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2013-05-28 14:30:00 CEST 2013-05-28 14:30:24 CEST REGULATED INFORMATION Oriola-KD Oyj - Company AnnouncementThe Board of Directors of Oriola-KD Corporation has resolved on a key personnel share savings planOriola-KD Corporation Stock Exchange Release 28 May 2013 at 3.30 p.m. Oriola-KD Corporation announced on 19 December 2012 that the Company is designing the launch of a Key Personnel Share Savings Plan (the Plan) to be offered to approximately 70 Oriola-KD Group key employees. The Board of Directors has on 28 May 2013 approved the terms and conditions of the Plan. The objective is to further align the interests of Key Personnel with that of Oriola-KD shareholders. The Plan is offered to approximately 70 Group key employees. The Savings Period will begin on 1 October 2013 and end on 30 September 2014. The maximum monthly saving is 10 percent and the minimum is 2 percent of each participant's fixed monthly gross salary. The accumulated savings are used for purchasing Oriola-KD class B shares for the participants at the market price quarterly. In return, each participant will receive two free class B matching shares for every three acquired savings shares. Matching shares will be delivered to a participant if the participant holds the acquired shares from the Savings Period until the end of the designated holding period and if his or her employment with a company has not been terminated on the last day of the holding period on bad leaver terms. The holding period will end on the publication date of the Oriola- KD Q3/2015 interim report. Matching shares will be paid partly in the Company's class B shares and partly in cash. The cash proportion is intended for covering taxes and tax-related payments arising from the reward to a key person. A key person will participate in the Plan for one year at a time. Shares will be acquired with the accrued savings at the market price quarterly, after the publication date of the relevant interim report. Any dividends paid on purchased shares during the commencing Savings Period will automatically be reinvested into additional class B shares on the following purchase date. These shares will have an equal right to matching shares. The aggregated estimated value of the matching shares in the Savings Period 2013-2014 is 500,000 euros including taxes and social costs assuming all eligible employees will participate and will save the maximum percentage. The number of new shares to be issued or treasury shares held by the Company to be transferred as matching shares is approximately 200,000 class B shares, which corresponds to 0.13 percent of all of the Company's shares. Oriola-KD Corporation Eero Hautaniemi President and CEO Petter Sandström General Counsel Further information: Eero Hautaniemi President and CEO tel. +358 (0)10 429 2109 e-mail: eero.hautaniemi@oriola-kd.com Distribution NASDAQ OMX Helsinki Ltd. Key media Released by: Oriola-KD Corporation Corporate Communications Orionintie 5 FI-02200 Espoo, Finland www.oriola-kd.com [HUG#1705167] |
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