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2010-04-29 14:19:48 CEST 2010-04-29 14:20:40 CEST REGULATED INFORMATION Ponsse Oyj - Company AnnouncementTHE BOARD OF DIRECTORS OF PONSSE PLC RESOLVED ON AN INCENTIVE PLAN FOR KEYPONSSE PLC STOCK EXCHANGE RELEASE 29 APRIL 2010 THE BOARD OF DIRECTORS OF PONSSE PLC RESOLVED ON AN INCENTIVE PLAN FOR KEY PERSONNEL The Board of Directors of Ponsse Plc has decided to continue the share-based incentive plan for the Group key personnel introduced by the Company in 2008. The aim of the Plan is to combine the objectives of the shareholders and the key personnel in order to increase the value of the Company, to commit the key personnel to the Company, and to offer them a competitive reward plan based on holding the Company shares. ”The incentive plan for the Group's key personnel is a part of long-term company development. Throughout Ponsse's 40-year history, the personnel have been one of the most important resources in the company. The aim of the incentive plan is to engage key employees in different parts of the organisation to develop the company even further in the long term and to commit themselves to common goals,” says Einari Vidgrén, the Chairman of the Board of Ponsse Plc. The Plan includes three earning periods, calendar years 2010—2012, 2011—2013 and 2012—2014. The Board of Directors will decide on the earnings criteria and on targets to be established for them for each earning period. The earnings criteria of the earning period 2010—2012 are the Ponsse Group´s cumulative cash flow, operating profit margin on average and total return on Ponsse Plc share. The potential reward from the earning period 2010—2012 will be paid partly as the Company's shares and partly in cash. The proportion to be paid in cash is intended to cover taxes and tax-related costs arising from the reward to the key personnel. The shares cannot be transferred during a two-year restriction period. If a key person's employment or service ends during the restriction period, he or she must gratuitously return the shares given as reward to the Company. The president and CEO must hold 50% of the shares paid on the basis of the Plan, after the restriction period, as long as the value of the Company shares held by him, in total corresponds to his annual gross salary, and any other member of the Group Management Team, as long as the value of the Company's shares held by him or her, in total corresponds to half of his or her annual gross salary. During the earning period 2010—2012, approximately 20 people belong to the target group of the Plan. The rewards to be paid on the basis of the earning period 2010—2012 will correspond to the value of a maximum total of 211,000 Ponsse Plc shares (including also the proportion to be paid in cash). Vieremä 29 April 2010 PONSSE PLC Einari Vidgrén Chairman of the Board FURTHER INFORMATION Juho Nummela, President and CEO, tel. +358 400 495 690 DISTRIBUTION NASDAQ OMX Helsinki Ltd Main media www.ponsse.com Ponsse Plc specialises in the sales, production, maintenance and technology of cut-to-length forest machines. Its operations are guided by a genuine interest in its customers and their business operations. The company develops and manufactures innovative harvesting solutions that follow the principles of sustainable development and are based on customer needs. The company was established by forest machine entrepreneur Einari Vidgrén in 1970, and it has been a pioneer of timber harvesting solutions based on the cut-to-length method ever since. Ponsse is headquartered in Vieremä, Finland. The Company's shares are quoted on the NASDAQ OMX Nordic List. The Group operates in approximately 40 countries. |
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