Own investment based stock option plan to Okmetic management
OKMETIC OYJ STOCK EXCHANGE RELEASEÂ Â Â 18 DECEMBER 2013 AT 9.30 A.M.
Based on the authorization given by the Annual General Meeting held on April
10, 2013, Okmetic Board of Directors has decided to grant stock options to the
key managers of Okmetic.
As a precondition for being eligible to receive the stock options, the key
managers are required to invest in Okmetic shares. According to the investment
requirement, the key managers are required to hold in the aggregate 262,600
Okmetic shares to be eligible to receive all of the stock options.
The stock options shall, in deviation from the shareholders' pre-emptive
subscription right, be offered to the key managers of Okmetic.
The maximum total number of stock options offered is 870,000, which entitle
participants to subscribe for a maximum number of 870,000 Okmetic shares (4.8%
of the company's shares on a fully diluted basis). Each stock option entitles
participants to subscribe for one share. The shares subscribed with the stock
options may either be new shares issued by the company or existing shares held
by the company. Of the stock options, 320,000 shall be marked with the symbol
2013 A and 550,000 with the symbol 2013 B. The stock options shall be issued
free of charge.
The share subscription price for the stock options 2013 A shall be euro 5.75
(approximately 20% above current share price) and for the stock options 2013 B
euro 6.00 (approximately 25% above current share price). Future dividends and
capital repayments from the invested unrestricted equity reserve distributed
before the share subscription shall be deducted from the share subscription
The share subscription period for 25% of the stock options 2013 A and 2013 B
will commence on or about February 1, 2016 and for 75% of the stock options
2013 A and 2013 B on or about February 1, 2017. The share subscription period
for all the stock options ends on March 31, 2018.
Grounds for deviation from shareholders' pre-emptive subscription right
There is, for the company and in the interest of all the company's shareholders,
a substantial financial ground to grant the stock options in deviation from the
shareholders' pre-emptive subscription right, since the stock options are
intended to align the interests of the shareholders and the key managers and to
form a part of the incentive and commitment program of the key managers. The
purpose of the arrangement is to encourage the key managers to invest in the
company's shares and to work on a long-term basis to increase the company's
Board of Directors
For further information, please contact:
Senior Vice President, Finance, IT, and Communications Juha Jaatinen, Okmetic
Oyj, tel. +358 9 5028 0286, email: firstname.lastname@example.org
NASDAQ OMX Helsinki
OKMETIC IN BRIEF
Take it higher
Okmetic is a technology company which supplies tailor-made silicon wafers for
sensor and semiconductor industries and sells its technological expertise.
Okmetic provides its customers with solutions that boost their competitiveness
Okmetic's silicon wafers are part of a further processing chain that produces
end products that improve human interaction and quality of life. Okmetic's
products are based on high-tech expertise that generates added value for
customers, innovative product development and an extremely efficient production
Okmetic has a global customer base and sales network, production plants in
Finland and the US and contract manufacturers in Japan and China.
Okmetic's shares are listed on NASDAQ OMX Helsinki under the code OKM1V. For
more information on the company, please visit our website at www.okmetic.com.
Own investment based stock option plan to Okmetic management:
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Okmetic Oyj via GlobeNewswire