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In accordance with the Articles of Association, the minimum share capital of Stora Enso Oyj (later referred to as "Company" or "Stora Enso") is EUR 850 million and the maximum EUR 3 400 million within which limits the share capital may be increased or decreased without amending the Articles of Association. The counter value of the shares is EUR 1.70 per share. On 31 December 2002 the Company's fully paid-up share capital entered in the Finnish Trade Register was EUR 1 529.6 million. In December 2002, 3 000 new series R shares were subscribed under 1997 warrants and registered in the Finnish Trade Register on 9 January 2003.
Shares and Voting Rights
The Company's shares are divided into series A and series R shares. All shares carry equal rights to dividend but different voting rights. At a Shareholders' Meeting, each A share and each ten R shares carry one vote. However, each shareholder has at least one vote. On 31 December 2002 the total number of shares was 899 778 299 and the number of votes 254 062 846.
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