TALENTUM OYJ STOCK EXCHANGE RELEASE FEBRUARY 26, 2008 AT 9.45 am
TALENTUM'S SHARE-BASED INCENTIVE PLAN FOR 2007 - DIRECTED ISSUE FREE OF CHARGE
The Board of Directors of Talentum Oyj has confirmed the amount of the reward in
the first period of the Group management's share-based incentive plan. During
the 2007 period eight of the company's management or other key members of the
personnel came under the plan.
The income in the plan for the 2007 earning period is based on the consolidated
net sales and net profit and on the overall return on Talentum's shares.
The Talentum Board of Directors decided on March 8, 2007 to set up a share-based
incentive plan for the Group management. The Annual General Meeting on March 27,
2007 gave the Board authorization to decide on a share issue that would be
liable to charge and/or free of charge. The Board has decided to issue to the
people coming under the share-based incentive plan rewards in shares specified
according to the terms and conditions of the plan in question in the form of a
directed share issue free of charge, incorporating in total 74,970 new shares.
The plan includes three earning periods, which last for at least one financial
year and not more than three financial years. The first earning period began on
January 1, 2007 and ended on December 31, 2007. The total length of the plan is
five years. The rewards will be paid partly in the Company's shares and partly
in cash after the end of each earning period. The proportion to be paid in cash
will cover taxes and tax-related costs arising from the reward.
Transferring the shares earned from the earning period 2007 within two years
from the end of the earning period is prohibited. After this, the CEO of the
Company must, however, own 50% of the shares earned on the basis of the plan as
long as the service of the CEO continues and one year after the end of the
service. The Board of Directors will later decide on the following earning
periods and transfer restrictions concerning shares earned on the basis of those
earning periods.
As a result of the share issue, the total number of company shares will rise to
44,295,787. The issue will not change the company's share capital. The new
shares to be issued will be the same type as the other company shares and they
will bring shareholder rights once they have been entered in the trade register.
The new shares will be applied for trading on the OMX Nordic Exchange Helsinki.
The listing of the shares will require an exemption from publishing a
prospectus, granted by the Finnish Financial Supervision Authority, and the
permission of the OMX Nordic Exchange Helsinki for listing an extra lot of
shares.
TALENTUM OYJ
Lasse Rosengren
General Counsel
Further information:
Lasse Rosengren, General Counsel, tel. + 358 40 342 4204
Distribution:
OMX Nordic Exchange Helsinki
Principal media
TALENTUM'S SHARE-BASED INCENTIVE PLAN FOR 2007 - DIRECTED ISSUE FREE OF CHARGE
| Source: Talentum Oyj