Amsterdam, the Netherlands, April, 4 2008 - Akzo Nobel N.V. has today announced an erratum in the table on page 99 of the company's 2007 Annual Report.
The table should read as follows:
|
2005-2006 |
AS FROM 2007 | ||
|
Rank |
Pay-out
(as % of target pay-out) |
Rank |
Pay-out
(as % of target pay-out) |
|
1 |
150% |
1 |
150% |
|
2 |
137.5% |
2 |
135% |
|
3 |
125% |
3 |
120% |
|
4 |
112.5% |
4 |
100% |
|
5 |
100% |
5 |
85% |
|
6 |
85% |
6 |
70% |
|
7 |
70% |
7 (median) |
55% |
|
8 (median) |
55% |
8 |
40% |
|
9 |
40% |
9 |
25% |
|
10 |
25% |
10-13 |
0% |
|
11-16 |
0% |
|
|
Furthermore, Akzo Nobel has reiterated that on March 7, 2008, the company filed, (at the AFM) the number of performance related shares for 2008 granted to the Board of Management. The number of performance related shares breaks down as follows:
Hans Wijers: 16,800 shares (2007: 23,000)
Rob Frohn: 11,600 shares (2007: 15,100)
Leif Darner: 11,600 shares (2007: 15,100)
While determining the number of shares to be granted conditionally, Akzo Nobel's Remuneration Committee has taken into account the expected value of the long-term incentive, based on a probability analysis. This explains why the conditional grant for 2008 is lower than the grant for 2007, despite the fact that, due to a proposed change in the remuneration policy (pursuant to which the company will no longer grant stock options to its Board members and executives) no stock options have been granted in 2008 to the Board of Management.
- - -
Note to editors
Akzo Nobel is one of the world's leading industrial companies. We are the largest global coatings manufacturer and the number one in decorative paints and performance coatings, as well as being a major worldwide supplier of specialty chemicals.
We employ around 60,000 people in more than 80 countries and are committed to developing innovative products and cutting-edge sustainable technologies. We endeavor to deliver whatever our customers require, wherever and whenever they need it. Based in the Netherlands, Akzo Nobel is a Fortune Global 500 company and is listed on the Euronext Amsterdam stock exchange. We are the Chemicals industry leader on the Dow Jones Sustainability Indexes, as well as being included on the FTSE4Good Index. Pro forma combined revenue for 2007 totaled EUR 14.4 billion. The financial results for the first quarter will be published on May 7, 2008.
Internet: www.akzonobel.com
Not for publication - for more information
Akzo Nobel nv
Corporate Media Relations, tel. +31 20 502 7833 Corporate Investor Relations, tel. +31 20 502 7854
Contact: Tim van der Zanden Contact: Dick Luijckx
