Espoo, Finland, 2013-05-23 08:05 CEST (GLOBE NEWSWIRE) --
EFORE PLC Stock Exchange Release May 23, 2013 at 9.05
The Annual General Meeting of Efore Plc resolved on February 7, 2013 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 74 791 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 (EUR 0.73) of the Efore Plc share April 8-18, 2013. The assignment of the shares will take place on June 20, 2013.
After this assignment the number of own shares held by the company would be 1,143,753.
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 products. Efore's head office is based in Finland and its production unit is located in China. Efore is present also in Sweden. In the fiscal year ending in October 2012, consolidated net sales totaled EUR 78,1 million and the Group's personnel averaged 888. The company's share is quoted on the Nasdaq OMX Helsinki Ltd.
Vesa Vähämöttönen, President and CEO, tel. +358 9 4784 6312