Espoo, Finland, 2016-03-30 12:15 CEST (GLOBE NEWSWIRE) --
EFORE PLC Stock Exchange Release March 30, 2016 at 13:15 p.m.
The Board of Directors of Efore Plc has on March 30, 2016, resolved to cancel stock options “A”, “B” and “C” from stock option plan 1/2014 which have not been allocated and/or have been returned to the company. There are 233.333 stock options “A”, 500.000 stock options “B” and 500.000 stock options “C” which have not been allocated and/or have been returned to the company. The cancellation will be registered in the Finnish Trade Register on or about April 4, 2016.
After the cancellation there are 266 667 allocated stock options “A” and they entitle its holders to subscribe for maximum of 266 667 new shares in the company for EUR 0.7 subscription price.
The theoretical market value of stock option “A” based on Black & Scholes pricing model with 30 % volatility and 1.5 % risk free interest rate is EUR 0.156.
The terms and conditions of stock option plan 1/2014 are available on the company's website www.efore.fi.
EFORE PLC
Board of Directors
Further information: Päivi Marttila, Chairman of the Board of Directors, tel. +358 400 285 358.
DISTRIBUTION
Nasdaq 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 units are located in China and Tunisia. Sales and marketing operations are located in Europe, United States and China. In the fiscal year ending in December 2015, consolidated net sales totalled EUR 89,9 million and the Group's personnel averaged 887 . The company's share is quoted on the Nasdaq OMX Helsinki Ltd. www.efore.com