1996 bond with warrants scheme ends and share subscription on basis of warrants

Wärtsilä Corporation, Stock exchange release, 12 May 2003 at 14:00 UTC+2

Wärtsilä Corporation’s 1996 bond with warrants scheme has fully ended on 2 May 2003. The bond with warrants scheme included bonds and warrants.

The maximum amount, FIM 180,000, of the loan was subscribed. The bond certificates were redeemed and the principal repaid to the subscribers on 2 May 2003.

On the basis of the 1996 warrants, a total of 148,800 Wärtsilä B shares were subscribed in the period 2 January – 2 May 2003 with 124 warrants.

During the period of the 1996 bond, a total of 180 warrants were exercised to subscribe for a total of 216,000 B shares.