English

THE BOARD OF DIRECTORS OF SYSOPEN DIGIA PLC APPROVED DISTRIBUTION OF STOCK

Report this content 
SYSOPEN DIGIA PLC      STOCK EXCHANGE RELEASE      05 August 2005, 02:15 pm.


THE BOARD OF DIRECTORS OF SYSOPEN DIGIA PLC APPROVED DISTRIBUTION OF STOCK
OPTIONS

The Board of Directors of SysOpen Digia Plc has approved the distribution of the
stock options 2005, issued by the General Meeting of Shareholders on 1 June 2005,
to the SysOpen Digia Group key personnel and to the wholly-owned subsidiary of
SysOpen Digia Plc. The purpose of the stock options is to encourage the key
personnel to work on a long-term basis to increase the owner value and to commit
them to the employer. In addition, the incentive plan aims to combine the targets
of the owners and the key personnel and to make the key personnel long-term
shareholders in the company.

Those stock options that were not distributed to the SysOpen Digia Group key
personnel were granted to Sysopen Partners Oy, to be further distributed to the
present and future key personnel of the SysOpen Digia Group.

STOCK OPTIONS, WHICH REPLACE THE DIGIA INC. (AT PRESENT: SYSOPEN DIGIA SMARTPHONE
LTD) STOCK OPTIONS

The Digia Inc. 2001 stock option owners were offered a possibility to convert
their stock options to the stock options 2005K at the conversion rate 1:0.36, in
accordance with the Digia Inc. 2001 stock option terms. If the number of new
stock options was a fraction, the number of new stock options was rounded off to
a nearest higher full figure.

A total of 105,408 stock options 2005K1 and a total of 350,619 stock options
2005K2 were converted.

A total of 1,266,740 Digia Inc. stock options 2001 were returned to the company
in the conversion. In accordance with the terms and conditions of the 2001 stock
options, the stock options expired within one month from the offering date of the
stock options 2005K, i.e. on 1 July 2005.

In addition to converted stock options the Board of Directors decided to
distribute to the SysOpen Digia Group key personnel a total of 205,617 stock
options 2005K2. A total of 1,405 stock options 2005K2 were granted to Sysopen
Partners Oy.

STOCK OPTIONS 2005A-C, WHICH COMMIT THE KEY PERSONNEL TO LONG-TERM SHAREHOLDING
IN SYSOPEN DIGIA

A total of 240,000 stock options 2005A, which commit the key personnel to long-
term shareholding in SysOpen Digia, were distributed to the SysOpen Digia Group
key personnel. In accordance with the decision by the Board of Directors, the
prerequisite for receiving stock options 2005A was that the key personnel acquire
or own a certain number of SysOpen Digia Plc shares, determined by the Board of
Directors in advance.

A total of 60,000 stock options 2005A and all stock options 2005B and 2005C were
granted to Sysopen Partners Oy.

In accordance with the decision by the Board of Directors, the SysOpen Digia
Group key personnel is obliged to acquire the company's shares with 20% of the
gross income gained from the realized stock options 2005A and to own these shares
until their value is worth at least the person's annual gross salary, as long as
his/her employment or service continues.

The terms and conditions of the stock options 2005K and 2005A-C have been
published as a stock exchange release on 1 June 2005.

SYSOPEN DIGIA PLC

Jari Mielonen
CEO

FURTHER INFORMATION:
Mr Tomi Merenheimo, Vice President, Legal and Communications, tel. No. +358 40
560 6101, e-mail: tomi.merenheimo@sysopen.fi

DISTRIBUTION:
Helsinki Stock Exchange
Main Media

Subscribe