Espoo, Finland, 2011-03-25 08:00 CET (GLOBE NEWSWIRE) --
EFORE PLC Stock Exchange Release March 25, 2011 at 9.00 a.m.
The Annual General Meeting of Efore Plc resolved on February 10, 2011 that approximately 40% of the annual remuneration of the chairman and the other members of the Board of Directors is payable by the assignment of own shares held by the company.
Based on the authorization to issue shares given by the Annual General Meeting, the Board of Directors of Efore Plc has resolved to assign in aggregate 60 614 own shares held by the company as payment of the annual remuneration. The number of shares has in accordance with the resolution of the Annual General Meeting been determined based on the average of the closing prices of the Efore Plc share March 3 - 16, 2011. The assignment of the shares will take place on May 20, 2011.
After this assignment the number of own shares held by the company will be 861 535.
EFORE PLC
Board of Directors
For further information please contact Mr.Vesa Vähämöttönen, President and CEO, tel. +358 9 4784 6312
DISTRIBUTION
Nasdaq OMX Helsinki Oy
Principal media
Efore Group
Efore Group is an international company which develops and produces demanding power supply products. Besides Finland, the company’s product development and marketing units are located in China, the USA and Sweden. Its production units are located in China and Estonia. In the fiscal year ending in October 2010, consolidated net sales totaled EUR 69,7 million and the Group’s personnel averaged 534. The company's share is quoted on the Nasdaq OMX Helsinki Ltd.
www.efore.com
Vesa Vähämöttönen, President and CEO, tel. +358 9 4784 6312