Suominen’s directed share issue without consideration for the reward payment from Share-Based Incentive Plan 2012–2014
Helsinki, Finland, 2015-03-17 11:00 CET (GLOBE NEWSWIRE) -- Suominen Corporation Stock Exchange Release 17 March 2015 at 12:00 EET
SUOMINEN’S DIRECTED SHARE ISSUE WITHOUT CONSIDERATION FOR THE REWARD PAYMENT FROM SHARE-BASED INCENTIVE PLAN 2012–2014
The Board of Directors of Suominen Corporation has on 17 March 2015 resolved on a directed share issue without consideration for the reward payment from Suominen Share-Based Incentive Plan 2012–2014.
In the share issue in total 802,644 Suominen’s own shares will be transferred without consideration to the key persons participating in the Share-Based Incentive Plan 2012–2014 according to the terms and conditions of the plan.
The Board of Directors of Suominen resolved of the Share-Based Incentive Plan 2012–2014 in February 2012. The aim of the Plan was to combine the objectives of the shareholders and the key employees in order to increase the value of the Company, to commit the key employees to the Company, and to offer them a competitive reward plan based on long-term shareholding in the Company.
A total of seven (7) people are in the target group of the payment from the plan.
The resolution on the directed share issue without consideration is based on the authorization granted to the Board of Directors by the General Meeting of Shareholders held on 26 March 2014.
The shares will be transferred on 20 March 2015. The number of treasury shares after the transfer is 1,000,875.
Nina Kopola, President & CEO
For further information, please contact Nina Kopola, President & CEO, tel. +358 10 214 300
NASDAQ OMX Helsinki Ltd
Suominen in brief
Suominen manufactures nonwovens as roll goods for wipes as well as for medical and hygiene products. The end products made of Suominen’s nonwovens – wet wipes, feminine care products and swabs, for instance - bring added value to the daily life of consumers worldwide. Suominen is the global market leader in nonwovens for wipes and employs approximately 600 people in Europe and in the Americas. Suominen’s net sales in 2014 amounted to MEUR 401.8 and operating profit excluding non-recurring items to MEUR 26.9 (continuing operations). The Suominen share (SUY1V) is listed in NASDAQ OMX Helsinki Stock Exchange. Read more at www.suominen.fi.