Assignment of Vacon's own shares - share bonus scheme 2008-2010
(Thomson Reuters ONE) -
Vacon Plc, Stock Exchange Release 24 March 2010, at 10.30 a.m.:
Vacon's Board of Directors has confirmed that the bonus in the share bonus
scheme for 2009 is 10% of the maximum amount. The Board decided to assign 4,502
of the company shares held by the company without consideration to the
recipients of the bonus as the share portion of the total bonus. In accordance
with the terms of the share bonus scheme, 55% of the total bonus is paid in cash
and 45% as shares. For the 2009 earnings period, the recipients of the bonus are
42 persons in corporate management and other positions. The handover date for
the shares is 22 April 2010.
Vacon's Board of Directors decided in January 2008 to introduce a share bonus
scheme as part of the Group's program to provide motivation and commitment for
key personnel. The scheme was divided into three separate one-year earnings
periods, which were the calendar years 2008, 2009 and 2010. The shares earned as
a bonus must be held for two calendar years after the end of the earnings
period. Those in the share bonus scheme have the opportunity for each of the
three years to earn a bonus of shares based on the financial success of the
company. The metrics chosen were revenues, operating profit (EBIT) and turnover
of working capital.
After handing over these shares, the company holds 80,509 of its own shares.
Vacon in brief
Vacon's operations are driven by a passion to develop, manufacture and sell the
best AC drives in the world - and nothing else. AC drives are used to control
electric motors and in renewable energy generation. Vacon has R&D and production
units in Finland, the USA, China and Italy, and sales offices in 27 countries.
In 2009 Vacon had revenues of EUR 272 million and globally employed 1,200
people. The shares of Vacon Plc (VAC1V) are quoted on the main list of the
Helsinki stock exchange.
Driven by Drives, www.vacon.com
Vacon Plc
For more information, please contact:
* Vesa Laisi, President and CEO, Vacon Plc, tel. +358 (0)40-8371 510
* Eriikka Söderström, Vice President, Finance and Control, Vacon Plc, tel.
+358 (0)40-8371 445
Distribution:
Financial Supervision Authority
OMX Nordic Exchange
Media
[HUG#1397006]
Unternehmensinformation / Kurzprofil:
Datum: 24.03.2010 - 09:31 Uhr
Sprache: Deutsch
News-ID 17965
Anzahl Zeichen: 0
contact information:
Town:
Vaasa
Kategorie:
Business News
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"Assignment of Vacon's own shares - share bonus scheme 2008-2010"
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