RAISIO TO SET UP A SHARE-BASED INCENTIVE SCHEME
Raisio plc, Stock exchange release 28 May 2008
RAISIO TO SET UP A SHARE-BASED INCENTIVE SCHEME
Raisio plc's Board of Directors decided on 28 May 2008 to set up a three-year
share-based incentive scheme as a part of the incentive and reward system
offered to Raisio's key personnel. The goal is to integrate the targets of
shareholders and key employees in order to increase the company's market
capitalization, to enhance the key employees' commitment to the company and to
offer them a competitive reward system based on share ownership.
The scheme gives authorisation during three years to distribute a maximum of
1,600,000 of Raisio plc's free shares already in the company's possession after
the share repurchases carried out in 2005-2007. Rewards are paid as a
combination of shares and cash. Cash payments are to cover the taxes and fiscal
fees arising from share-based rewards.
The financial year 2008 is the first earnings period in the scheme, which uses
turnover growth and profit before extraordinary items and taxes as earnings
criteria. The maximum number of shares to be distributed is 400,000 free shares.
The amount earned in rewards will be determined on the basis of the achievement
of targets after the financial statements have been prepared in the spring of
2009. Any rewards will be paid to those covered by the scheme in August 2009.
Shares distributed as part of the scheme are subject to a disposal restriction
and return obligation, which last until 1 September 2011 and will be applied if
the employee's employment or job contract end prior to the expiration of the
disposal restriction. The scheme covers 15 people in the first earnings period.
RAISIO PLC
Heidi Hirvonen
Communications Manager
Tel. +358 50 567 3060
Further information:
Call requests to Mr Simo Palokangas, Chairman of the Board, will be forwarded by
Heidi Hirvonen.