Great participation in Eltel's incentive program LTIP 2015
At Eltel's General Meeting in May 2015, it was decided to implement a long-term incentive program "LTIP 2015" for key employees in the Eltel Group. The subscription period for the program took place in August 2015. Interest in participating was high and 97 percent chose to participate. After completing the subscription period for the share savings program, the number of Saving Shares amounted to 91,953. The shares were purchased in a structured manner on the stock market in September 2015 to a value of about SEK 8.7 million.
The purpose of the LTIP 2015, as approved by the AGM of Eltel on May 19, 2015, is to increase the attractiveness of the group as an employer on the global market, making it easier to retain and recruit qualified key individuals.
LTIP 2015 is directed towards 70 key individuals in the Eltel Group. Participation in LTIP 2015 assumes that the participant acquires and locks Eltel ordinary shares into LTIP 2015 (“Savings Shares”).
The LTIP 2015 may also qualify for allotment of Eltel “Matching Shares” and additional Eltel “Performance Shares”.
For more information visit: http://www.eltelgroup.com/en/remuneration-and-incentive-programs/
For more information, please contact
Gunilla Wikman, Investor Relations Manager at Eltel AB
Tel: +46 725 843 630, gunilla.wikman@eltelnetworks.se
Hannu Tynkkynen, Senior Vice President, Group Communications at Eltel AB
Tel: +358 40 311 4503, hannu.tynkkynen@eltelnetworks.com
About Eltel
Eltel is a leading European provider of technical services for critical infrastructure networks – Infranets – in the segments of Power, Communication and Transport & Security, with operations throughout the Nordic and Baltic regions, Poland, Germany, the United Kingdom and Africa. Eltel provides a broad and integrated range of services, spanning from maintenance and upgrade services to project deliveries. Eltel has a diverse contract portfolio and a loyal and growing customer base of large network owners. The number of employees is approximately 9,300 and in 2014, Eltel net sales amounted to EUR 1,242 million. Eltel’s share is listed on Nasdaq Stockholm since February 2015.