ASPO Plc STOCK EXCHANGE RELEASE February 14, 2012 at 14:00
The Board of Directors of Aspo Plc ("the Company") has resolved on a new share-based incentive plan for the Group key personnel. The aim of the plan is to combine the objectives of the shareholders and the key personnel in order to increase the value of the Company, to commit the key personnel to the Company, and to offer them a competitive reward plan based on long-term shareholding in the Company.
The new plan includes three performance periods, calendar years 2012, 2013 and 2014. The prerequisite for participation in the plan and for receipt of reward on the basis of performance period 2012 is that a key person acquires the Company's shares, or holds the Company's shares or Aspo Management Oy's shares, up to the number predetermined by the Board of Directors.
The Board of Directors of the Company will decide on the plan's performance criteria and on targets to be established for the performance criteria at the beginning of each performance period. The potential reward from the plan for the performance period 2012 will be based on the Aspo Group's key figure Earnings per Share (EPS), and it will be paid partly in the Company's shares and partly in cash in 2013. The aim is that the proportion to be paid in cash will cover taxes and tax-related costs arising from the reward to a key person. No reward will be paid if a key person's employment or service ends before the reward payment.
The shares paid on the basis of the performance period may not be transferred during the restriction period, which will end two years from the end of the performance period. If a key person's employment or service ends during the restriction period, he or she must gratuitously return the shares given as reward to the Company.
The target group of the plan consists of approximately 30 people. The rewards to be paid on the basis of the plan correspond to an approximate maximum total of 936,000 Aspo Plc shares (including also the proportion to be paid in cash).
ASPO Plc
Aki Ojanen
CEO
For further information, please contact:
Aki Ojanen, CEO Aspo Plc, +358 9 521 4010, +358 400 106 592, aki.ojanen@aspo.com (mailto:aki.ojanen@aspo.com)
www.aspo.com (http://www.aspo.com/)
Aspo is a conglomerate that owns and develops business operations in the Baltic Sea region focusing on demanding B-to-B customers. Our strong company brands - ESL Shipping, Leipurin, Telko and Kaukomarkkinat - aim to be the market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these. Together they generate Aspo's goodwill. Aspo's Group structure and business operations are continually developed without any predefined schedules.
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www.aspo.com
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information contained therein.
Source: Aspo Oyj via Thomson Reuters ONE
