RAUTE CORPORATION'S CONVEYANCE OF OWN SHARES
RAUTE CORPORATION STOCK EXCHANGE RELEASE 24 March 2009 at 10.15 a.m.
RAUTE CORPORATION'S CONVEYANCE OF OWN SHARES
Raute Corporation's Board of Directors has decided to convey 18,900 Raute's
series A shares held by the Company gratuitously to 17 key persons of the
Company's share-based incentive plan as reward payment for the earnings period
2006-2008. The decision of conveying own shares through a directed bonus issue
is based on the authorization of the Annual General Meeting of Shareholders held
on 2 April, 2008.
Conveyance of own shares:
Date: 27 March 2009
Share: RUTAV
Amount: 18,900
The series A shares held by Raute Corporation
after the conveyance: 0 pcs
Raute Corporation's share-based incentive plan was approved by the Board of
Directors on 22 March 2006. The earning period began on 1 January 2006 and
ended on 31 December 2008. The amount of the reward that shall be paid on the
basis of the plan, was bound to Raute's operating profit (weight 75%) and the
evaluation of the Board of Directors on e.g. the materialization of the strategy
(weight +/- 25%). The reward from the plan shall be paid as combination of
shares and cash payment.
RAUTE CORPORATION
Arja Hakala
CFO
FURTHER INFORMATION:
Ms. Arja Hakala, CFO, Raute Corporation, tel. +358 3 829 3293
RAUTE IN BRIEF:
Raute is a technology company serving the wood products industry worldwide. Its
most important customers are the plywood and LVL industries. The company is one
of the world's leading suppliers of mill-scale projects to these customer
industries. The total service concept also includes technology services, with
which Raute supports its customers throughout the entire life cycle of their
investments. Raute's head office and main production plant are in Nastola,
Finland. Its other production plants are in the Vancouver area of Canada, in the
Shanghai area of China, and in Jyväskylä and Kajaani, Finland. Net sales in 2008
were EUR 98.5 million and the number of personnel 573. More information on the
company can be found at www.raute.com.
DISTRIBUTION:
NASDAQ OMX Helsinki Ltd, main media, www.raute.com