INCREASING OF RAUTAKESKO LTD’S AND KESKO AGRO LTD’S SHARE CAPITAL AGAINST PROPERTY GIVEN AS SUBSCRIPTION IN KIND

As part of the incorporation of Kesko Corporation’s business operations, Rautakesko Ltd’s and Kesko Agro Ltd’s Extraordinary General Meetings made decisions on 24 August 2001 to increase the companies’ share capital against property given as subscription in kind. According to the decisions, Kesko Corporation pays for the new shares by assigning, as property given as subscription in kind, the assets, liabilities, depreciation reserve and provisions related to the hardware and builders’ supplies business to Rautakesko Ltd and related to the agricultural business to Kesko Agro Ltd in accordance with the situation on 30 September 2001.

A continuation meeting of Rautakesko Ltd’s Extraordinary General Meeting has today approved the share subscription made by Kesko Corporation, in which 19,990 new shares with a nominal value of EUR 1,000 have been subscribed for. The share subscription price confirmed was the amount of the net subscription in kind in accordance with a calculation based on the property assigned divided by the number of new shares. When the amount of the net subscription in kind was EUR 39,322,672.67434, the subscription price determined was EUR 1,967.11719 per share. After the increase in the share capital has been entered in register, the share capital of Rautakesko Ltd entered in the Trade Register is EUR 20,000,000.

A continuation meeting of Kesko Agro Ltd’s Extraordinary General Meeting has today approved the share subscription made by Kesko Corporation, in which 19,990 new shares with a nominal value of EUR 1,000 have been subscribed for. The share subscription price confirmed was the amount of the net subscription in kind in accordance with a calculation based on the property assigned divided by the number of new shares. When the amount of the net subscription in kind was EUR 27,492,290.92643, the subscription price determined was EUR 1,375.30219 per share. After the increase in the share capital has been entered in register, the share capital of Kesko Agro Ltd entered in the Trade Register is EUR 20,000,000.

Further information: Rautakesko Ltd’s and Kesko Agro Ltd’s President Matti Halmesmäki, telephone +358 1053 20810 and Kesko Corporation’s Vice President Paavo Rönkkö, Corporate Financial Controller, telephone +358 1053 22569.

Kesko Corporation
Corporate Communications

Erkki Heikkinen
Senior Vice President

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