OUTOTEC OYJ STOCK EXCHANGE RELEASE APRIL 27, 2016 at 9.30 AM
Changes in Outotec's own shares
Outotec's Board of Directors has decided to issue Outotec shares held by the company for the payment of the free shares of Outotec's Employee Share Savings Plan from the 2013 savings period and for other possible rewards paid in shares.
Outotec's Employee Share Savings Plan, commenced on January 1, 2013, is offered for all employees globally in countries where there are no local legal, taxation or administrative restraints. Employees participating in the Plan save a proportion of their salary for purchasing Outotec shares. For the year 2013, Outotec offered one free share for each acquired share after a designated holding period of approximately three years. Approximately 1,420 Outotec employees are eligible for free shares from the 2013 saving period. Free shares are taxable income for the recipient and will be paid partly in Outotec's shares and partly in cash to cover taxes and tax-related payments. The exact amount of payable shares will be defined when the holding period of the Employee Share Savings Plan ends on May 15, 2016.
The estimated rewards paid in shares in total is maximum 282,000 shares.
Outotec's Board of Directors has decided that no shares will be paid from Share-based Incentive Program 2013-2015 for key employees for the 2015 earning period, because the targets were not reached.
For further information please contact:
Jari Ålgars, CFO
Tel. +358 20 529 211