Indutrade offers incentive program to senior executives
The Board of Directors of Indutrade has approved an incentive program aimed at senior Indutrade executives in accordance with the statement contained in the listing prospectus. The aim of the program is to promote the management’s long-term participation in and commitment to the company.
The incentive program comprises an offering from AB Industrivärden (publ) to about 50 persons to acquire a total of not more than 351,000 shares and 353,000 call options in Indutrade issued by Industrivärden on market terms. Each call option carries entitlement to purchase one share in Indutrade during the period May 1, 2010 – June 30, 2010 at an exercise price to be established at about 140% of the average market price for the Indutrade share during the period November 9-November 15, 2005. In the event of full subscription of the offering and full exercise of the call options, the shares and call options offered correspond to approximately 1.7% of the shares and votes in Indutrade. The President will receive an offering to acquire not more than 25,000 shares and 100,000 call options. Other employee categories will receive an offering to acquire between 5,000 and 20,000 shares and not more than 36,000 call options each. Indutrade will subsidize the offering by, in total, paying a subsidy over a four-year period, which, before tax, will correspond to 40% of the participants’ investment. The subsidy requires continued employment and that all shares and options acquired through the offering are retained. The overall cost for the subsidy is expected to exceed approximately SEK 3 M per year over a four-year period. Stockholm, October 31, 2005 INDUTRADE AB (publ)