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HELSINKI, Finland, Mar 6, 2008 - (ABN Newswire) - YIT CORPORATION CORPORATE RELEASE 6 March, 2008 at 15:30
TRADING AND SHARE SUBSCRIPTIONS WITH YIT'S SERIES K, L AND M SHARE OPTIONS IN 2008
YIT Corporation has applied for the listing of the Series M share options issued in 2006 on the OMX Nordic Exchange in Helsinki such that trading would begin on April 1, 2008. YIT's Series K and L share options, issued in 2006, are listed on the OMX Helsinki, and in 2008 shares can be subscribed for with them as from April 1.
Furthermore, YIT Corporation has applied for the listing of an additional lot of the company's shares on the OMX Nordic Exchange in Helsinki. The application concerns the new shares subscribed for with the Series K, L and M share options in 2008.
Share subscriptions
Each Series K, L and M share option entitles its holder to subscribe for one YIT Corporation share (YTY1V).
A total maximum of 300,000 shares can be subscribed for with Series K share options, max 900,000 shares with Series L share options and max 900,000 shares with Series M share options.
The subscription price of a share subscribed for with either Series K or L share options is EUR 20.53 per share. The subscription price of a share subscribed for with the Series M share options is EUR 19.73 per share given that the Annual General Meeting decides that dividend per share is EUR 0.80.
The shares can be subscribed for annually during the period from April 1 - November 30. The subscription period with the Series K and L share options is in 2007-2008 and with Series M share options in 2008-2009.
Share subscriptions will be made at Nordea Bank Finland plc's investment advisory branches.
The shares entitle their holder to a dividend as from the date of subscription. Other rights will vest when the share capital increase has been entered in the Trade Register. The terms and conditions of the share option programmes as a whole are presented on the company's internet site www.yitgroup.com.
Increases in the share capital
It is intended that the increases in the share capital on the basis of the subscriptions will be carried out in 2008 as follows:
+-------------------------------------------------------------------+ | Share subscription | Entry into the Trade | New shares | | deadline | Register | listed | |--------------------+---------------------------+------------------| | April 18, 2008 | April 29, 2008 | April 30, 2008 | |--------------------+---------------------------+------------------| | June 10, 2008 | June 19, 2008 | June 23, 2008 | |--------------------+---------------------------+------------------| | August 14, 2008 | August 22, 2008 | August 25, 2008 | |--------------------+---------------------------+------------------| | October 23, 2008 | October 31, 2008 | November 3, 2008 | |--------------------+---------------------------+------------------| | November 28, 2008 | December 8, 2008 | December 9, 2008 | +-------------------------------------------------------------------+
General information on the issuer
Name: YIT Corporation
Domicile: Helsinki
Registration date: August 31, 1940
Legal form and applicable law: Public limited company, Finnish law
Group to which the issuer belongs and its position in it: the YIT Group's parent company
Field of business according to the Articles of Association: The objects of the Company are to engage in production in the construction industry, manufacture and leasing of and trade with building materials and components, and building engineering, network services and industrial turn-key projects, including operation, servicing and maintenance activities related to the foregoing in Finland and abroad. In addition to the foregoing activities, the Company shall buy and sell real estate property and shares in real estate and housing companies as well as lease and maintain apartments and properties complete with buildings and facilities and engage in other activities related to the foregoing. The Company may also trade in securities. The Company may engage in the activities in accordance with its declared objects either directly and/or through its subsidiaries and affiliated companies and joint ventures. In its capacity as the parent company in the Group, the Company may assume responsibility for the administration, human resources management, finances, legal affairs and communications on behalf of the Group and other joint services and tasks.
Register in which the issuer is recorded and Business ID: Trade Register, Business ID 0112650-2
The terms of the share option programmes as a whole and YIT Corporation's Articles of Association are available on the company's internet site, www.yitgroup.com. The company's Corporate Governance is presented in the Annual Report and the company's internet site. For additional information, contact: Marja Salo, Director of Administration, tel. +358 20 433 2470, marja.salo@yit.fi Jaakko Mäkynen, Vice President, Finance, tel. +358 20 433 2307, jaakko.makynen@yit.fi
YIT CORPORATION
Juha Kostiainen Vice President, Corporate Communications and Business Development
Distribution: OMX Nordic Exchange in Helsinki, principal media, www.yitgroup.com
