Nokia 2015 Annual Report Download - page 63

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61
Board review
NOKIA IN 2015
Material subsequent
events
After December 31, 2015, the following
material events have taken place.
■On January 4, 2016, the results of our
public exchange offer for all outstanding
Alcatel Lucent securities were announced.
We made an offer for all Alcatel Lucent
securities in France and in the United States
from November 18, 2015 until December
23, 2015 and the offer resulted in us
holding 76.31% of the share capital and at
least 76.01% of the voting rights of Alcatel
Lucent, 89.14% of the OCEANEs 2018
outstanding, 24.34% of the OCEANEs 2019
outstanding, and 15.11% of the OCEANEs
2020 outstanding. This equated to us
holding 70.52% of the Alcatel Lucent
sharecapital on a fully diluted basis.
Consequently, on January 6, 2016 Nokia
issued 1 455 678 563 new shares in
deviation from shareholders’ pre-emptive
right to subscription based on an
authorization by the Extraordinary General
Meeting held on December 2, 2015 in
exchange for the Alcatel Lucent securities.
The registration of the shares and the
settlement of the offer took place on
January 7, 2016.
■On January 14, 2016, we announced that
we had reopened our public exchange offer
in France and in the United States for all
outstanding Alcatel Lucent securities in
accordance with French law until February 3,
2016, which provided an opportunity for
holders of Alcatel Lucent securities who
didnot tender into the initial exchange offer
to participate in the reopened offer and
exchange their securities for shares or
American Depository Shares (“ADSs”) in
Nokia. On February 10, 2016, the results of
our reopened public exchange offer for all
Alcatel Lucent securities were announced.
“On February 10, 2016,
the results of our
reopened public
exchangeoer for all
outstanding Alcatel
Lucent securities were
announced. The
reopened oer period
resulted in us holding
90.34% of the share
capital of Alcatel Lucent.”
The reopened offer period resulted in us
holding 90.34% of the share capital and at
least 90.25% of the voting rights of Alcatel
Lucent, 99.62% of the OCEANEs 2018,
37.18% of the OCEANEs 2019 and 68.17%
of the OCEANEs 2020. This equated to us
holding 87.33% of the share capital of
Alcatel Lucent on a fully diluted basis.
Consequently, we issued 320 701 193
newshares in deviation from shareholders’
pre-emptive right to subscription based
onan authorization by the Extraordinary
General Meeting held on December 2, 2015
in exchange for the Alcatel Lucent
securities. The registration of the shares
and the settlement of the reopened offer
took place on February 12, 2016.
■On February 1, 2016, we announced that
wehad received the decision in the patent
licensing arbitration between Nokia and
Samsung. The award covers five years from
January 1, 2014 until December 31, 2018.
The outcome of the arbitration was
reflected in the 2015 financial statements
as far as it relates to the years presented.
■On February 21, 2016, Nokia Growth
Partners (NGP) announced the closing of a
new USD 350 million fund for investments
in IoTcompanies. The fund is sponsored
byNokia and will serve toidentify new
opportunities to grow the ecosystem in IoT
solutions. The fund IV commitment brings
NGP’s total assets under management to
over USD 1 billion, including USD 500 million
available for newinvestments.