The Board of Directors of Oriola-KD Corporation has resolved on a key personnel share savings plan
(Thomson Reuters ONE) -
Oriola-KD Corporation Stock Exchange Release 28 May 2013 at 3.30 p.m.
Oriola-KD Corporation announced on 19 December 2012 that the Company is
designing the launch of a Key Personnel Share Savings Plan (the Plan) to be
offered to approximately 70 Oriola-KD Group key employees.
The Board of Directors has on 28 May 2013 approved the terms and conditions of
the Plan. The objective is to further align the interests of Key Personnel with
that of Oriola-KD shareholders.
The Plan is offered to approximately 70 Group key employees. The Savings Period
will begin on 1 October 2013 and end on 30 September 2014. The maximum monthly
saving is 10 percent and the minimum is 2 percent of each participant's fixed
monthly gross salary. The accumulated savings are used for purchasing Oriola-KD
class B shares for the participants at the market price quarterly.
In return, each participant will receive two free class B matching shares for
every three acquired savings shares. Matching shares will be delivered to a
participant if the participant holds the acquired shares from the Savings Period
until the end of the designated holding period and if his or her employment with
a company has not been terminated on the last day of the holding period on bad
leaver terms. The holding period will end on the publication date of the Oriola-
KD Q3/2015 interim report. Matching shares will be paid partly in the Company's
class B shares and partly in cash. The cash proportion is intended for covering
taxes and tax-related payments arising from the reward to a key person.
A key person will participate in the Plan for one year at a time. Shares will be
acquired with the accrued savings at the market price quarterly, after the
publication date of the relevant interim report. Any dividends paid on purchased
shares during the commencing Savings Period will automatically be reinvested
into additional class B shares on the following purchase date. These shares will
have an equal right to matching shares.
The aggregated estimated value of the matching shares in the Savings Period
2013-2014 is 500,000 euros including taxes and social costs assuming all
eligible employees will participate and will save the maximum percentage. The
number of new shares to be issued or treasury shares held by the Company to be
transferred as matching shares is approximately 200,000 class B shares, which
corresponds to 0.13 percent of all of the Company's shares.
Oriola-KD Corporation
Eero Hautaniemi
President and CEO
Petter Sandström
General Counsel
Further information:
Eero Hautaniemi
President and CEO
tel. +358 (0)10 429 2109
e-mail: eero.hautaniemi(at)oriola-kd.com
Distribution
NASDAQ OMX Helsinki Ltd.
Key media
Released by:
Oriola-KD Corporation
Corporate Communications
Orionintie 5
FI-02200 Espoo, Finland
www.oriola-kd.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: Oriola-KD Oyj via Thomson Reuters ONE
[HUG#1705167]
Unternehmensinformation / Kurzprofil:
Datum: 28.05.2013 - 14:30 Uhr
Sprache: Deutsch
News-ID 263913
Anzahl Zeichen: 3867
contact information:
Town:
Espoo
Kategorie:
Business News
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