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2013-06-20 10:15:00 CEST 2013-06-20 10:15:01 CEST REGULATED INFORMATION Honkarakenne Oyj - Company AnnouncementTHE BOARD OF DIRECTORS OF HONKARAKENNE OYJ RESOLVED ON A KEY EMPLOYEES INCENTIVE PLANHelsinki, Finland, 2013-06-20 10:15 CEST (GLOBE NEWSWIRE) -- Honkarakenne Oyj Stock Exchange Release 20 June 2013 at 11.15 a.m. THE BOARD OF DIRECTORS OF HONKARAKENNE OYJ RESOLVED ON A KEY EMPLOYEES INCENTIVE PLAN The Board of Directors of Honkarakenne Oyj has approved a new share based incentive plan for the Group key employees. The aim of the new long-term Plan is to combine the objectives of the shareholders and the key employees in order to increase the value of the Company, to commit the key employees to the Company, and to offer them a competitive reward plan that is based on the Company strategy and on the earning of Honkarakenne shares. The performance period of the new Plan began on January 1, 2013 and will end on December 31, 2016. The potential reward for the performance period is based on the cumulative earnings/share (EPS) 2013—2016 and on the average return on capital employed (ROCE) 2013—2016. Any rewards for the performance period 2013-2016 will be paid partly as B-shares and partly in cash in 2017. The cash proportion is intended to cover taxes and tax-related costs arising from the rewards to the key employees. No reward will principally be paid, if a key employee's employment or service at the Company ends before reward payment. The members of the Executive Group of Honkarakenne Oyj will belong to the target group of the Plan. The reward to be paid on the basis of the performance period 2013-2016 corresponds to a total maximum of approximately 340,000 B-shares, including the amount to be paid in cash. ”There will be significant changes within Honkarakenne during the year. We have the management team up and running to lead the company for success. A share based incentive plan is one of the tools that the Board uses in guiding the company towards better competitiveness”, states Mr Lasse Kurkilahti, the Chairman of the Board. In addition, the Board of Directors has decided to start planning an incentive plan to commit the entire personnel of Honkarakenne. HONKARAKENNE OYJ Mikko Kilpeläinen President and CEO Further information: Mr Mikko Kilpeläinen, President and CEO, tel +358 50 542 5884, mikko.kilpelainen@honka.com DISTRIBUTION NASDAQ OMX Helsinki Oy Key media Financial Supervisory Authority www.honka.com |
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