Share Subscription Price and Market Value of Nokian Tyres plc Stock Options 2010A
The Annual General Meeting of Shareholders of Nokian Tyres plc decided on issue of stock options to the Nokian Tyres Group personnel on 8 April 2010.
The share subscription price for stock option 2010A is EUR 18.14/share (the trade volume weighted average quotation of the share on the NASDAQ OMX Helsinki Ltd. during 1 April–30 April 2010 deducted by the dividend paid in April). Each year dividends and repayments of equity will be deducted from the share subscription price.
A total of 1,320,000 new shares or existing shares held by the Company can be subscribed for with stock options 2010A. The share subscription period for stock options 2010A will be 1 May 2012–31 May 2014.
The Board of Directors decides on the distribution of stock options annually in spring 2010, 2011 and 2012. The target group of the Plan is the whole personnel of the Group including the members of the Group Management Team. The distribution of stock options may include special provisions that may concern the shareholding of a member of the Group Management Team or the Company’s financial success.
The theoretical market value of one stock option 2010A is EUR 5,97/stock option. The theoretical market value of the stock options 2010A is approximately EUR 7.9 million in total. The theoretical market value of one stock option has been calculated through the use of Black & Scholes stock option pricing model with the following input factors: share price EUR 17.41, share subscription price EUR 18.14, risk free interest rate 1.8%, validity of stock options four years and volatility 43 %.
In addition, a shareholding obligation tied to the return on the stock options, for the members of the Group Management Team is incorporated to the stock options 2010.
The terms and conditions of the Stock Options 2010 are available on the Company’s internet pages www.nokiantyres.com.
Nokian Tyres plc
Antti-Jussi Tähtinen
Marketing and Communications, Vice President
For further information, contact: Susanna Tusa, Secretary of the Board of Directors, tel. +358 10 401 7223.
Distribution: NASDAQ OMX Helsinki, media and www.nokiantyres.com
Nokian Tyres is the only tyre manufacturer in the world that focuses on customer needs in northern conditions. The company supplies innovative tyres for cars, trucks and special heavy machinery mainly in areas with special challenges on tyre performance: snow, forests and harsh driving conditions in different seasons. Nokian Tyres’ product development is consistently aiming for sustainable solutions for safety and the environment, taking into account the whole life cycle of the tyre. A part of the Nokian Tyres group, the tyre chain Vianor has over 600 outlets in 19 countries. In 2009, Nokian Tyres had 3,300 employees and net sales of approximately 800 million euros. Nokian Tyres’ share is listed on the NASDAQ OMX Helsinki. Further information: www.nokiantyres.com