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Conversion of A shares into R

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​According to section 14 of Stora Enso Oyj's Articles of Association, the request for conversion of series A share to series R share by a shareholder who owns series A shares can be made at any time.
 
Conversion of shares is voluntary: shares will be converted only upon the request of a shareholder or, if the shares are registered in the name of a nominee, upon the request of the nominee entered in the book-entry register. Shareholders who do not want to convert their A shares into R shares, do not have to take any action.

Each A share and each ten R shares entitle a shareholder to one vote at the shareholders' meeting. However, each shareholder shall have at least one vote. Both series of shares entitle to equal dividend. Stora Enso's A and R shares are listed on the Nasdaq Helsinki and Stockholm.​
In Finland (Euroclear Finland registered shares) conversion request must be delivered by mail to: 
 
Nordea Pankki Suomi Oyj
2548 Asset Services Fi
Aleksis Kiven katu 3-5, VC210
00020 NORDEA
 
In addition, Nordea Bank’s branches in Finland accept conversion requests. However, conversion request must reach the above-mentioned address prior to each request deadline.
Once a shareholder has requested for the conversion the restriction of transfer will be entered into the book-entry account, which means that the A shares cannot be sold prior to the conversion.
The A shares will be converted into R shares when a register entry to that effect is made in the Finnish Trade Register. Conversion requests received before the end of each calendar month will be registered on or around the 15th day of the next month.
Please find conversion instructions (letters sent in 2003) and conversion request forms on right.
In Sweden (Euroclear Sweden registered shares) conversion requests must be delivered by mail to: 
 
Nordea Bank AB
Issuer Services, R 530
SE-105 71 Stockholm
Sweden
 
Shareholder who has their shares on a VP account should send the conversion request directly to Nordea must contact the custodian and order them to converse A shares to R shares. The custodian sends the conversion request to Nordea.
In addition, Nordea Bank´s branch offices in Sweden accept conversion requests. Conversion requests must reach the above-mentioned address prior to each request deadline.
Once a shareholder has requested for the conversion the restriction of transfer will be entered into the book-entry account, which means that the A shares cannot be sold prior to the conversion. 
The A shares will be converted into R shares when a register entry to that effect is made in the Finnish Trade Register. Conversion requests received before the end of each calendar month will be registered on or around the 15th day of the next month.

 
​​​Stora Enso may decide and inform of non-conversion period’s e.g. prior to shareholders’ meetings. A request for the conversion of shares may be made at any time, with the exception of the period beginning with the passing of a resolution by the Board to convene a Meeting of Shareholders. Any conversion request made during the time falling between said resolution and the following Meeting of Shareholders shall be deemed to have arrived, and shall be processed, after the Meeting of Shareholders and, where applicable, the record date that follows.​

​​Conversion request must be received by Nordea latest​Estimated trade register entryR shares in book-entry account, estimate, Finland​​R shares in book-entry account, estimate, Sweden​
2016
​31 Oct15 Nov​16 Nov​22 Nov​
​30 Nov15 Dec​16 Dec​22 Dec​
30 Dec ​16 Jan 2017​17 Jan ​23 Jan
​2017
​31 Jan15 Feb​​16 Feb22 Feb​
28 Apr​15 May​16 May​​22 May
​31 May15 Jun​​16 Jun​22 Jun
​30 Jun17 Jul​​18 Jul24 Jul​
​31 Jul​15 Aug16 Aug​​22 Aug
​31 Aug​14 Sep15 Sep​​21 Sep
​29 Sep16 Oct​​17 Oct​23 Oct
​31 Oct15 Nov​​16 Nov22 Nov​
​​30 Nov14 Dec​15 Dec​​21 Dec​
 
Why convert A shares into R shares?
There are at least the following three reasons why a shareholder may wish to convert A shares into R shares. First, the R shares are more heavily traded on the stock markets. Second, the share price has sometimes been higher for R shares than A shares. Third, it might be an advantage for a shareholder that owns both A and R shares to combine the holdings into one share series, for example cost savings from reduced deposit fees. 
 
What are the effects of conversion?
The conversion ratio is 1:1, thus the number of shares held and the right to dividends will remain unchanged, whereas the shareholder's total number of votes will decrease. Stora Enso is not aware of any tax consequences resulting from converting A shares into R shares.
 
Costs of conversion?
An account operator/custodian is entitled to charge a fee for the conversion in accordance with the applicable fee schedule as agreed between the account operator/custodian and the shareholder. Shareholders are advised to check the applicable fees in advance with their own account operator/custodian. In Sweden there are no fees applicable for shareholders holding the shares in a VP account.
 
How are the series A shares converted?
A conversion request must be made in writing using the enclosed conversion request forms. The forms for Euroclear Finland registered shareholders are available in Finnish, Swedish and English and for Euroclear Sweden registered shareholders in Swedish and English. The forms are also available in Finland at Nordea Bank's asset management branches and in Sweden at Nordea Bank's branch offices. Fax, telephone or e-mail instructions cannot be accepted.
 
How to cancel a conversion request?
The request for the conversion may be cancelled at any time until the conversion is entered in the Finnish Trade Register. In Sweden the cancellation must be given before the A shares are transferred from Euroclear Sweden to Finland. The request for cancellation must be submitted in writing and by giving the same information as was given in the conversion request. The cancellation must be delivered in the same way as the conversion request. After the cancellation, the restriction of transfer will be removed from the shareholder’s book-entry account.