Outotec continues Employee Share Savings Plan in 2018
(Thomson Reuters ONE) -
OUTOTEC OYJ STOCK EXCHANGE RELEASE September 27, 2017 at 3.00 PM
Outotec continues Employee Share Savings Plan in 2018
Outotec's Board of Directors has decided to continue Outotec's Employee Share
Savings Plan (announced on September 25, 2012) for the calendar year 2018. The
Plan commenced on January 1, 2013 and has continued for five saving periods.
"I am very pleased that the Employee Share Savings Plan will continue for the
sixth year at Outotec. I believe that this reward system motivates our people to
work towards common goals and vision and benefits all our shareholders", says
Outotec CEO Markku Teräsvasara.
Outotec employees have a possibility to save a proportion of their salary for
purchasing Outotec shares. To encourage participation, Outotec offers each
employee participating in the Plan one free share for each two acquired shares
after a designated holding period of approximately three years. Free shares are
taxable income for the recipient and will be paid partly in Outotec's shares and
partly in cash. The cash proportion is intended for covering taxes and tax-
related payments.
The Employee Share Savings Plan is offered for Outotec employees globally in
countries where there are no local legal, taxation or administrative restraints.
The maximum monthly saving is five per cent and the minimum is two per cent of
each participant's gross base salary during one month. The total amount of all
savings in 2018 may not exceed EUR 4 million.
Shares will be acquired with the accumulated savings at the market price
quarterly, after the publication of Outotec's interim results, commencing from
April 2018. Participation in the Plan is voluntary to employees.
Espoo, September 27, 2017
OUTOTEC OYJ
The Board of Directors
For further information please contact:
Kaisa Aalto-Luoto, Senior Vice President, Human Resources & Communications
Tel. +358 20 529 211
Email firstname.lastname(at)outotec.com
DISTRIBUTION:
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www.outotec.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Outotec Oyj via GlobeNewswire
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