Elektrobit Group Oyj - ELEKTROBIT ENCOURAGES THE MANAGEMENT TO LONG-TERM WORK
June 23, 2005
ELEKTROBIT ENCOURAGES THE MANAGEMENT TO LONG-TERM WORK
A total of 612.000 2005A- stock options were distributed to Group management. The rest, 288.000 stock options 2005A, 1.200.000 stock options 2005B, 1.200.000 stock options 2005C and 1.200.000 stock options 2005D were granted to Elektrobit Technologies Ltd, a wholly-owned subsidiary of Elektrobit Group Plc., to be further distributed to the present and future managers of the Group at a later date. In accordance with the terms and conditions of the stock options, the prerequisite for receiving 2005A- stock options was that the participating managers purchase a predetermined number of Elektrobit Group shares, as decided by the Board of Directors.
In accordance with the share ownership plan, associated with this stock option plan, the participating managers are committed to acquire further company's shares with a considerable portion of the future income from the distributed stock-options.
The Annual General Meeting approved the issue of the stock option plan on 17 March 2005. The terms of the stock option plan were published in their entirety in the stock exchange release on 15 February 2005. Due to the combination of Elektrobit Group Plc's shares, the Board of Directors has amended the terms and conditions of the stock options accordingly, as concerns the number of stock options and the number of shares to be subscribed for by virtue of the stock options.
Oulunsalo, 23 June 2005
Elektrobit Group Plc.
Board of Directors
