English

LÄNNEN TEHTAAT PLC'S BOARD DECIDES ON INCENTIVE PLAN FOR KEY PERSONNEL

Report this content 
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

Subscribe