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2008-05-15 16:20:00 CEST 2008-05-15 16:20:31 CEST REGULATED INFORMATION Citycon Oyj - Company AnnouncementCitycon's share-based incentive plan - amount of incentives for 2007 and directed share issue without paymentCITYCON OYJ Stock Exchange Release 15 May 2008 at 17.20 hrs The Board of Directors of Citycon Oyj has on 26 April 2007 resolved to set up a share-based incentive plan for the Group's key personnel. The Board of Directors of Citycon has today confirmed the amount of incentives that shall be granted for the first earning period 1 January-31 December 2007. In accordance with the terms and conditions of the incentive plan, one third of the incentives shall be paid in 2008 and the rest in 2009 and in 2010. In 2008, this one third of the incentives totals 7,040 shares which will be granted to 16 persons of the corporate management and other key personnel. The incentives paid under the incentive plan for the year 2007 were determined on the basis of the growth of Citycon Group's adjusted earnings per share and net rental income. The incentive plan in its entirety covers years 2007-2009 and the potential incentives will be granted to the key personnel during the years 2008-2012. The Board of Directors annually resolves on the key personnel participating in the incentive plan and sets the incentive goals. The incentives may be granted in the form of the company's shares and/or in the form of cash payment following the end of each earning period. On 13 March 2007 the Annual General Meeting authorized the Board of Directors to resolve on a directed share issue. The Board of Directors of the company has today, on 15 May 2008, resolved to grant the persons participating in the incentive plan the incentives in the form of shares in accordance with the terms and conditions of the incentive plan by means of a directed share issue without payment comprising a total of 7,040 new shares in the company. The issued new shares are of the same class as the other company shares and will entitle to shareholders' rights once entered in the Trade Register. The issue does not change the share capital of the company. The new shares issued by means of the directed share issue without payment will be registered with the Trade Register on or about 19 May 2008 and will be admitted for public trading on the OMX Nordic Exchange Helsinki on or about 20 May 2008. In accordance with a decision by the Finnish Financial Supervision Authority dated 14 May 2008, the company is granted an exemption from the duty to publish a prospectus regarding the issued shares. In conjunction with the granting of the first share incentives the Board of Directors of the company also decided to issue a recommendation regarding the Corporate Management Committee members' shareholding in the company. In accordance with the recommendation, the CEO of the company shall own the company's shares at least for the value corresponding to his two years' annual net salary and other Corporate Management Committee members for the value corresponding to his/her six months' net salary. Helsinki, 15 May 2008 CITYCON OYJ Board of Directors For further information, please contact: Petri Olkinuora, CEO, tel. +358 9 6803 6738 or mobile +358 400 333 256 Distribution: OMX Nordic Exchange Helsinki Major media www.citycon.fi |
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