Aspocomp Group Plc
THE BOARD OF DIRECTORS OF ASPOCOMP GROUP PLC RESOLVED ON A SHARE REWARD PLAN FOR KEY PERSONNEL
Espoo, Finland, 2016-02-25 08:45 CET (GLOBE NEWSWIRE) --
Aspocomp Group Plc, Company Announcement, February 25, 2016 at 9:45 a.m.
The Board of Directors of Aspocomp Group Plc has resolved upon a new share-based incentive and commitment plan for the company’s key personnel. The aim of the reward plan is to combine the goals of the owners and the key personnel for increasing the value of the company on a permanent basis, to commit the key personnel to the company on a long-term basis and to offer the key personnel a competitive reward plan based on entrepreneurship.
The share reward plan 2016 offers the members of the Management Team (except for the CEO) and other key employees a possibility to receive the company’s shares based on achieved targets to be set by the Board of Directors for four earning periods, each comprising a 12 month financial year during the period 1/2016 through 12/2019.
The CEO of Aspocomp Group Plc is not included in this share reward plan. The CEO has a separate incentive scheme the Stock Option Plan 2014 which the Board of Directors decided on May 15, 2014.
The preliminary target group for the plan consists of approximately 20 persons. The Board of Directors may decide on including new key employees and their annual maximum reward. The maximum reward is expressed as a number of shares of which one half (1/2) is paid in shares and one half (1/2) consists of a cash payment, the amount of which is determined on the basis of the value of the share reward at the time of the payment. The cash payment aims at covering taxes and similar charges arising from the reward. Achievement of targets set for the earning periods determines the portion of the maximum reward to be paid to a person.
The approximately 20 persons that are preliminarily included in the plan may, based on achieved targets, annually be rewarded with a maximum of 100,000 shares of Aspocomp Group Plc, corresponding to approximately 1.6 percent of the current total amount of outstanding shares. Out of such amount, a maximum of 10,000 shares may annually be granted to each of the members of the management team and maximum of 4,000-6,000 shares to each key personnel. The annual maximum amount of shares to be granted will increase if the Board of Directors decide to include new persons in the plan.
Shares received on the basis of the share reward plan shall be held at least 36 months calculated from their entry on the book-entry account of the recipient. Should a target person’s employment or service relationship with a group company end during such commitment period, he or she is, according to the main rule, required to return the shares to the company without compensation.
For further information, please contact Mikko Montonen, CEO,
tel. +358 20 775 6860, mikko.montonen(at)aspocomp.com.
ASPOCOMP GROUP PLC
Aspocomp – PCB technology company
Aspocomp develops and sells PCB manufacturing services, focusing on the end-to-end fulfillment of customers’ PCB needs. Our seasoned professionals help customers to create the most optimal PCB designs, both in terms of performance and cost. Our trimmed production lines produce the most challenging designs with the shortest lead-times in the industry. Operating as a service business, we provide one-stop access to technology solutions and competitive products for all PCB technologies.
A printed circuit board (PCB) is the principal interconnection method in electronic devices. PCBs are used for electrical interconnection and as a component assembly platform in most electronic applications. Aspocomp’s PCBs are used in many applications, such as telecommunication networks and devices, automotive electronics, security and medical systems, chipset development and industrial automation.