Elektrobit Group Oyj - A PERSONNEL FUND IS ESTABLISHED IN ELEKTROBIT GROUP
April 27, 2005
A PERSONNEL FUND IS ESTABLISHED IN ELEKTROBIT GROUP
A profit-related pay scheme, in accordance with the Act on Personnel Funds, was implemented in the Elektrobit Group in the beginning of 2005, pursuant to which a predetermined proportion of the Group's result will be paid to the personnel fund as a profit-related payment. The Board of Directors will decide upon the grounds for the profit-related pay scheme annually. The intention is that, in addition to the personnel fund, also bonuses and a management incentive plan aiming to long-term shareholding are used as incentives within the Elektrobit Group.
Personnel funds, that are meant to be long-term incentives and invest a proportion of their funds in the employer company's shares, have been established to several companies. The intention also in Elektrobit Group is that the personnel fund would, as far as possible, use the profit-related payments paid to it mainly to acquiring of the Elektrobit Group Plc. shares. In the future the personnel then have a possibility to own Elektrobit Group together and thus benefit from the potential share value increase and dividend yields. The bylaws of the fund also enable a fund member to withdraw his/her personal fund units as Elektrobit Group Plc. shares, if desired.
Oulunsalo, 27 April 2005
ELEKTROBIT GROUP PLC.
Juha Hulkko
CEO
