Stock Exchange & Press Releases 2000

Print Print this release
Elektrobit Group Oyj - A NEW OPTIONS PROGRAM FOR JOT AUTOMATION GROUP´S EMPLOYEES

April 26, 2000

A NEW OPTIONS PROGRAM FOR JOT AUTOMATION GROUP´S EMPLOYEES


Based on authorization given by the shareholders' meeting held October 1, 1999, JOT Automation Group Plc's Board decided at the Board meeting held on April 26, 2000 to grant JOT Automation Group's employees rights of option (subscription warrants) giving them subscription rights to no more than 3,000,000 JOT Automation Group Plc's shares. As a result, JOT Automation Group Plc's share capital may increase by up to 60,000 euros. Departing from the shareholders' preferential subscription rights, this right of option will be granted to close to all JOT Automation Group's employees as part of the employee encouragement and commitment system.

The number of rights of option is 3,000,000. Of these rights, 1,000,000 will be subscribed with the letter C, 1,000,000 with the letter D and 1,000,000 with the letter E. Subscription of shares will begin on February 28, 2001 and February 28, 2002 and February 28, 2003 and end on March 31, 2005. These rights will be granted without charges. The subscription price of the shares is 5.60 euros per share. The subscription price will be lowered after May 1, 2000 and before subscription by the amount of dividends granted per share. CEO and the members of the Board are not included in this program. This decision does not affect JOT Automation Group´s previous option programs.

Oulunsalo, April 26, 2000

JOT Automation Group Plc
The Board of Directors

Jorma Terentjeff
President, CEO