OUTOTEC OYJ STOCK EXCHANGE RELEASE, DECEMBER 21, 2012 AT 11.00 AM
Outotec's Employee Share Savings Plan 2013
Outotec has launched an Employee Share Savings Plan for the company's employees globally with the first saving period being calendar year 2013. The decision by Outotec's Board of Directors to launch the Plan was announced in September 2012.
Altogether 1,513 employees in 22 countries (equalling approximately 34% of employees eligible to participate) have signed up in this voluntary Plan. Participation in Finland, Sweden and five other countries exceeds 50% of the employees. The total amount of all savings in 2013 will be approximately EUR 3.65 million, which equals approximately 83,715 shares using the December 19, 2012 closing share price of 43.60 EUR.
"This extremely good participation in the Employee Share Savings Plan demonstrates that our people are committed to Outotec and building success together. I am very pleased with the result, as competent and motivated people are essential to Outotec's success in growing the business and making sustainable profits", says Outotec CEO Pertti Korhonen. "I believe that this Employee Share Savings Plan will help us to retain and attract our current and future employees and benefit all stakeholders."
The purpose of the Plan is to encourage employees to buy Outotec shares, strengthen the tie between the company's shareholders and employees as well as reward employees for their long-term commitment to the company. Outotec employees have a possibility to save a proportion of their salary for purchasing Outotec shares. Outotec offers each employee participating in the Plan in 2013 one free share for each acquired share after a designated holding period of approximately three years. For the potential following saving periods, subject to a separate Board decision, the participant will receive one free share for each two acquired shares. Free shares are taxable income for the recipient and will be paid partly in Outotec's shares and partly in cash. The cash proportion is intended for covering taxes and tax-related payments.
For further information please contact:
Ari Jokilaakso, Senior Vice President - Human Capital
tel. +358 20 529 2008
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