SRV Group Plc to convey its own shares to President and CEO Juha Pekka Ojala as part of a long-term incentive scheme
SRV GROUP PLC STOCK EXCHANGE RELEASE 22 FEBRUARY 2016 AT 8.30
SRV Group Plc to convey its own shares to President and CEO Juha Pekka Ojala as part of a long-term incentive scheme
SRV Group Plc has granted to President and CEO Juha Pekka Ojala a share-based incentive scheme for the period 2015–2020 on the basis of which the President and CEO has 700,000 acquisition rights. The acquisition rights entitle the President and CEO to acquire a corresponding number of SRV Group Plc’s shares at a price of EUR 2.6145/share or to receive an amount of cash or shares or a combination of these corresponding to the benefit arising from exercising the acquisition rights, as decided by the company.
SRV Group Plc’s Board of Directors has decided, based on an authorisation granted by the Annual General Meeting held on 25 March 2015, to convey to President and CEO Juha Pekka Ojala a total of 11,276 of the own shares held by the company. The shares will be granted on the basis of the share bonus scheme’s Series A acquisition rights (144,000 acquisition rights). The shares are part of the President and CEO’s long-term share-based incentive scheme and they will be conveyed to the President and CEO without consideration. In addition, the President and CEO will be paid an amount in cash corresponding to the value of the shares for the payment of taxes.
The shares will be subscribed for and conveyed no later than 4 March 2016. A two-year lock-up period is associated with the ownership of a part of the shares.
After the shares are conveyed, SRV Group Plc will hold 1,162,841 of its own shares.
Further information on the President and CEO’s remuneration is available on the company’s website at www.srv.fi/en/srv-company/investors/corporate-governance/remuneration
Further information:
Katri Innanen, Senior Vice President, General Counsel, tel. +358 40 067 8898, katri.innanen@srv.fi
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