Uponor Board decides on a directed share issue, for the transfer of shares under the management incentive programme for 2007–2011

Uponor Corporation                Stock exchange release                    15 March 2012 18.42 EET

Uponor Board decides on a directed share issue, for the transfer of shares under the management incentive programme for 2007–2011

Based on the authorisation granted by the AGM earlier today, the Board resolved on a directed share issue without payment and decided to transfer 19,622 of the company’s own shares, held by the company, to current and former Executive Committee members, as specified in the rules of the Long-Term Incentive programme. The LTI programme was part of Uponor’s total management remuneration package, with the purpose of incentivising and motivating management and aligning the targets of management with shareholders.

The reward amount was based on the cumulative development of Uponor Corporation’s EBITA during 2007-2011. Consequently, one Matching Share was awarded for each Contribution Share that the participants acquired themselves. Further, the company shall defray the cash payment of taxes arising out of or in connection with awarding the Matching Shares.

The international management LTI programme, running from 2009 to 2011, did not award any shares.

Prior to this directed issue, Uponor held a total of 160,000 of its own shares, of which 140,378 remain.

 

Further information: 
Reetta Härkki, General Counsel, Tel. +358 20 129 2835

 

Uponor Corporation

Tarmo Anttila
Vice President, Communications
Tel. +358 20 129 2852

 

DISTRIBUTION:
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www.uponor.com

 

Uponor is a leading international provider of plumbing and indoor climate solutions for residential and commercial building markets across Europe and North America. In Northern Europe, Uponor is also a prominent supplier of infrastructure pipe systems. Uponor offers its customers solutions that are sustainable and safe and reliable to own and operate. The Group employs approx. 3,200 persons, in 30 countries. In 2011, Uponor's net sales totalled ca €800 million. Uponor Corporation is listed on NASDAQ OMX Helsinki in Finland. http://www.uponor.com.