The Board of Directors of Etteplan Oyj resolved on key personnel incentive plan to accelerate Company's growth
ETTEPLAN OYJ, STOCK EXCHANGE RELEASE, JUNE 3, 2014, AT 02.00 P.M.
THE BOARD OF DIRECTORS OF ETTEPLAN OYJ RESOLVED ON KEY PERSONNEL INCENTIVE PLAN TO ACCELERATE COMPANY’S GROWTH
Etteplan Oyj’s Board of Directors has confirmed the Company’s growth strategy for years
2014-2016. Etteplan raises its’ target level and strives to achieve on average 15 per cent annual growth. The growth target includes both organic growth and acquisitions. Company’s other long-term financial targets remain to be profitability, improvement of cash flow and increasing the share of Managed Services of total revenue.
Etteplan does not consider the long-term financial targets as market guidance for any given year.
In order to advance the achievement of Company’s long-term growth and other financial targets the Board of Directors of Etteplan Oyj has resolved to establish a new share-based incentive plan for the Group key personnel. The aim of the Plan is to combine the objectives of the shareholders and the key personnel in order to increase the value of the Company, to commit the key personnel to the Company, and to offer them a competitive reward plan based on holding the Company shares.
The Plan includes one earning period which includes calendar years 2014, 2015 and 2016. The earnings criteria are Etteplan Group´s revenue increase and the development of Total Shareholder Return (TSR).
The potential reward will be paid partly in the Company’s shares and partly in cash. The proportion to be paid in cash is intended to cover taxes and tax-related costs arising from the reward to the key personnel. Approximately 12 people belong to the target group of the Plan.
The rewards to be paid on the basis of the plan will correspond to the value of an approximate maximum total of 450,000 Etteplan Oyj shares (including also the proportion to be paid in cash). The shares to be paid out as potential rewards will be transferred from the shares held by the company or shares acquired from the market, and therefore the incentive plan will have no diluting effect on the share value.
Vantaa, June 3, 2014
Etteplan Oyj
Board of Directors
Additional information:
Juha Näkki, President and CEO, tel. +358 400 606 372
DISTRIBUTION:
NASDAQ OMX Helsinki
Major media
www.etteplan.com
Etteplan provides engineering planning services and technical product information solutions to the world's leading companies in the manufacturing industry. Our services are geared to improve the competitiveness of our customers' products and engineering processes throughout the product life cycle. The results of Etteplan's innovative engineering can be seen in numerous industrial solutions and everyday products.
In 2013, Etteplan had a turnover of EUR 128.6 million. The company has more than 1,700 professionals in Finland, Sweden, the Netherlands and China. Etteplan's shares are listed on NASDAQ OMX Helsinki Ltd under the ticker ETT1V.