Metsä Board Corporation’s directed free share issue to pay the rewards under the incentive scheme for the performance period 2020–2022
Metsä Board Corporation Stock exchange release Other information disclosed according to the rules of the Exchange 8 February 2023 at 5 pm EET
The Board of Directors of Metsä Board Corporation ("the Company") has decided on a directed free share issue to pay the rewards under the Company’s long-term incentive scheme for the earnings period 2020–2022.
The directed free share issue is based on the authorisation granted to the Board of Directors by the Annual General Meeting of Metsä Board Corporation on 24 March 2022.
In a directed free share issue, a maximum of 500,000 series B shares held by the Company may be issued to 25 key employees included in the incentive scheme in accordance with the terms and conditions of the scheme. No new shares will be issued under the scheme and the scheme will therefore not have a dilutive effect. Prior to the directed free share issue, the Company holds a total of 1,000,000 series B shares as treasury shares, of which at least 500,000 will remain in the possession of the Company after the directed free share issue.
The exact number of series B shares to be issued will be confirmed by 14 March 2023 at the latest and will be announced in a separate stock exchange release in connection with assigning the shares by 15 March 2023 at the latest.
Further information on Metsä Board’s remuneration and incentive schemes is available at: https://www.metsagroup.com/metsaboard/investors/corporate-governance/compensation/
METSÄ BOARD CORPORATION
Further information:
Katri Sundström, VP, Investor Relations, tel. +358 10 462 0101
Eeva Impiö-Loimaala, General Counsel, tel. +358 44 040 3877
Metsä Board
metsagroup.com/metsaboard
Metsä Board is a leading European producer of premium fresh fibre paperboards. We focus on lightweight and high-quality folding boxboards, food service boards and white kraftliners. The pure fresh fibres we use in our products are a renewable and recyclable resource, that can be traced back to sustainably managed northern forests. We are a forerunner in sustainability, and we aim to have completely fossil free mills and raw materials by the end of 2030.
Together with our customers we develop innovative packaging solutions to create better consumer experiences with less environmental impact. In 2021 our sales totalled EUR 2.1 billion, and we have around 2,400 employees. Metsä Board, part of Metsä Group, is listed on the Nasdaq Helsinki.