The Board of Directors of Oriola-KD Corporation Decided to Continue the Key Personnel Share Savings Plan
Oriola-KD Corporation Stock Exchange Release 18 June 2015 at 11.00 a.m.
The Board of Directors of Oriola-KD Corporation Decided to Continue the Key
Personnel Share Savings Plan
Oriola-KD Corporation announced on 28 May 2013 the implementation of a Key
Personnel Share Savings Plan (the Plan).
The Board of Directors has decided to launch a new Savings Period 2015-2016 that
will be offered to approximately 95 Group key employees. This Savings Period
will last for 15 months, and it will begin on 1 October 2015 and end on 31
December 2016. The maximum monthly saving is 8.3 percent and the minimum is 2
percent of each participant's fixed monthly gross salary. The accumulated
savings are used for purchasing Oriola-KD class B shares for the participants at
the market price quarterly.
In return, each participant will receive two free class B matching shares for
every three acquired savings shares. Matching shares will be delivered to a
participant if the participant holds the acquired shares from the Savings Period
until the end of the designated holding period and if his or her employment with
a company has not been terminated on the last day of the holding period on bad
leaver terms. The holding period will end on the publication date of the Oriola-
KD Q4/2017 interim report. Matching shares will be paid partly in the Company's
class B shares and partly in cash. The cash proportion is intended for covering
taxes and tax-related payments arising from the reward to a key person.
A key person will participate in the Plan for one savings period at a time.
Shares will be acquired with the accrued savings at the market price quarterly,
after the publication date of the relevant interim report. Any dividends paid on
purchased shares during the commencing Savings Period will automatically be
reinvested into additional class B shares on the following purchase date. These
shares will have an equal right to matching shares.
Assuming all eligible employees will participate and will save an average of 5
percent of their fixed monthly gross salary the aggregated estimated number of
new shares to be issued or treasury shares held by the Company to be transferred
as matching shares based on the 15 month Savings Period 2015-2016 is
approximately 84,000 class B shares, currently corresponding to 0.04 percent of
all of the Company's shares.
President and CEO
For further information, please contact:
President and CEO
tel. +358 (0)10 429 2109
NASDAQ OMX Helsinki Ltd.