Correction to Glaston Corporation's Financial Statements Review 2008
GLASTON CORPORATION Stock Exchange Release 10 February 2009 17.15
Correction to Glaston Corporation's Financial Statements Review 2008
In Glaston's Financial Statements Review 2008 published today, there is a
mistake in the section Share-based incentive scheme and the xxx per cent is
corrected to 0 per cent.
The final text is:
Share-based incentive scheme
On 9 May 2007, Glaston's Board
of Directors decided on a new share-based incentive scheme for the Glaston
Group's key personnel. The scheme has three one-year performance periods, namely
the calendar years 2007, 2008 and 2009. The scheme will be settled in 2008, 2009
and 2010 in shares and cash. The proportion to be settled in cash is intended to
cover taxes and tax-related social costs arising to key personnel from the
bonus. Shares cannot be disposed of within two years of the bonus being awarded.
The potential bonus from the scheme for the 2008 performance period is based on
growth of the Group's profit and net sales. If the targets set for the
performance criteria of the incentive scheme for the years 2007-2009 are
achieved in full, a maximum of 652,500 shares, namely 217,000 shares per year,
will be given as bonus from the scheme, and cash paid will be at most the amount
needed for the taxes and tax-related social costs arising to key personnel from
the bonus at the time the bonus is paid.
Glaston's Board of Directors confirmed the incentive scheme return for 2008 as 0
per cent. The impact of incentive schemes on the 2008 result was EUR 0.3
million.
Sender:
Glaston Corporation
Agneta Selroos
IR and Communications Manager
Tel. +358
10 500 6105
Glaston Corporation
Glaston Corporation is a growing, international glass
technology company. Glaston is the global market leader in glass processing
machines, and a comprehensive One-Stop-Partner supplier to its customers. Its
product range and service network are the widest in the industry. Glaston's
well-known brands are Bavelloni in pre-processing machines and tools, Tamglass
and Uniglass in safety glass machines, and Albat+Wirsam in glass industry
software.
Glaston's own glass processing unit, Tamglass Glass Processing, is a local
Finnish manufacturer of high quality safety glass products. Glaston's share
(GLA1V) is quoted on the NASDAQ OMX Helsinki Mid Cap List.
www.glaston.net
