Helsinki, Finland, 2014-05-28 13:30 CEST (GLOBE NEWSWIRE) --
MUNKSJÖ OYJ, STOCK EXCHANGE RELEASE 28 May 2014 at 1.30 pm CEST
Munksjö Oyj to establish a long-term share-based incentive programme for senior
executives and other key personnel
Munksjö's Board of Directors has approved a long-term share-based incentive
programme for Munksjö's senior executives and other key personnel,
approximately 35 persons. The objective of this plan is to align the company's
financial goals with the objectives of its shareholders and management by an
incentive plan based on share ownership in the company.
The share plan starts in 2014 with a three-year (2014-2016) performance period
and potential rewards will be paid after the end of the performance period.
Participation requires an initial investment (saving shares) in Munksjö shares
by each participant. A maximum number of saving shares is set for each
participant. The plan offers a right for a participant to receive one matching
share for each saving share and an opportunity to receive a maximum of five
performance shares if the performance targets set by the Board are attained.
The targets are based on the Group's dividend capacity and share price
development compared to a peer group of similar listed companies.
The potential incentives will be paid in Munksjö shares. The program has a cap
maximising the gross reward to an amount corresponding to 300 per cent of the
participant's annual base salary. If the targets set for the program are met in
full and the maximum number of saving shares are invested, the maximum gross
value of the program will correspond to approximately 500,000 shares.
For further information, please contact:
Åsa Fredriksson, SVP HR and Communications, tel. +46 10 250 1003
Laura Lindholm, Investor Relations Manager, tel. +46 10 250 1026
Munksjö - Materials for innovative product design
The Munksjö Group is an international specialty paper company with a unique
product offering for a large number of industrial applications and
consumer-driven products. Founded in 1862, Munksjö is among the leading
producers in the world of high-value added papers within attractive market
segments such as Decor paper, Release Liners, Electrotechnical paper, Abrasive
backings and Interleaving paper for steel. Given Munksjö's global presence and
way of integrating with its customers' operations, the company forms a global
service organisation with approximately 3,000 employees. Production facilities
are located in France, Sweden, Germany, Italy, Spain, Brazil and China. Munksjö
Oyj is listed on NASDAQ OMX Helsinki. Read more at www.munksjo.com.