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2007-07-18 08:00:14 CEST 2007-07-18 08:00:14 CEST REGULATED INFORMATION Kesko Oyj - Company AnnouncementKesko Corporation's Board of Directors decided to grant stock optionsKESKO CORPORATION STOCK EXCHANGE RELEASE 18.07.2007 Kesko Corporation's Board of Directors decided to grant stock options Kesko Corporation's Board of Directors has decided to grant the year 2007 stock options, decided by the Annual General Meeting of 26 March 2007, to persons in the Kesko Group management, other key Kesko personnel, and to Sincera Oy, a subsidiary wholly owned by Kesko Corporation. Kesko Corporation's Annual General Meeting held on 26 March 2007 decided to grant a total of 3,000,000 stock options for no consideration to persons in the Kesko Group management, other key Kesko personnel, and to Sincera Oy, a subsidiary wholly owned by Kesko Corporation. The stock options are part of Kesko's share-based incentive plan. Each stock option entitles its holder to subscribe for one new Kesko Corporation B share. Of the stock options 1,000,000 shall be marked with the symbol 2007A, 1,000,000 with the symbol 2007B and 1,000,000 with the symbol 2007C. Now 2007A options were granted to approximately one hundred persons in the Kesko Group management and other key personnel. The remaining options were granted to Sincera Oy to be granted later on to option recipients employed by Kesko or to be hired by Kesko. The year 2007 stock options entitle to subscribe for a maximum number of 3,000,000 new Kesko Corporation B shares in aggregate. The share subscription price for stock option 2007A shall be the trade volume weighted average quotation of a Kesko Corporation B share on the Helsinki Stock Exchange between 1 April and 30 April 2007, for stock option 2007B, between 1 April and 30 April 2008, and for stock option 2007C, between 1 April and 30 April 2009. The subscription prices of shares subscribed for with stock options shall be reduced by the amount decided after the beginning of the period for the determination of the subscription price but before the subscription as at the record date for each distribution of funds referred to in the terms and conditions. The share subscription price shall be recognised in the company's reserve of invested non-restricted equity. The exercise period for 2007A options will be from 1 April 2010 to 30 April 2012, for 2007B options from 1 April 2011 to 30 April 2013, and for 2007C options from 1 April 2012 to 30 April 2014. The stock options include an obligation to share ownership. Option recipients are obliged to buy company shares for permanent ownership for the value of 25% of the proceeds from the sale of stock options. The matter was last announced in a stock exchange release concerning the decisions of the Annual General Meeting on 26 March 2007. Further information is available from Riitta Laitasalo, Senior Vice President, Human Resources, tel. +358 1053 22060. Kesko Corporation Paavo Moilanen Senior Vice President, Corporate Communications DISTRIBUTION Helsinki Stock Exchange Main news media |
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