Directed share issue for payment of year 2014 share-based incentive program
ESPOO, 30-4-2015 — /EuropaWire/ — Outotec’s Board of Directors has decided on issuance of shares held by the company for payment of the reward of the Share-based Incentive Program 2013-2015 from the 2014 earning period. The reward equals 10.95 % of the eligible maximum reward for the earning period, it can be paid to a maximum of 167 Outotec employees and is at maximum 100,621 shares.
Outotec’s Board of Directors has resolved to convey for free to the participants by a directed share issue without consideration a total maximum number of 77,227 Outotec shares held by the company. The Share-based Incentive Program’s third-party administrator currently holds a total of 23,394 Outotec shares, which will be used as part of the reward payment.
On March 30, 2015, the Annual General Meeting of Outotec authorized the Board of Directors to decide on the issuance of shares (maximum 18,312,149 shares, or approximately 10% of total shares) and the issuance of special rights entitling to shares. After the Share-based Incentive Program share issue, the Board has a remaining authorization for 18,234,922 shares valid until the closing of the next Annual General Meeting.
For further information please contact:
Mikko Puolakka, CFO
Tel. +358 20 529 211