Ahlstrom Corporation STOCK EXCHANGE RELEASE 17.8.2010 at 15.32
The Board of Directors of Ahlstrom Corporation has decided that Ahlstrom will support a share ownership program of the Ahlstrom Executive Management Team. Ahlstrom will finance a holding company, Ahlcorp Oy, wholly owned by members of the Ahlstrom Executive Management Team, in a plan to enable the participants to acquire a considerable long-term shareholding in Ahlstrom. The plan aligns the interests of the management and Ahlstrom and supports the implementation of Ahlstrom's strategic targets.
The participants in the plan will personally invest a substantial amount of their own funds in Ahlstrom shares. They will finance their investments partly themselves and partly by a loan granted by Ahlstrom Corporation to Ahlcorp Oy. The actual owner risk will be borne personally by the participants for the part of their personal investment in the plan.
Ahlcorp Oy shall purchase a maximum amount of Ahlstrom shares worth EUR 4,400,000 as part of the plan.
The loan granted by Ahlstrom to Ahlcorp Oy is interest-bearing and amounts to a maximum of EUR 3,520,000. The loan will be repaid in full by December 31, 2013, at the latest. Should the plan under the terms of the arrangement be continued by one year at a time in 2013 or 2014, the term of the loan will be extended correspondingly. Ahlcorp has the right to repay the loan prematurely at any time, and it has the obligation to repay the loan prematurely by selling the Ahlstrom shares it holds, in case the Ahlstrom share price exceeds a certain predetermined level.
The plan will be valid until the announcement of Ahlstrom´s January-September 2013 interim report, after which the plan is intended to be dissolved in a manner to be determined later. The plan will be continued by one year at a time, in 2013 and 2014, in case the Ahlstrom share price in October-November of said years, is lower than the average share price which Ahlcorp paid for its Ahlstrom shares.
During the validity of the plan, the transfer of the Ahlstrom shares held by Ahlcorp has been restricted.
For further information, please contact:
President & CEO
tel. +358 10 888 4700
NASDAQ OMX Helsinki
Ahlstrom in brief
Ahlstrom is a global leader in the development, manufacture and marketing of high performance nonwovens and specialty papers. Ahlstrom´s products are used in a large variety of everyday applications, such as filters, wipes, flooring, labels, and tapes. Based upon its unique fiber expertise and innovative approach, the company has a strong market position in several business areas in which it operates. Ahlstrom's 5,800 employees serve customers via sales offices and production facilities in more than 20 countries on six continents. In 2009, Ahlstrom's net sales amounted to EUR 1.6 billion. Ahlstrom's share is quoted on the NASDAQ OMX Helsinki. The company website is at www.ahlstrom.com.