Tallinn, Estonia, 2013-09-12 16:23 CEST (GLOBE NEWSWIRE) --
The Supervisory Board of AS Ekspress Grupp has decided to extend the term of office of Gunnar Kobin, the Chairman of the Management Board and to grant him stock option under the following terms:
1. Eligible subject of the option is Gunnar Kobin, the member of the management board of AS Ekspress Grupp (further on: the Management Board Member);
2. Under the stock option plan, the Management Board Member is from 1 January 2017 until 31 March 2017 entitled to acquire up to 700 000 shares for free. The Supervisory Board is entitled to partially reduce the number of share options if the Management Board Member does not meet assigned goals;
3. To comply with the terms of the option, AS Ekspress Grupp acquires up to 700 000 own shares latest by 31 December 2016.
The terms of the option plan will be submitted for approval at AS Ekspress Grupp’s General Meeting of Shareholders.
Chairman of the Management Board
GSM: +372 5188111