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2008-04-02 17:00:00 CEST 2008-04-02 17:00:02 CEST REGULATED INFORMATION Lännen Tehtaat - Company AnnouncementLÄNNEN TEHTAAT PLC'S BOARD DECIDES ON INCENTIVE PLAN FOR KEY PERSONNELLÄNNEN TEHTAAT PLC STOCK EXCHANGE RELEASE 2 April 2008 6;00 p.m. LÄNNEN TEHTAAT PLC'S BOARD DECIDES ON INCENTIVE PLAN FOR KEY PERSONNEL On 2 April 2008, Lännen Tehtaat plc's Board of Directors took the decision to introduce a share reward scheme as part of the Group's long-term commitment plan for key personnel. Under the scheme, key personnel will have the opportunity to receive Lännen Tehtaat plc shares as a reward for achieving defined targets for the earning period. The earning period for the scheme is 1 January 2008 to 31 December 2008. Any reward paid on this 2008 earning period will be paid during 2009 partly in Lännen Tehtaat plc shares and partly in cash. The aim is that the amount paid in cash would cover the taxes and tax-related costs incurred on the reward. Transfer of all or any of the shares within the restriction period of two years after the end of the earning period is prohibited. If a key personnel member terminates his or her employment contract or contract of engagement during the restriction period, any shares given under the share reward scheme shall be returned to the company without compensation. The amount of any reward available under the scheme for the 2008 earning period will be based on the Group's earnings per share for its continuing operations. The share reward scheme will cover 13 key personnel during the 2008 earning period. A maximum of 17,000 Lännen Tehtaat plc shares and, additionally, a maximum cash payment equal to the total value of these shares will be paid on the 2008 earning period. LÄNNEN TEHTAAT PLC Board of Directors More information: Matti Karppinen, CEO, tel. +358 10 402 4001 DISTRIBUTION: OMX Nordic Exchange Helsinki Principal media www.lannen.fi |
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