23 maart, 2006
10:52 CET
Transfer of Rautaruukki's own shares - share bonus scheme 2004
Rautaruukki Oyj Stock Exchange Release 23 March 2006 at 11.00
Rautaruukki's Board of Directors has today approved the maximum reward for the
first earning period of 2005 of the Group's share bonus scheme 2004. The Board
has decided to transfer 291 000 K-shares held by the company gratuitously to the
key personnel corresponding the part of the total reward to be paid as shares.
40% of the total reward of the share bonus scheme shall be paid in shares and 60%
in cash to cover taxes. For the earning period of 2005 there are 56 participants
who belong to company management or key personnel. The transfer date of the
shares is 23.3.2006.
In December 2004 the Board launched a share bonus scheme as part of the Group's
remuneration and commitment programme for the key personnel. The share ownership
system consists of three separate one year earning periods which are 2005, 2006
and 2007. The payment of the reward is based on the attainment of the established
targets which are measured with the Earnings per Share (EPS) and the Return on
Capital Employed (ROCE).
Under the terms and conditions of the share bonus scheme the shares received
under the plan must not be assigned until two years have passed from the end of
the earning period. After this the President and CEO and a member of the
Management Group must, however, hold shares worth their annual gross salary as
long as the service as the President and CEO and the membership in the Management
Group continues.
After the transfer the company holds 2 301 697 of company's own K-shares.
ADDITIONAL INFORMATION
Tiina Bäckman, General Counsel, tel. +358 20 592 9068
Rautaruukki Corporation
Taina Kyllönen
VP, Corporate Communications
Ruukki supplies metal-based components, systems and integrated systems to the
construction and mechanical engineering industries. The company has a wide
selection of metal products and services. Ruukki has operations in 23 countries
and employs 12,000 people. Net sales in 2005 totalled EUR 3.7 billion. The
company's share is quoted on the Helsinki Exchanges (Rautaruukki Corporation:
RTRKS). The Corporation has used the marketing name Ruukki since 2004.
DISTRIBUTION
Helsinki Exchanges
Principal Media
www.ruukki.com