The Board of Directors of Suominen Corporation has approved a binding share bonus plan for the Group key personnel. The Plan supplements the key personnel annual bonus scheme. The aim of the Plan is to combine the objectives of the shareholders and the key personnel in order to increase the value of the Company and to commit the key personnel to the Company.
The reward from the Plan for the year 2010 will be based on the Group’s Net assets and EBITDA, and it will be paid partly as the Company’s shares and partly in cash in 2011. The shares cannot be transferred during a one-year restriction period. If a key person’s employment or service ends during the restriction period, he/she must return the shares given as reward to the Company without compensation.
The Plan is directed to 16 key employees, including the members of the Corporate Executive Team. A maximum of 126,000 Suominen Corporation shares will be assigned on the basis of the Plan. The value of the shares and the amount of the proportion to be paid in cash will be determined on the basis of the share price of the date on which the shares are registered on the book-entry accounts of the key employees.
Tampere, 11 February 2010
President and CEO
For additional information please contact:
Mr. Petri Rolig, President and CEO, tel. +358 (0)10 214 300