Changes in Outotec's own shares
Outotec's Board of Directors has decided to issue Outotec shares held by the company for the payment of the free shares of Outotec's Employee Share Savings Plan from the 2014 savings period.
Outotec's Employee Share Savings Plan is offered for all employees globally in countries where there are no local legal, taxation or administrative restraints. Employees participating in the Plan save a proportion of their salary for purchasing Outotec shares. For the year 2014, Outotec offered one free share for each two acquired shares after a designated holding period of approximately three years. Approximately 1,270 Outotec employees are eligible for free shares from the 2014 saving period. Free shares are taxable income for the recipient and will be paid partly in Outotec's shares and partly in cash to cover taxes and tax-related payments. The exact amount of payable shares will be defined when the holding period of the Employee Share Savings Plan ends on May 15, 2017.
The estimated rewards paid in shares in total is maximum 190,000 shares.
source: Outotec
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