Conversion of 1994 convertible subordinated debentures into Wärtsilä shares in 2004

Wartsila Corporation
  • Stock exchange release
29 April 2004 at 3:01 AM E. Europe Standard Time

Wärtsilä Corporation STOCK EXCHANGE ANNOUNCEMENT 29 April 2004, 16.45

Pursuant to the conversion rights under the convertible subordinated debentures floated by Wärtsilä Corporation in 1994, these notes were converted into shares between 2 January and 19 April 2004 as follows:

Of the loan principal convertible into A and B shares, EUR 7,228,720.24 has been converted into 300,860 A shares and 300,860 B shares.

Of the loan principal convertible into B shares only, EUR 17,407,457.92 has been converted into 1,449,000 B shares.

The loan principal remaining unconverted totals EUR 359,919.00 in respect of the notes convertible into A and B shares, and EUR 2,479,082.51 in respect of the notes convertible into B shares. The outstanding unconverted principal, EUR 2,839,001.51, will be repaid in its entirety with interest on 3 May 2004.
 

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