ESPOO, 01-Nov-2016 — /EuropaWire/ — Outotec’s Board of Directors has decided to continue Outotec’s Employee Share Savings Plan (announced on September 25, 2012) for the calendar year 2017. The Plan commenced on January 1, 2013 and has continued for four saving periods.
“I am very pleased that the Employee Share Savings Plan will continue for the fifth year at Outotec. I believe that this reward system motivates our people to work towards common goals and benefits all our shareholders”, says Outotec CEO Markku Teräsvasara.
Outotec employees have a possibility to save a proportion of their salary for purchasing Outotec shares. To encourage participation, Outotec offers each employee participating in the Plan one free share for each two acquired shares after a designated holding period of approximately three years. Free shares are taxable income for the recipient and will be paid partly in Outotec’s shares and partly in cash. The cash proportion is intended for covering taxes and tax-related payments.
The Employee Share Savings Plan is offered for Outotec employees globally in countries where there are no local legal, taxation or administrative restraints. The maximum monthly saving is five per cent and the minimum is two per cent of each participant’s gross base salary during one month. The total amount of all savings in 2017 may not exceed EUR 4 million.
Shares will be acquired with the accumulated savings at the market price quarterly, after the publication of Outotec’s interim results, commencing from April 2017. Any dividends paid on purchased shares will be reinvested into additional shares on the following purchase date. These shares will have equal rights to free shares. Participation in the Plan is voluntary to employees.
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