HELSINKI, 4-2-2015 — /EuropaWire/ — Sanitec Corporation to dissolve the share based incentive plan 2014 in connection with the public tender offer of Geberit AG; directed share issuance without consideration to the participants
On 14 October 2014, Geberit AG announced a public offer to the shareholders of Sanitec Corporation (“Sanitec”) to tender all shares in Sanitec to Geberit AG at a price of SEK 97 in cash per share. On 3 February 2015, Geberit AG announced that the offer has become unconditional and that the settlement will take place on or around 10 February 2015.
In connection therewith, the Board of Directors of Sanitec has resolved to dissolve as of today the share based incentive plan 2014, approved by the annual general meeting of shareholders on 13 May 2014, and to transfer 50,802 treasury shares held by the company to the participants of the plan in accordance with the terms and conditions of the plan. The transfer shall take place via a directed share issue without consideration pursuant to the authorization granted to the Board of Directors by the annual general meeting of shareholders on 13 May 2014. The transfer of the treasury shares is estimated to be completed on or around 4 February 2015.
After the completion of the transfer, Sanitec will hold in total 139,198 treasury shares. Sanitec has currently 100,000,000 registered shares, each share entitling to one vote at the general meeting of shareholders.
For additional information, please contact: Niklas Alm, Head of Investor Relations email@example.com tel. +46 76 855 7836
Noora Koikkalainen, Head of Corporate Communications firstname.lastname@example.org tel. +358 10 662 5426
Sanitec is the market leader in bathroom ceramics and a leading supplier of bathroom fixtures in the Company’s core markets with a unique portfolio of locally well-established brands. Sanitec has longstanding and stable relationships with customers, installers and other industrial partners, and develops sustainable and complete bathroom concepts including bathroom ceramics, furniture, pre-wall flushing solutions, taps and mixers, as well as baths and showers. Sanitec’s brands and products represent a high level of innovation and quality, as well as advanced design that is both functional and attractive.
Sanitec operates an integrated organisation with an unparalleled local presence to provide the best value to its customers when it comes to bathroom products. In 2013, net sales amounted to EUR 702 million, and currently Sanitec employs approximately 6,200 people working in 18 European based production plants and at the Company’s sales, product management and design and other support offices. Sanitec’s head office is located in Helsinki, Finland. The shares in Sanitec Corporation are admitted on trading on NASDAQ Stockholm under the symbol “SNTC”.
For more information about Sanitec and its products, please visit www.sanitec.com