CONVEYANCE OF YIT CORPORATION'S OWN SHARES UNDER YIT'S SHARE OWNERSHIP PLAN
STOCK EXCHANGE RELEASE APR 29, 2011 AT 8:01 A.M.
CONVEYANCE OF YIT CORPORATION’S OWN SHARES UNDER YIT’S SHARE OWNERSHIP PLAN
The Board of Directors of YIT Corporation has on April 28, 2011 decided on a directed share issue for the reward payment from the 2010 earning period under the Share Ownership Plan 2010-2016.
In the share issue, 196,910 YIT Corporation shares will be issued and conveyed without consideration to the key persons participating in the Share Ownership Plan according to the terms and conditions of the plan.
YIT Corporation's Board of Directors decided on March 10, 2010, to implement a share-based incentive scheme to support the company's strategy of profitable growth and supplement the existing incentive schemes. Rewards will be paid to 243 people belonging to the company's management and personnel for the 2010 earning period. The terms of the Share Ownership Plan were disclosed in more detail in a stock exchange release published on March 10, 2010.
The decision on the directed share issue is based on the authorization granted to the Board of Directors by the Annual General Meeting of Shareholders held on March 10, 2010.
After the directed share issue, the company holds 1,948,090 own shares.
For additional information, please contact:
Antero Saarilahti, Senior Vice President, Administration, YIT Corporation, tel. +358 20 433 2280
Vice President, Investor Relations
Distribution: NASDAQ OMX, principal media, www.yitgroup.com
YIT is a successful European service company in building systems, construction services and services for industry. We build, develop and maintain quality living environments in Nordic countries, Central Europe, Russia and Baltic countries. In 2010, YIT's revenue amounted to EUR 3.8 billion. The Group employs nearly 26,000 people. YIT's share is listed on NASDAQ OMX Helsinki. www.yitgroup.com