InterDigital Inc (IDCC)

[magillagorilla]

It seems to me that this looks like it could be a recipe to assuage unhappy shareholders, as well as an effort to booster a possible fall in stock price in the near future? If I am correct, it would seem that an announcement of settlement could possibly be made sometime after April 12th, and more precisely, before April 21st (Nokia reports Q1 on April 21st)

Magilla


Nokia Annual General Meeting: Dividend of EUR 0.33 per share for 2004; Nokia to repurchase own shares; Board and Committee members elected

April 07, 2005

Helsinki, Finland - The Annual General Meeting of Nokia Corporation held on April 7, 2005 (AGM) resolved to distribute a dividend of EUR 0.33 per share for 2004, as proposed by the Board of Directors. The ex-date of the dividend payment is April 8, 2005 and the record date is April 12, 2005. The dividend will be paid as of April 22, 2005.

The AGM resolved to grant a maximum of 25 million stock options to selected personnel of Nokia as a part of Nokia's equity-based incentive program for 2005, as proposed by the Board of Directors. The stock options entitle to subscribe for a maximum of 25 million Nokia shares. The intention is to grant stock options during the next two years. The stock options will be divided into sub-categories, the subscription periods of which will commence with a quarterly staggered commencement schedule. The sub-categories of stock options will have a life of approximately five years as from the moment of the grant, the last sub-categories expiring as of December 31, 2011. The subscription prices, i.e. exercise prices, will be determined at grant. The intention is to determine the exercise prices at fair market value.


The AGM resolved to reduce the share capital through the cancellation of 230 million Nokia shares currently held by the Company. The share capital will be reduced by transfer of the aggregate par value of these shares from the share capital to the share issue premium. As a result of the reduction, the shareholders' equity of the Company will not be reduced.

The AGM resolved to continue the authorizations held by the Board as proposed. It authorized the Board of Directors to increase the share capital by a maximum of EUR 53 160 000, disapplying the shareholders' pre-emptive right for subscription. The AGM further authorized the Board to repurchase a maximum of 443.2 million Nokia shares by using funds available for distribution of profits, and to dispose a maximum of 443.2 million Nokia shares held by the Company. The authorizations are effective until April 7, 2006.


Nokia to repurchase own shares
The Board of Directors confirmed its previously announced plan and resolved to repurchase Nokia shares under a share repurchase plan by using a maximum of EUR 5 billion for the repurchases, however, so that a maximum of 443.2 million Nokia shares be repurchased. (My calculations 5,000,000,000 divided by 443,200,000 = EUR 11.28 vs current 5/12/05 share price of EUR 11.73)

The shares to be repurchased on the basis of the authorization given by the AGM, effective until April 7, 2006, will be repurchased through public trading for purposes identified in the authorization. Shares may be repurchased by using certain derivative, share lending or other arrangements, in which case the repurchase price paid by the Company may differ from the market price of the day of execution of the arrangement. All shares, however, are to be purchased at a price based on the market price of the Nokia share in public trading.

The repurchases will commence no earlier than April 14, 2005.