18.06.2015 09:30:34
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The Board of Directors of Oriola-KD Corporation Decided to Continue the Key Personnel Share Savings Plan
Oriola-KD Corporation Stock Exchange Release 18 June 2015 at 11.00 a.m.
The Board of Directors of Oriola-KD Corporation Decided to Continue the Key Personnel Share Savings Plan
Oriola-KD Corporation announced on 28 May 2013 the implementation of a Key Personnel Share Savings Plan (the Plan).
In return, each participant will receive two free class B matching shares for every three acquired savings shares. Matching shares will be delivered to a participant if the participant holds the acquired shares from the Savings Period until the end of the designated holding period and if his or her employment with a company has not been terminated on the last day of the holding period on bad leaver terms. The holding period will end on the publication date of the Oriola-KD Q4/2017 interim report. Matching shares will be paid partly in the Company's class B shares and partly in cash. The cash proportion is intended for covering taxes and tax-related payments arising from the reward to a key person.
A key person will participate in the Plan for one savings period at a time. Shares will be acquired with the accrued savings at the market price quarterly, after the publication date of the relevant interim report. Any dividends paid on purchased shares during the commencing Savings Period will automatically be reinvested into additional class B shares on the following purchase date. These shares will have an equal right to matching shares.
Assuming all eligible employees will participate and will save an average of 5 percent of their fixed monthly gross salary the aggregated estimated number of new shares to be issued or treasury shares held by the Company to be transferred as matching shares based on the 15 month Savings Period 2015-2016 is approximately 84,000 class B shares, currently corresponding to 0.04 percent of all of the Company's shares.
Oriola-KD Corporation
Eero Hautaniemi
President and CEO
For further information, please contact:
Eero Hautaniemi
President and CEO
tel. +358 (0)10 429 2109
e-mail: eero.hautaniemi@oriola-kd.com
Distribution:
NASDAQ OMX Helsinki Ltd.
Key media
Released by:
Oriola-KD Corporation
Corporate Communications
Orionintie 5
FI-02200 Espoo
www.oriola-kd.com
Oriola-KD Corporation
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Oriola-KD Oyj via Globenewswire
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