Sanitec Corporation to dissolve the share based incentive plan 2014 in connection with the public tender offer of Geberit AG
Sanitec Corporation to dissolve the share based incentive plan 2014 in connection with the public tender offer of Geberit AG; directed share issuance without consideration to the participants
On 14 October 2014, Geberit AG announced a public offer to the shareholders of Sanitec Corporation (“Sanitec”) to tender all shares in Sanitec to Geberit AG at a price of SEK 97 in cash per share. On 3 February 2015, Geberit AG announced that the offer has become unconditional and that the settlement will take place on or around 10 February 2015.
In connection therewith, the Board of Directors of Sanitec has resolved to dissolve as of today the share based incentive plan 2014, approved by the annual general meeting of shareholders on 13 May 2014, and to transfer 50,802 treasury shares held by the company to the participants of the plan in accordance with the terms and conditions of the plan. The transfer shall take place via a directed share issue without consideration pursuant to the authorization granted to the Board of Directors by the annual general meeting of shareholders on 13 May 2014. The transfer of the treasury shares is estimated to be completed on or around 4 February 2015.
After the completion of the transfer, Sanitec will hold in total 139,198 treasury shares. Sanitec has currently 100,000,000 registered shares, each share entitling to one vote at the general meeting of shareholders.
For additional information, please contact:
Niklas Alm
Head of Investor Relations
ir@sanitec.com
mob. 46 76 855 7836
Noora Koikkalainen
Head of Corporate Communications
sanitec.corporation@sanitec.com
tel. 358 10 662 5426
About Sanitec – “Home of the Bathroom”
Sanitec is the leader in bathroom ceramics in Europe. We have a unique portfolio of some of the most well-known brands with deep roots in the European fixtures markets, strategically positioned to address local markets. We care passionately about people’s needs when it comes to complete bathroom concepts, providing products that stand for guaranteed quality, high level of innovation and attractive design. Stable relationships with key stakeholders in the value chain and our unique brand strengths foster our leading position as well as the loyalty and trust amongst our customers, our network of installers and the end users of our products.
Sanitec operates an integrated European group with an unparalleled local presence to provide the best value when it comes to bathroom products. In 2013 net sales amounted to EUR 702 million. Our production network includes 18 production facilities throughout Europe and currently Sanitec employs approximately 6,200 people. Our head office is located in Helsinki, Finland. The shares in Sanitec Corporation are traded on NASDAQ Stockholm under the symbol “SNTC”.
For more information about Sanitec, please visit www.sanitec.com.