Nurminen Logistics Plc Stock Exchange Release 7 March 2011 at 4.15 p.m.
The Board of Directors of Nurminen Logistics Plc has approved a new share-based incentive plan for the Group key personnel. The aim of the plan is to combine the objectives of the shareholders and the key personnel in order to increase the value of the company, to commit the key personnel to the company, and to offer them competitive reward plan based on holding the company shares.
The plan includes one earning period, calendar years 2011–2012. The Board of Directors decides on the earnings criteria and their targets. The earnings criteria of the earning period 2011–2012 are the Nurminen Logistics Group´s net sales and operating profit.
The potential reward from the earning period 2011–2012 will be paid partly in the company’s shares and partly in cash in 2013. The proportion to be paid in cash is intended to cover taxes and tax-related costs arising from the reward to the key personnel. The shares cannot be transferred during a one-year restriction period. If a key person’s employment or service ends during the restriction period, he or she must gratuitously return the shares given as reward to the company. Approximately 15 people, members of the Executive Board included, belong to the target group of the plan.
The net rewards to be paid on the basis of the plan equal to a maximum total of 300,000 Nurminen Logistics Plc shares.
NURMINEN LOGISTICS PLC
Antti Sallila
Acting CEO
Further information:
Mr Antti Sallila, Acting CEO
Tel. +358 10 545 2598
DISTRIBUTION
NASDAQ OMX Helsinki
Major Media
www.nurminenlogistics.com
Nurminen Logistics Plc
Nurminen Logistics provides high-quality logistics services, such as railway transports, terminal services, forwarding and special and heavy transports. The company has collected logistics know-how from three centuries, starting in 1886. Nurminen Logistics' main market areas are Finland, the Baltic Sea region, Russia and other CIS countries. The company’s share is listed on NASDAQ OMX Helsinki.