During Thursday’s Morning trade, Shares of Nokia Corporation (ADR) (NYSE:NOK), gained 0.86% to $7.00. The firm opened its current trade at $6.98, and as of now, it is trading at $7.00. The total volume traded for the day is 1.68M shares, as compared to its average daily volume of 10.38M shares. The stock is floating in a range of $6.96 - $7.01. The stocks hold the market capitalization of $25.93B.
Nokia declared, following the receipt of all required regulatory approvals for the planned combination of Nokia and Alcatel-Lucent, that the Nokia Board of Directors has resolved to convene an Extraordinary General Meeting to be held on December 2, 2015. The Board and its Corporate Governance and Nomination Committee submit the following proposals to the Extraordinary General Meeting:
- Proposal to authorize the Board of Directors to resolve to issue shares in order to implement the combination of Nokia and Alcatel-Lucent;
- Proposal to amend the Articles of Association of the company; and
- Proposal for changes to the composition of the Board of Directors.
The Board of Directors reiterates its approval of the transaction with Alcatel-Lucent and its unanimous recommendation to the Nokia shareholders to vote in favor of all of the above proposals made to the Extraordinary General Meeting.
Proposal to authorize the Board of Directors to resolve to issue shares in order to implement the combination of Nokia and Alcatel-Lucent
The Board of Directors proposes to the Extraordinary General Meeting that the Extraordinary General Meeting authorize the Board to resolve to issue in total a maximum of 2 100 million shares in one or more issues during the effective period of the authorization. The Board proposes the authorization in order to issue Nokia shares to the holders of Alcatel-Lucent shares, American Depositary Shares and convertible bonds, and beneficiaries of Alcatel-Lucent employee equity compensation arrangements, for the purpose of implementing the planned combination of Nokia and Alcatel-Lucent.
The Board proposes that the authorization comprises the right for the Board to resolve on all other terms and conditions of the issuance of shares. The authorization thereby comprises the right for issuance in deviation from the shareholders’ pre-emptive right to subscription within the limits set by law. The Board proposes that the authorization be effective until December 2, 2020.
Nokia Corporation (Nokia) invests in technologies. The Company operates through three business segments: Nokia Networks, HERE and Nokia Technologies. Nokia Networks offers network infrastructure software, hardware and services. Nokia Networks has two segments: Mobile Broadband and Global Services. HERE offers maps, a location platform, and location experiences across different screens and operating systems.
