Assignment of Vacon's own shares for the 2012 earning period under the Share Ownership Plan 2011 - 2013
(Thomson Reuters ONE) -
Vacon Plc, Stock Exchange Release, 5 March 2013 at 3.15 pm (EET)
Vacon's Board of Directors has confirmed that the bonus for 2012 within the
framework of the Share Ownership Plan is 56.3% of the maximum amount. The Board
decided to assign the total of 32,728 shares in Vacon Plc held by the Company
without consideration to the bonus recipients as the share portion of the total
bonus. The bonus for the 2012 earning period is based on the Vacon Group's
revenues, operating profit and rate of working capital turnover, and it will be
paid in 2013, partly in company shares and partly in cash. The bonus recipients
include 65 persons in corporate management and other personnel. The handover
date for the shares is 27 March 2013. After handing over these shares, the
Company holds 51,415 own shares.
The Share Ownership Plan includes three earning periods, calendar years
2011, 2012 and 2013. The Board of Directors of the Company will decide on the
target group, the Plan's earnings criteria and on targets to be established for
them at the beginning of each earning period. The shares paid on the basis of
earning periods 2011, 2012 and 2013 may not be transferred during the
restriction period, which will end after two years from the expiry of each
earning period. Should an employment or a service of a person within the target
group end during the restriction period, he or she must, without consideration,
return to the Company the shares given as reward. The members of the Executive
Management Team must hold a half of the shares received on the basis of the
incentive plan as long as the value of his or her shareholding in total
corresponds to the value of his or her gross annual salary. Such number of
shares must be held as long as his or her employment or service in a Group
company continues.
VACON PLC
Further information:
* Vesa Laisi, President and CEO, phone +358 (0)40 8371 510,
vesa.laisi(at)vacon.com
* Sebastian Linko, Director, Corporate Communications and Investor Relations,
+358 (0)40 8371 634, sebastian.linko(at)vacon.com
Vacon in brief
Vacon is driven by a passion to develop, manufacture and sell the best AC drives
and inverters in the world - and provide customers with efficient product
lifecycle services. Our AC drives offer optimum process control and energy
efficiency for electric motors. Vacon inverters play a key role when energy is
produced from renewable sources. Vacon has production and R&D facilities in
Europe, Asia and North America, and sales offices in 29 countries. Further,
Vacon has sales representatives and service partners in nearly 90 countries. In
2012, Vacon's revenues amounted to EUR 388.4 million, and the company employed
globally approximately 1,500 people. The shares of Vacon Plc (VAC1V) are quoted
on the main list of the Helsinki stock exchange (NASDAQ OMX Helsinki).
Driven by Drives, www.vacon.com
Distribution:
NASDAQ OMX Helsinki
Financial Supervisory Authority
Main media
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: Vacon Oyj via Thomson Reuters ONE
[HUG#1683090]
Unternehmensinformation / Kurzprofil:
Datum: 05.03.2013 - 14:15 Uhr
Sprache: Deutsch
News-ID 236129
Anzahl Zeichen: 3878
contact information:
Town:
Vaasa
Kategorie:
Business News
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"Assignment of Vacon's own shares for the 2012 earning period under the Share Ownership Plan 2011 - 2013"
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