|
|||
2011-03-23 09:05:00 CET 2011-03-23 09:05:23 CET REGULATED INFORMATION Vacon - Changes in company's own sharesConveyance of Vacon Plc own shares under Vacon Plc's share bonus schemeVacon, Stock Exchange Release, March 23, 2011 at 10.05 am Vacon's Board of Directors has confirmed that the 2010 bonus in the share bonus scheme is 95.5 % of the maximum. The Board has decided to convey without consideration 45,557 Vacon shares held by the company to the recipients of the bonus as the share portion of the total bonus. Under the share bonus scheme, 55 % of the total bonus is paid in cash and 45 % in shares. There are 44 people belonging to company management and personnel who will receive the bonus for the 2010 earning period. The shares will be conveyed on 20 April 2011. Vacon's Board of Directors decided in January 2008 to introduce a share bonus scheme as part of the Group's commitment and incentive programme for personnel. The scheme is divided into three separate one year earning periods, which were the calendar years 2008, 2009 and 2010. Any shares earned as a bonus must be held for two calendar years after the end of the earning period. Those belonging to the bonus scheme have the opportunity, in each of the three years, to earn a bonus of shares based on the company's financial success. The criteria were revenues, operating profit (EBIT) and working capital turnover. After conveying these shares the Company held 35,008 of its own shares. Vacon Plc Further information: * President and CEO, Vesa Laisi, Phone +358 (0)40 837 1510 Press contact: * Director, Corporate Communications, Sebastian Linko, Phone +358 40 837 1634 Vacon in brief:Vacon is driven by a passion to design, manufacture and sell only the best AC drives on the planet - and nothing else. AC drives can be used to control electric motors or to help generate power from renewable sources. Vacon has R&D and production units in Finland, the United States, China and Italy, and sales offices in 27 countries. In 2010, Vacon had revenues of EUR 338 million and globally employed 1,300 people. Vacon's shares (VAC1V) are listed and publicly traded on the Helsinki Stock Exchange. Driven by Drives, www.vacon.com DISTRIBUTION: NASDAQ OMX Helsinki Financial Supervisory Authority Main Media [HUG#1499281] |
|||
|