outstanding shares in the company amounts to 14,308,630 shares. The nominal value of each share is EUR 2.00.

The reduction was executed by transferring an amount corresponding to the decrease of the share capital from the share capital to the premium fund. Therefore the decrease of share capital had no effect the tied equity of the company. The decrease of the share capital did not either effect the terms of the bond loan with warrants that was issued in 1997 or the terms of the option rights that were issued in 1999 and 2001. The share capital reduction has no effect on the distribution of shareholdings and voting rights in the company, since the invalidated shares were held by the company.

For further information, please contact:
KCI Konecranes International Plc
Sirpa Poitsalo, Director, General Counsel
Tel. +358-20 427 2011