Peter will continue his duties and responsibilities for SimCorp and prepare a smooth transition until the handover to Klaus on 1 September 2012. After that and until the end of 2012 Peter will stay at the Board of Director's disposal.
Klaus Holse's remuneration in SimCorp is in accordance with the remuneration guidelines approved by the Annual General Meeting held on 29 March 2012. As part of the service agreement Klaus Holse will as a non-recurring compensation be allocated restricted stock units comprising SimCorp shares with a total market value of DKK 10 million. The share price used for calculating the number of restricted stock units is DKK 932.7. The restricted stock units shall vest with 60% after 3 years, an additional 20% after 4 years and the remaining 20% after 5 years. Vesting requires that Klaus Holse is employed as CEO of SimCorp on the vesting dates. The allocation of restricted stock units is subject to an investment by Klaus Holse in SimCorp shares prior to 1 September 2012 at a market price of at least DKK 5 million. Klaus Holse shall maintain this investment for at least 5 years from 1 September 2012, however, the investment requirement will lapse pro rata as the restricted stock units vest.
- - -
Enquiries regarding this announcement should be addressed to: Jesper Brandgaard, Chairman of the Board of Directors, SimCorp A/S (+45 3544 8800, +45 44 42 32 95) or Peter L. Ravn, Chief Executive Officer, SimCorp A/S (+45 3544 8800, +45 4076 1841)