Näckebro introduces bonus system and option programme

Näckebro introduces bonus system and option programme The Board of Näckebro has today decided to introduce a bonus system for all employees and to issue synthetic options on Näckebro shares to the company's senior management. Both the bonus system and option programme are judged useful to the future development of the Group. The bonus system can provide a maximum bonus of three months' salary per year, depending on how much the market value of the Näckebro share increases in relation to a reference group of shares. A maximum bonus will be achieved if the Näckebro share price rises by more than six per cent above the change in the reference group. The reference group comprises listed property companies Hufvudstaden, Diligentia, Tornet, PriFast, Fabege, Piren, Klövern, Wihlborgs, Wallenstam, Diös, Storheden and Norrporten. The Board has also decided to allocate a total of 60,000 options to five of Näckebro senior executives, 20,000 options to the Chief Executive and 10,000 to other persons. The options will run for 4.8 years and are priced at SEK 15 each. The exercise price has been set at SEK 120 by Handelsbanken Markets and is based, among other things, on an average share price of SEK 95.30 for the period 15-21 April 1997. The Board of Näckebro judges the valuation to be have been carried out on a sound commercial basis. Synthetic options have the same financial signification as ordinary call options. The options may not, however, be used to acquire shares in the company unless the purchase is settled in cash. Näckebro will receive the bonus payment but also a liability corresponding to the market value of the options. The change in the value of the liability will be recorded as current income. For further information, please contact: Jan Blomberg, Chairman of the Board, tel.: +46-(0)8-459 20 00