Termination of personnel share savings plan – change in Outotec Oyj treasury shares
OUTOTEC OYJ STOCK EXCHANGE RELEASE FEBRUARY 6, 2020 at 9:05 AM
Termination of personnel share savings plan – change in Outotec Oyj treasury shares
Outotec's Board of Directors has on February 5, 2020 decided to terminate the Employee Share Savings Plan (O’Share) and on an early settlement of free shares in the pending O’Share 2017, 2018 and 2019 saving periods by a conveyance of existing Outotec shares held by the company. The decision is related to the expected merger of Outotec and Metso.
An estimated number of 215,000 shares up to the maximum of 430,000 treasury shares of Outotec Oyj will be conveyed without consideration to 933 persons participating in O’Share 2017, 2018 and 2019 savings periods.
The total number of payable shares will be determined by the payment date on February 28, 2020 as it is subject to employment and shareholding preconditions until the payment as well as country and participant specific taxation rates applicable to the gross free shares. For the 2017, 2018 and 2019 savings periods, Outotec offered one free share for each two acquired shares after a holding period of approximately three years. 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. O’Share was initiated on September 25, 2012.
The directed share issue is based on an authorization given by the Annual General Meeting held on March 14, 2019.
For further information please contact:
OUTOTEC
Jari Ålgars, CFO
Tel. 211
Email:
DISTRIBUTION:
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