Metso Corporation's stock exchange release on October 1, 2010 at 2:30 p.m. local time
The Board of Directors of Metso Corporation has approved a new, share-based incentive plan for the Metso Group management (Metso Share Ownership Plan 2011-2013). The plan is continuation of the 2008 approved program targeting to align the goals of the company's shareholders and key executives in Metso in order to enhance the value of the company. It also aims to ensure the commitment of key management and to offer them a competitive, ownership-based reward scheme.
The plan includes one three-year earning period, which will begin on January 1, 2011 and will end on December 31, 2013. The plan is targeted to approximately 100 key managers.
Participation in the new plan and receipt of the potential reward requires that the individual invests in Metso shares at the beginning of the earning period. The potential reward from the plan is based on Metso's Total Shareholder Return (TSR) and on the Earnings per Share (EPS). The maximum share reward is capped to each individual's annual salary multiplied by one-and-a-half (x 1.5).
The amount earned in rewards will be determined on the basis of the achievement of targets after the financial statements have been prepared in the spring of 2014. Any rewards will be paid to those covered by the scheme in the first half of 2014. The reward will be paid in Metso shares. Any shares earned through the incentive plan must be held for a minimum of one year after the date of the reward payment.
The rewards to be paid on the basis of the plan will correspond to a maximum total of approximately 400,000 Metso Corporation shares. Final allocations and maximum total number of shares will be decided in December 2010. The shares to be transferred in possible rewards are Metso shares obtained in public trading, and therefore the incentive plan will have no diluting effect on the share value.
Metso is a global supplier of sustainable technology and services for mining, construction, power generation, automation, recycling and the pulp and paper industries. We have about 27,000 employees in more than 50 countries. www.metso.com
Further information for the press, please contact:
Merja Kamppari, Senior Vice President, Human Resource Management, Metso Corporation, tel. +358 204 84 3003
Further information for investors, please contact:
Johanna Henttonen, Vice President, Investor Relations, Metso Corporation, tel. +358 20 484 3253
Metso Corporation
Olli Vaartimo
CFO
Johanna Henttonen
Vice President, Investor Relations
Distribution:
NASDAQ OMX Helsinki Ltd
Media
www.metso.com