Nokia 2008 Annual Report Download - page 138

Under the Policy, proposed services either (i) may be preapproved by the Audit Committee without a
specific casebycase services approvals (“general preapproval”); or (ii) require the specific pre
approval of the Audit Committee (“specific preapproval”). The Audit Committee may delegate either
type of preapproval authority to one or more of its members. The appendices to the Policy set out
the audit, auditrelated, tax and other services that have received the general preapproval of the
Audit Committee. All other audit, auditrelated (including services related to internal controls and
significant M&A projects), tax and other services are subject to a specific preapproval from the Audit
Committee. All service requests concerning generally preapproved services will be submitted to the
Corporate Controller who will determine whether the services are within the services generally pre
approved. The Policy and its appendices are subject to annual review by the Audit Committee.
The Audit Committee establishes budgeted fee levels annually for each of the four categories of audit
and nonaudit services that are preapproved under the Policy, namely, audit, auditrelated, tax and
other services. Requests or applications to provide services that require specific approval by the Audit
Committee are submitted to the Audit Committee by both the independent auditor and the Corporate
Controller. At each regular meeting of the Audit Committee, the independent auditor provides a report
in order for the Audit Committee to review the services that the auditor is providing, as well as the
status and cost of those services.
ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES
Not applicable.
ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS
The following table sets out certain information concerning purchases of Nokia shares and ADRs by
Nokia Corporation and its affiliates during 2008.
Period
(a) Total Number
of Shares
Purchased
(b) Average Price
Paid per Share
(EUR)
(c) Total Number
of Shares
Purchased as
Part of Publicly
Announced
Plans or
Programs
(d) Maximum
Number of Shares
that May Yet Be
Purchased Under
the Plans or
Programs
January 1/1/081/31/08 ...... 7240000 23.72 7 240 000 237 390 000
(1)
February 2/1/082/29/08 ..... 29100000 24.74 29 100 000 208 290 000
(1)
March 3/1/083/31/08 ........ 23000000 20.97 23 000 000 185 290 000
(1)
April 4/1/084/30/08 ......... 19300000 18.29 19 300 000 165 990 000
(1)
May 5/1/085/31/08 ......... 31570000 18.60 31 570 000 346 090 000
(2)
June 6/1/086/30/08 ......... 32920000 16.97 32 920 000 313 170 000
(2)
July 7/1/087/31/08.......... 10840000 17.44 10 840 000 302 330 000
(2)
August 8/1/088/31/08 ....... 3420000 17.75 3 420 000 298 910 000
(2)
September 9/1/089/30/08 .... — — — 298910000
(2)
October 10/1/0810/31/08 .... — — — 298910000
(2)
November 11/1/0811/30/08 . . — — — 298 910 000
(2)
December 12/1/0812/31/08 . . — — — 298 910 000
(2)
Total ..................... 157 390 000 157 390 000
(1)
On May 3, 2007, the Annual General Meeting authorized the Board of Directors to resolve to
repurchase a maximum of 380 million Nokia shares by using funds available for distribution of
profits. The authorization was effective until June 30, 2008.
(2)
On May 8, 2008, the Annual General Meeting authorized the Board of Directors to resolve to
repurchase a maximum of 370 million Nokia shares by using funds available for distribution of
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