THE BOARD OF DIRECTORS OF ASPO PLC RESOLVED ON KEY PERSONNEL INCENTIVE PLAN
(Thomson Reuters ONE) -
ASPO Plc STOCK EXCHANGE RELEASE February 14, 2012 at 14:00
The Board of Directors of Aspo Plc ("the Company") has resolved on a new share-
based incentive plan for the Group key personnel. The aim 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 plan based on long-term shareholding in
the Company.
The new plan includes three performance periods, calendar years 2012, 2013 and
2014. The prerequisite for participation in the plan and for receipt of reward
on the basis of performance period 2012 is that a key person acquires the
Company's shares, or holds the Company's shares or Aspo Management Oy's shares,
up to the number predetermined by the Board of Directors.
The Board of Directors of the Company will decide on the plan's performance
criteria and on targets to be established for the performance criteria at the
beginning of each performance period. The potential reward from the plan for the
performance period 2012 will be based on the Aspo Group's key figure Earnings
per Share (EPS), and it will be paid partly in the Company's shares and partly
in cash in 2013. The aim is that the proportion to be paid in cash will cover
taxes and tax-related costs arising from the reward to a key person. No reward
will be paid if a key person's employment or service ends before the reward
payment.
The shares paid on the basis of the performance period may not be transferred
during the restriction period, which will end two years from the end of the
performance period. If a key person's employment or service ends during the
restriction period, he or she must gratuitously return the shares given as
reward to the Company.
The target group of the plan consists of approximately 30 people. The rewards to
be paid on the basis of the plan correspond to an approximate maximum total of
936,000 Aspo Plc shares (including also the proportion to be paid in cash).
ASPO Plc
Aki Ojanen
CEO
For further information, please contact:
Aki Ojanen, CEO Aspo Plc, +358 9 521 4010, +358 400 106 592,aki.ojanen(at)aspo.com
www.aspo.com
Aspo is a conglomerate that owns and develops business operations in the Baltic
Sea region focusing on demanding B-to-B customers. Our strong company brands -
ESL Shipping, Leipurin, Telko and Kaukomarkkinat - aim to be the market leaders
in their sectors. They are responsible for their own operations, customer
relationships and the development of these. Together they generate Aspo's
goodwill. Aspo's Group structure and business operations are continually
developed without any predefined schedules.
DISTRIBUTION:
NASDAQ OMX Helsinki
Key media
www.aspo.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Aspo Oyj via Thomson Reuters ONE
[HUG#1585178]
Unternehmensinformation / Kurzprofil:
Datum: 14.02.2012 - 13:00 Uhr
Sprache: Deutsch
News-ID 114461
Anzahl Zeichen: 3685
contact information:
Town:
Helsinki
Kategorie:
Business News
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"THE BOARD OF DIRECTORS OF ASPO PLC RESOLVED ON KEY PERSONNEL INCENTIVE PLAN"
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