Sponda Plc Stock Exchange Release 1 November 2013 at 8:40 a.m.
Sponda’s Board of Directors changes one of the earning criteria of the key employees’ share-based incentive scheme
On 1 February 2013, Sponda Plc announced the resolution of its Board of Directors regarding the earning period and earning criteria of the key employees’ share-based incentive scheme for the calendar years 2013-2015. The earning criteria for the earning period from 1 January 2013 to 31 December 2015 were the Group’s average Return on Capital Employed (ROCE) during the financial years 2013-2015, the Group’s cumulative Operational Cash Earnings Per Share (CEPS) during the financial years 2013-2015 and the Group’s Equity Ratio at the end of the period. The Board of Directors has today resolved that, instead of the Equity Ratio criterion, the third criterion for the earning period in question will be the sale of properties. The change is due to the strategy published by Sponda on 3 September 2013, the implementation of which is supported by the criterion related to the sale of properties. The company’s long-term Equity Ratio target is 40%.
During the earning period 2013-2015, members of the Group’s Executive Board, a total of seven persons, are included in the scheme. The Board of Directors may decide to include more key employees in the scheme.
More information on the terms of the incentive scheme can be found in the company’s Stock Exchange Releases dated 20 March 2012 and 1 February 2013.
Board of Directors
Further information: Kari Inkinen, President and CEO, tel. +358 400 402 653
NASDAQ OMX Helsinki Ltd
Sponda Plc is a property investment company specializing in commercial properties in the largest cities in Finland. Sponda's business concept is to own, lease and develop retail and office properties and shopping centres into environments that promote the business success of its clients. The fair value of Sponda's investment properties is approximately EUR 3.3 billion and the leasable area is around 1.4 million m².