Helsinki, Finland, 2013-06-05 12:00 CEST (GLOBE NEWSWIRE) --
SSH COMMUNICATIONS SECURITY CORPORATION COMPANY ANNOUNCEMENT JUNE 5, 2013 AT 13:00 P.M.
SSH COMMUNICATIONS SECURITY CORPORATION HAS DECIDED ON A NEW STOCK OPTION PLAN
The Board of Directors of SSH Communications Security Corporation has decided to launch a new stock option plan, according to which stock options will be issued as a part of the company’s incentive program to the company’s and its subsidiaries’ key persons who are working for the company’s projects. The purpose of the stock options is to commit and encourage personnel to work on a long-term basis to increase the company’s shareholder value.
The maximum total number of stock options issued is 1 700 000, and they entitle their owners to subscribe for a maximum total of 1 700 000 new shares in the company or existing shares held by the company. The option rights will be given free of charge.
The number of shares that may be subscribed by exercising stock options now issued corresponds to a maximum of 5,5 per cent of the shares and votes in the company, after the potential share subscription, if new shares are issued in the share subscription.
The stock options are divided into several categories with different subscription periods and prices as follows:
|Code||Number of options||Subscription price, €||Share subscription period|
|1/2013E||21 000||1.66€||15.2.2016 -1.9.2018|
According to the terms and conditions of the stock option plan dividends, returned equity and certain other amounts will be deducted from the subscription price.
The Board of Directors decided on the new stock option plan on the basis of the authorization granted by the company’s Annual General Meeting held on 20 March 2013.
The terms and conditions of the stock option plan 2013 are attached to this release.
SSH COMMUNICATIONS SECURITY CORPORATION
Board of Directors
Jyrki Lalla, CFO, Tel. +358 45 3404641
NASDAQ OMX Helsinki Oy
SSH Communications Security
Founded in 1995, SSH Communications Security is the company that invented the Secure Shell protocol - the gold standard protocol for data-in-transit security solutions. Today, over 3,000 customers across the globe - including seven of the Fortune 10 - trust our Information Assurance Platform to secure the path to their information assets. We enable and enhance business for thousands of customers in multiple industries in the private and public sectors around the world. SSH Communications Security operates in the Americas, Europe, and APAC regions, with headquarters located in Helsinki, Finland. The company shares (SSH1V) are quoted on the NASDAQ OMX Helsinki.