Teleste - Company Announcement

TELESTE LAUNCHES A NEW SHARE-BASED INCENTIVE PLAN

Turku, Finland, 2016-02-04 08:30 CET (GLOBE NEWSWIRE) -- 

TELESTE CORPORATION  STOCK EXCHANGE RELEASE  4.2.2016 AT 09:30



TELESTE LAUNCHES A NEW SHARE-BASED INCENTIVE PLAN

The Board of Directors of Teleste Corporation in February 2015 approved the
establishment of a new long-term share-based incentive program to be offered to
key employees of Teleste (below LTI 2015). The company announced the
establishment of the program on February 5, 2015. 

Information about the new three-year plan

If all the eligible key employees participate in the plan by fulfilling the
investment precondition, the maximum aggregate amount of matching shares that
may be delivered based on the matching share plan commencing in 2016 is 53,600
shares (gross before the deduction of the applicable taxes and the remaining
net amount is delivered to the participants as Teleste´s shares) and the
maximum number of shares that may be delivered based on the performance
matching plan is 214,400 shares (gross before the deduction of the applicable
taxes). 

The performance measure applied in the plan commencing in 2016 is the total
shareholder return (TSR) of Teleste share in the three-year performance period.
A precondition for an individual key employees participation in the plan is the
above mentioned investment in Teleste shares. 

Other information

The Board of Directors has approved 42 key employees as eligible for
participating in the second three-year plan of LTI 2015. 

The Board of Directors anticipates that no new shares will be issued in
connection with the new share-based incentive plan and, therefore, the plan
will have no dilutive effect on the number of the company’s registered shares. 



Teleste is an international technology company that develops and offers video
and broadband technologies and related services. Our supply of technology
contributes to the convenience and safety of daily living. Our core business is
video - video and data processing, transfer and management. Our customer base
consists of cable and telecom operators, as well as public sector
organizations. Our business is divided into two divisions, which are Video and
Broadband Solutions and Network Services. In both areas, we rank among the
world's leading companies and technological forerunners. Video and Broadband
Solutions focuses on access networks and video security and information
solutions. Network Services offers comprehensive services for access network
design, construction and maintenance. In 2015, Teleste's net sales totaled EUR
248 million, and the company employed about 1,500 people. Teleste runs a
worldwide network of offices and more than 95% of its sales are generated
outside Finland. The company is listed on the Nasdaq Helsinki. For more
information see www.teleste.com 



TELESTE CORPORATION



Marjo Miettinen
Chairman of the Board of Directors

Jukka Rinnevaara
President and CEO



ADDITIONAL INFORMATION:
Marjo Miettinen, phone +358 400 512771
Jukka Rinnevaara, phone +358 2 2605 611 or +358 400 747 488



DISTRIBUTION:
Nasdaq Helsinki
Main Media
www.teleste.com