Espoo, Finland, 2016-08-24 13:00 CEST (GLOBE NEWSWIRE) -- SRV GROUP PLC STOCK EXCHANGE RELEASE 24 AUGUST 2016 AT 14.00
SRV Group Plc to convey its own shares to President & CEO Juha Pekka Ojala as part of a long-term incentive scheme
SRV Group Plc has today decided to convey, without consideration, a total of 30,168 own shares held by the company to President & CEO Juha Pekka Ojala in accordance with the terms of the President & CEO’s share-based bonus scheme. The shares will be granted on the basis of the share bonus scheme’s Series B acquisition rights (144,000 acquisition rights).
The conveyance of shares via a directed share issue without consideration is based on an authorisation granted by the Annual General Meeting of SRV Group Plc on 22 March 2016.
The shares will be conveyed no later than 2 September 2016. A two-year lock-up period is associated with part of the shares conveyed.
Details of the President & CEO’s long-term incentive scheme have been announced earlier. Further information on remuneration schemes is available on the company’s website at www.srv.fi/en/srv-company/investors/corporate-governance/remuneration.
Before the conveyance of the shares, SRV Group Plc held 1,155,243 of its own shares. After the shares are conveyed, SRV Group Plc will hold 1,125,075 of its own shares. After the shares are conveyed, the number of votes conferred by the SRV Group Plc´s shares will be 59,374,500 (taking into account the shares held by the company) and the total number of shares will be 60,499,575.
Further information:
Johanna Metsä-Tokila, Senior Vice President, General Counsel, tel. +358 40 562 0408, johanna.metsa-tokila@srv.fi
Ilkka Pitkänen, CFO, +358 40 667 0906, ilkka.pitkanen@srv.fi
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