TELESTE CORPORATION STOCK OPTIONS 2007A DISTRIBUTED
TELESTE CORPORATION STOCK EXCHANGE RELEASE 10.9.2007 16:15
TELESTE CORPORATION STOCK OPTIONS 2007A DISTRIBUTED
The Board of Directors of Teleste Corporation decided on the distribution of
stock options 2007A to the Group key personnel. The Annual General Meeting of
Shareholders of Teleste Corporation decided on the issue of the stock options on
3 April 2007. A total of 260 000 stock options 2007A were distributed to the key
personnel.
The total number of Teleste Corporation new shares, or existing shares held by
the Company, that can be subscribed for with the stock options 2007, is 840,000.
The share subscription period for stock options 2007A will be 1 April 2010-30
April 2012, for stock options 2007B 1 April 2011-30 April 2013 and for stock
options 2007C 1 April 2012-30 April 2014.
The share subscription price for stock options 2007A is EUR 12.69 that is the
trade volume weighted average quotation of the Teleste Corporation share on the
OMX Nordic Exchange Helsinki Stock Exchange Oy during 1 April-30 April 2007 with
an addition of 10 per cent. The share subscription price for stock options 2007B
is the trade volume weighted average quotation of the Teleste Corporation share
on the OMX Nordic Exchange Helsinki Oy during 1 April-30 April 2008 with an
addition of 10 per cent, and for stock options 2007C the trade volume weighted
average quotation of the Teleste Corporation share on the OMX Nordic Exchange
Helsinki Oy during 1 April-30 April 2009 with an addition of 10 per cent. From
the share subscription price of stock options will be deducted the amount of the
dividend distributed annually.
A share ownership plan, in which the senior management included in the stock
option plan is obliged to acquire the Company's shares with 20% of the gross
income gained from the exercised stock options, is incorporated into the stock
options 2007. The obligation to subscribe for shares expires when a person
belonging to the senior management owns the Company's shares worth his/her gross
annual salary.
They must own shares, acquired with the income gained from the stock options,
worth their gross annual salary as long as their employment or service in the
Group continues.
The terms and conditions of the stock options 2007 are available on the
Company's internet pages: www.teleste.com.
TELESTE CORPORATION
Jukka Rinnevaara
President and CEO
FOR MORE INFORMATION:
Mr Jukka Rinnevaara President and CEO, tel +358 2 2605 866 or +358 400
747 488
DISTRIBUTION:
OMX Nordic Exchange Helsinki
Main Media
www.teleste.com