PÖYRY PLC Company Announcement 5 February 2013 at 8.15 a.m.
The Board of Directors of Pöyry PLC resolved on an incentive plan for key personnel
The Board of Directors of Pöyry PLC has approved a new share-based incentive plan for the Pöyry 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 earning the Company's shares.
The plan consists of three discretionary periods, calendar years 2014, 2015 and 2016. The Board of Directors of the Company will decide on the performance criteria and their targets at the beginning of each discretionary period. The potential reward from the discretionary period 2014 will be based on the Pöyry Group's Earnings per Share (EPS) and on the continuance of employment or service.
The potential reward from the discretionary period 2014 will be paid in the Company's shares in 2017 after taxes and tax-related costs arising from the reward to the key employee have been deducted from the reward. As a rule, no reward will be paid if the key employee's employment or service ends before the reward payment.
The incentive plan is directed to approximately 35 people. The rewards to be paid on the basis of the discretionary period 2014 will correspond to an approximate value of a maximum total of 300.000 Pöyry PLC shares (gross), if the earnings target set by the Board of Directors is met. Should the Company's earnings exceed the target and reach maximum performance, as defined by the Board of Directors, the rewards to be paid on the basis of the discretionary period 2014 will correspond to an approximate value of a maximum total of 600.000 Pöyry PLC shares (gross).
PÖYRY PLC
Additional information:
Jaana Rinne, SVP, Human Resources
+358 10 33 22153
Pöyry is an international consulting and engineering company. We serve clients globally across the energy and industrial sectors and locally in our core markets. We deliver strategic advisory and engineering services, underpinned by strong project implementation capability and expertise. Our focus sectors are power generation, transmission & distribution, forest industry, chemicals & biorefining, mining & metals, transportation, water and real estate sectors. Pöyry has an extensive local office network employing about 6,500 experts. Pöyry's net sales in 2013 were EUR 650 million and the company's shares are quoted on NASDAQ OMX Helsinki (Pöyry PLC: POY1V).
DISTRIBUTION:
NASDAQ OMX Helsinki
Main media
www. poyry.com
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Pöyry Oyj via Globenewswire
