LÄNNEN TEHTAAT PLC'S BOARD DECIDES ON INCENTIVE PLAN FOR KEY PERSONNEL
LÄNNEN TEHTAAT PLC STOCK EXCHANGE RELEASE 2 April 2008 6;00 p.m.
LÄNNEN TEHTAAT PLC'S BOARD DECIDES ON INCENTIVE PLAN FOR KEY PERSONNEL
On 2 April 2008, Lännen Tehtaat plc's Board of Directors took the decision to
introduce a share reward scheme as part of the Group's long-term commitment plan
for key personnel. Under the scheme, key personnel will have the opportunity to
receive Lännen Tehtaat plc shares as a reward for achieving defined targets for
the earning period.
The earning period for the scheme is 1 January 2008 to 31 December 2008. Any
reward paid on this 2008 earning period will be paid during 2009 partly in
Lännen Tehtaat plc shares and partly in cash. The aim is that the amount paid in
cash would cover the taxes and tax-related costs incurred on the reward.
Transfer of all or any of the shares within the restriction period of two years
after the end of the earning period is prohibited. If a key personnel member
terminates his or her employment contract or contract of engagement during the
restriction period, any shares given under the share reward scheme shall be
returned to the company without compensation.
The amount of any reward available under the scheme for the 2008 earning period
will be based on the Group's earnings per share for its continuing operations.
The share reward scheme will cover 13 key personnel during the 2008 earning
period.
A maximum of 17,000 Lännen Tehtaat plc shares and, additionally, a maximum cash
payment equal to the total value of these shares will be paid on the 2008
earning period.
LÄNNEN TEHTAAT PLC
Board of Directors
More information: Matti Karppinen, CEO, tel. +358 10 402 4001
DISTRIBUTION:
OMX Nordic Exchange Helsinki
Principal media
www.lannen.fi