Conveyance of Vacon Plc own shares under Vacon Plc's share bonus scheme
(Thomson Reuters ONE) -
Vacon, Stock Exchange Release, March 23, 2011 at 10.05 am
Vacon's Board of Directors has confirmed that the 2010 bonus in the share bonus
scheme is 95.5 % of the maximum. The Board has decided to convey without
consideration 45,557 Vacon shares held by the company to the recipients of the
bonus as the share portion of the total bonus. Under the share bonus scheme, 55
% of the total bonus is paid in cash and 45 % in shares. There are 44 people
belonging to company management and personnel who will receive the bonus for the
2010 earning period. The shares will be conveyed on 20 April 2011.
Vacon's Board of Directors decided in January 2008 to introduce a share bonus
scheme as part of the Group's commitment and incentive programme for personnel.
The scheme is divided into three separate one year earning periods, which were
the calendar years 2008, 2009 and 2010. Any shares earned as a bonus must be
held for two calendar years after the end of the earning period. Those belonging
to the bonus scheme have the opportunity, in each of the three years, to earn a
bonus of shares based on the company's financial success. The criteria were
revenues, operating profit (EBIT) and working capital turnover.
After conveying these shares the Company held 35,008 of its own shares.
Vacon Plc
Further information:
* President and CEO, Vesa Laisi, Phone +358 (0)40 837 1510
Press contact:
* Director, Corporate Communications, Sebastian Linko, Phone +358 40 837 1634
Vacon in brief:
Vacon is driven by a passion to design, manufacture and sell only the best AC
drives on the planet - and nothing else. AC drives can be used to control
electric motors or to help generate power from renewable sources. Vacon has R&D
and production units in Finland, the United States, China and Italy, and sales
offices in 27 countries. In 2010, Vacon had revenues of EUR 338 million and
globally employed 1,300 people. Vacon's shares (VAC1V) are listed and publicly
traded on the Helsinki Stock Exchange.
Driven by Drives, www.vacon.com
DISTRIBUTION:
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Financial Supervisory Authority
Main Media
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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#1499281]
Unternehmensinformation / Kurzprofil:
Datum: 23.03.2011 - 09:05 Uhr
Sprache: Deutsch
News-ID 52702
Anzahl Zeichen: 2969
contact information:
Town:
Vaasa
Kategorie:
Business News
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