Citycon's share capital reduction and amendment to the Articles of Association

CITYCON OYJ STOCK EXCHANGE ANNOUNCEMENT 6 April 2005 at 9.00 Citycon's share capital reduction and amendment to the Articles of Association registered Decisions taken by Citycon's Annual General Meeting on 5 April 2005 on the reduction of the company's share capital through cancellation of own shares and on the amendment to Articles 3 and 12 of the Articles of Association were entered in the Trade Register today. Share capital was reduced by EUR 5,229,900 from EUR 156,780,033.30 to EUR 151,550,133.30 through cancellation without payment of 3,874,000 Citycon shares held by the company. The reduction of the share capital was executed by transferring the total nominal value of the cancelled shares to share premium fund with no effects on the restricted shareholders' equity. The reduction of the share capital had no effect on the distribution of shareholdings and voting rights in the company, since the cancelled shares were held by the company. Article 3 of the Articles of Association was amended so that the maximum share capital of the company is EUR 500,000,000 and Article 12 was amended so that the notice to a general meeting shall be submitted to the shareholders by means of an advertisement published in at least one nationwide newspaper appearing in Helsinki. Attached Annex shows the exact wording of the amendments. In other respects, the Articles of Association remain unchanged. CITYCON OYJ Petri Olkinuora CEO Additional information: Petri Olkinuora, GSM +359 400 333 256 Distribution: Helsinki Stock Exchange and main media ANNEX New wording of the Articles 3 and 12.1 of the Articles of Association: Article 3: The minimum share capital of the company is one-hundred million euros (EUR 100,000,000) and the maximum share capital is five-hundred million euros (EUR 500,000,000), within which limits the share capital may be increased or reduced without amending the Articles of Association. Article 12 Section 1: The notice to a general meeting shall be submitted to the shareholders by means of an advertisement published in at least one nationwide newspaper appearing in Helsinki. ----------

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