Tulikivi Oyj - Company Announcement

The Board of Directors of Tulikivi Corporation decided on a New Stock Option Plan

TULIKIVI CORPORATION                          Stock Exchange Release

                                                                    17
September 2013 at  4.30 p.m. 





The Board of Directors of Tulikivi Corporation decided on a New Stock Option
Plan 



Tulikivi will launch a new key employee stock option plan. The company has a
weighty financial reason for the issue of stock options, since the stock
options are intended to form part of the incentive and commitment program for
the Group key employees. The purpose of the stock options is to encourage the
key employees to work on a long-term basis to increase shareholder value. The
purpose of the stock options is also to commit the key employees to the
company. 



The maximum total number of stock options issued is 1,800,000, and they entitle
their owners to subscribe for a maximum total of 1,800,000 new series A shares
in the company or existing series A shares held by the company. The stock
options will be issued gratuitously. Of the stock options, 580,000 are marked
with the symbol 2013A, 610,000 are marked with the symbol 2013B and 610,000 are
marked with the symbol 2013C. 



The number of series A shares subscribed by exercising stock options now issued
corresponds to a maximum total of 4.62 per cent of all shares and 1.44 per cent
of all votes in the company, and a maximum total of 6.12 per cent of series A
shares and 6.12 per cent of the votes of series A shares after the potential
share subscription, if new shares are issued in the share subscription. 



The share subscription price of the stock options 2013 will be equivalent to
the share subscription price in the company's planned share issue 2013. The
share subscription price will be credited to the reserve for invested
unrestricted equity. Each year, the per-share dividends and equity returns will
be deducted from the share subscription price. 



The share subscription period, for stock option 2013A will be 1 May 2016—31 May
2018, for stock option 2013B, 1 May 2017—31 May 2019, and for stock option
2013C, 1 May 2018—31 May 2020. The share subscription period will not, however,
begin unless certain financial targets related to the company's performance
improvement program and established by the Board of Directors for each stock
option class have been fulfilled. 



After the share subscriptions with stock options, the number of the company's
shares may be increased by a maximum total of 1,800,000 series A shares, if new
shares are issued in the share subscription. 



The Board of Directors will annually decide upon the distribution of stock
options to the key employees. The Board of Directors will decide upon the
distribution of stock options 2013A approximately in November 2013. 



The Board of Directors decided on the new stock option plan on the basis of the
authorization granted by the company's Annual General Meeting held on 16 April
2013. Approximately 13 key employees, including the members of the Tulikivi
Group's Management Group, belong to the target group of the plan. For all key
employees, the prerequisite for receiving stock options is share ownership in
the company. The terms and conditions of the stock options 2013 are attached to
this release.   The Board of Directors is also planning an incentive pay scheme
for 2014 covering all personnel and based on achieving the targets of the
performance improvement programme. 





TULIKIVI CORPORATION

Board of Directors



Distribution: NASDAQ OMX Helsinki Ltd

Key Media

www.tulikivi.com



Additional information: Tulikivi Corporation, FIN-83900 Juuka, www.tulikivi.com

 - Heikki Vauhkonen, Managing Director, tel. +358 207 636 555

 - Harri Suutari, Chairman of the Board of Directors, tel. +358 400 384 937





Attachment:

Terms and Conditions of Tulikivi Corporation Stock Options 2013

Attachments:

Stock Exchange release 170913 Attachment and Conditions of Tulikivi Corporation Stock Opstions 2013.pdf