Aspocomp Group Plc
STOCK OPTIONS TO PRESIDENT AND CEO OF ASPOCOMP GROUP PLC
Espoo, Suomi, 2014-05-15 07:30 CEST (GLOBE NEWSWIRE) —
Aspocomp Group Plc, Company Announcement, May 15, 2014 at 8:30 a.m.
The Board of Directors of Aspocomp Group Plc has resolved to issue in total a maximum of 390,000 Stock Options to the Company’s President and CEO Mikko Montonen in accordance with the terms and conditions attached hereto. The issue, which has been made in deviation from the shareholders’ pre-emptive subscription rights, is based on the authorization by the Annual General Meeting held on April 23, 2013. The Stock Options are issued free of charge.
Each Stock Option shall entitle its holder to subscribe for one new share in Aspocomp Group Plc. 130,000 of the issued Stock Options will be marked with letter “A”, 130,000 with letter “B” and 130,000 with letter “C”. The Stock Options shall be subscribed for on May 31, 2014 at the latest.
The share subscription periods for the Stock Options are:
Stock Options A: May 1, 2016 – April 30, 2018
Stock Options B: May 1, 2017 – April 30, 2019
Stock Options C: May 1, 2018 – April 30, 2020.
The share subscription price with the Stock Options shall be determined as follows:
With Stock Options “A” the share subscription price shall be the trade volume weighted average quotation of Aspocomp Group Oyj’s share on NASDAQ OMX Helsinki Oy during March 1 – March 31, 2014 (EUR 0.99)
With Stock Options “B” the share subscription price shall be the trade volume weighted average quotation of Aspocomp Group Oyj’s share on NASDAQ OMX Helsinki Oy during March 1 – March 31, 2015
With Stock Options C the share subscription price shall be the trade volume weighted average quotation of Aspocomp Group Oyj’s share on NASDAQ OMX Helsinki Oy during March 1 – March 31, 2016.
There are weighty financial reasons referred to in Chapter 10, paragraph 1 of the Limited Liability Companies Act for the issuance of the Stock Options, because the Stock Options are intended to form be a part of the President and CEO’s compensation and incentive scheme. The shares subscribed for with the Stock Options equal in total to a maximum of 6.09 per cent of the shares in the Company.
For further information, please contact Päivi Marttila, Chairman of the Board of Directors, tel. +358 400 285 358.
ASPOCOMP GROUP PLC
Chairman of the Board of Directors
Aspocomp – PCB technology company
Aspocomp develops and sells PCB manufacturing services. Our seasoned professionals help customers to create the most optimal PCB designs, both in terms of performance and cost. Our trimmed production lines produce the most challenging designs with the shortest lead-times in the industry. Our volume supply services offer cost-efficient access to all PCB technologies.
A printed circuit board (PCB) is the principal interconnection method in electronic devices. PCBs are used for electrical interconnection and as a component assembly platform in most electronic applications. Aspocomp’s PCBs are used in many applications, such as telecommunication networks and devices, automotive electronics, security and medical systems, chipset development and industrial automation.