Teleste - Company Announcement

TELESTE’S DISPOSAL OF OWN SHARES BASED ON THE PERFORMANCE SHARE PROGRAM

Turku, Finland, 2015-02-27 08:30 CET (GLOBE NEWSWIRE) -- TELESTE CORPORATION
STOCK EXCHANGE RELEASE  27.2.2015 AT 09:30 



TELESTE'S DISPOSAL OF OWN SHARES BASED ON THE PERFORMANCE SHARE PROGRAM

The Board of Directors of Teleste Corporation has on 4 February 2015 decided on
a directed share issue for the reward payment from Teleste Performance Share
Plan 2012. 

In the share issue 73,644 existing Teleste shares will be issued and conveyed
without consideration to the key persons participating in the Performance Share
Plan 2012 according to the terms and conditions of the plan. 

The Board of Directors of Teleste decided of the Performance Share Plan 2012 in
December 2011. The purpose 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 program for exceptional performance based on holding the
company shares. 

A total of 27 people are in the target group of the payment from the plan. The
decision on the directed share issue is based on the authorization granted to
the Board of Directors by the General Meeting of Shareholders held on 1 April
2014. The shares will be transferred to the plan participants on 27 February
2015. The number of treasury shares after the directed share issue is 517.086
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 network design,
construction and maintenance. In 2014, Teleste's net sales totaled EUR 197
million, and the company employed more than 1,400 people. Teleste runs a
worldwide network of offices and more than 90% of its sales are generated
outside Finland. The company is listed on the Nasdaq Helsinki. For more
information see www.teleste.com 



TELESTE CORPORATION

Jukka Rinnevaara
President and CEO



ADDITIONAL INFORMATION:
CEO Jukka Rinnevaara, phone +358 2 2605 866 or +358 400 747 488

DISTRIBUTION:
Nasdaq Helsinki
Main Media
www.teleste.com