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2012-02-16 08:15:00 CET 2012-02-16 08:15:41 CET REGULATED INFORMATION Tikkurila Oyj - Company AnnouncementTikkurila's Board of Directors decided on a share-based commitment and incentive planTikkurila Oyj Stock Exchange Release February 16, 2012 at 9:15 a.m. (CET+1) In order to commit and motivate key personnel, the Board of Directors of Tikkurila Oyj has decided on a new share-based plan. The new share-based plan includes three performance periods: financial years 2012-2014, 2013-2015 and 2014-2016. The Board of Directors of the company will decide on the performance criteria of the plan and their targets at the beginning of each performance period. The prerequisite for participation in the plan and receipt of reward provides that a key employee purchases Tikkurila's shares from the market in accordance with the terms and conditions of the plan. The potential reward from the performance period 2012-2014 is based on the Tikkurila Group's Operative Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and Net Debt. Furthermore, a key employee will have a possibility to earn a reward, which is tied to the validity of employment or service relationship. The amount of rewards depends on the number of purchased shares and the fulfillment of the performance criteria. Rewards will be paid in 2015 partly in the company's shares and partly in cash. No reward will be paid if a key employee's employment or service contract terminates before the reward payment. The target group of the share-based plan consists of 10 key employees. The rewards to be paid on the basis of the performance period 2012-2014 correspond to the value of a maximum total of approximately 220,000 Tikkurila Oyj shares (including also the proportion to be paid in cash). Tikkurila Oyj Board of Directors For further information, please contact: Tikkurila Oyj Jari Paasikivi, Chairman of the Board, mobile +358 500 530 375 For 150 years already, Tikkurila has provided consumers and professionals with user-friendly and sustainable solutions for surface protection and decoration. Tikkurila wants to be the leading paint company in the Nordic area as well as in Russia and other selected Eastern European countries. - Tikkurila inspires you to color your life. www.tikkurilagroup.com [HUG#1586442] |
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