THE BOARD OF DIRECTORS OF GLASTON CORPORATION RESOLVED ON INCENTIVE PLAN FOR KEY EMPLOYEESHelsinki, Finland, 2013-02-07 12:55 CET --
Glaston Corporation Stock Exchange Release 7 February 2013 at 13.55
THE BOARD OF DIRECTORS OF GLASTON CORPORATION RESOLVED ON INCENTIVE PLAN FOR KEY EMPLOYEES
The Board of Directors of Glaston Corporation has approved a new share based incentive plan for the Group key employees.
The aim of the new Plan is 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.
The new Plan includes one performance period, beginning on 15 March 2013 and ending on 15 March 2014. The Company is currently planning a share issue directed to the public. The prerequisite for participation in the Plan and for reward payment on the basis of the performance period is that a key employee subscribes the Company’s shares in this share issue. Rewards from the Plan will be paid in the Company’s shares in April 2014 providing that the key employee’s employment or service with the Group company is in force and that he or she still owns the shares subscribed in the share issue. If the prerequisites for the reward payment are fulfilled, a key employee shall receive one matching share (gross) for every three shares subscribed in the share issue. The main principle is that no reward will be paid, if the key employee’s employment or service ends before reward payment.
The Plan is directed to approximately 28 people.
For further information, please contact:
Arto Metsänen, CEO and President, Glaston Corporation, Tel. +358 10 500 500
GLASTON CORPORATION
Agneta Selroos
Director, Communications and Marketing
Glaston Corporation
Glaston is a global company developing glass processing technology for architectural, solar, appliance and automotive applications. Our portfolio ranges from pre-processing and safety glass machines to services. We are dedicated to our customers’ continued success and provide services for all glass processing needs with a lifecycle-long commitment in mind. For more information, please visit www.glaston.net. Glaston's share (GLA1V) is listed on the NASDAQ OMX Helsinki Small Cap List.
Distribution:
NASDAQ OMX Helsinki Ltd, Key Media, www.glaston.net
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