HELSINKI, FINLAND--(Marketwire - Dec 19, 2012) - Metso Corporation's stock exchange release
on December 19, 2012 at 1:45 p.m. local time
Metso's Board of Directors has decided to continue the share-based
plan for the Group's senior management approved in December 2011. The aim
plan is to combine the objectives of shareholders and management to
value of the company, commit management to the company, and offer managers
competitive reward plan based on a long-term shareholding in Metso.
The plan approved in 2011 includes three performance periods, equivalent to
2012, 2013, and 2014 calendar years. The Board of Directors is responsible
setting the performance criteria and targets to be used at the beginning of
performance period. The plan will cover around 100 Metso managers during
2013 performance period.
The potential reward generated by the plan for the 2013 performance period
be based on the net sales growth of the services business, Metso's return
capital employed (ROCE) before taxes, and earnings per share (EPS). Payment
be made at the end of an approximately two-year vesting period, in 2016,
in company shares and partly in cash. The proportion paid in cash is
cover the taxes and tax-related costs arising from payment incurred by
participants. Should a participant's employment or service end for reasons
related to the participant concerned before payment falls due, no payment
be made. The reward for each performance period may not exceed 120% of a
participant's annual total base salary.
The potential rewards to be paid on the basis of the 2013 performance
will correspond to a maximum total of approximately 460,000 Metso shares.
allocations and the maximum total number of shares will be decided in
2013. The Metso shares to be transferred as part of possible rewards will
obtained in public trading and, as a result, the incentive plan will not
diluting effect on Metso's share value.
Metso is a global supplier of technology and services to customers in the
process industries, including mining, construction, pulp and paper, power,
oil and gas. Our 30,000 professionals based in over 50 countries deliver
sustainability and profitability to customers worldwide. Expect results.
www.metso.com , www.twitter.com/metsogroup
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Source: Metso Corporation via Thomson Reuters ONE