Helsinki, 2014-03-18 08:00 CET (GLOBE NEWSWIRE) -- YIT CORPORATION STOCK EXCHANGE RELEASE MARCH 18, 2014 AT 9:00 A.M.
REVIEW BY THE PRESIDENT AND CEO AND SHARE-BASED INCENTIVE SCHEME DISCUSSED AT THE ANNUAL GENERAL MEETING OF YIT CORPORATION
YIT Corporation is holding its Annual General Meeting today, March 18, 2014 at 10:00 a.m. The President and CEO Kari Kauniskangas will present a review of YIT’s Financial Statements for 2013 as well as the outlook for the present year. President and CEO Kauniskangas will briefly comment on the current market environment and the effects of the ongoing situation in Ukraine on YIT’s business. So far, the crisis has not had a negative effect on YIT’s residential sales in Russia but it is apparent that if the crisis continues it will affect YIT’s business operations. No essential new information will be published in the review.
Henrik Ehrnrooth, the chairman of the Board, will present at the AGM a new share-based incentive scheme being prepared by the Board of Directors, where earning periods are the years 2014, 2015 and 2016. The planned incentive scheme would cover approximately 200 key persons annually. Any bonus would be determined on the basis of the Group’s financial performance which would be measured based on indicators decided annually by the Board of Directors of YIT Corporation.
The complete agenda of the Annual General Meeting was published on February 6, 2014. The Annual General Meeting agenda and the presentation material of the review of the President and CEO Kari Kauniskangas are available on the YIT website at www.yitgroup.com.
Vice President, Investor Relations
Distribution: NASDAQ OMX, principal media, www.yitgroup.com
YIT is a construction industry leader. We create better living environments in Finland, Russia, the Baltic countries, the Czech Republic and Slovakia. Over 100 years of experience have secured for us a strong market position: We are the largest housing developer and one of the largest business premises and infrastructure developers in Finland, and the most significant foreign housing and area developer in Russia. Our vision is to stay one step ahead – while caring for our customers, partners and personnel. We have more than 6,000 employees in seven countries. In 2013, our revenue amounted to nearly EUR 1.9 billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com