July 26, 2006
09:26 CET
Rautaruukki board approves the remunerations of the group's share bonus scheme for 2003 - 2005
Rautaruukki Corporation Stock Exchange Release 26 July 2006 at 9.50
Rautaruukki's Board of Directors has on 25 July 2006 approved the maximum
remunerations for the fourth incentive period of the Group's share bonus scheme.
As the share part of the total remuneration 519.316 K-series shares held by the
company shall be transferred to the persons. According to the share bonus scheme
40 per cent of the total remuneration will be paid in shares and 60 per cent in
cash for taxes. The share bonus scheme for the period 2003 - 2005 covers 88
persons in the management or other key positions. The shares shall be transferred
on 28 July 2006.
In February 2000, Rautaruukki launched a share bonus scheme as part of the
Group's incentive program for key personnel. The system consists of three-year
incentive periods; the first period started on 1 January 2000 after which the
incentive periods have started at the beginning of each year.
Under the terms of the share bonus scheme, the remuneration is determined by
comparing the company's success with others in its branch of industry. The
maximum remuneration will be paid only if Rautaruukki's return on assets ranks
among the top quarter in a comparison group. The comparison group comprises of 10
companies operating in the same branch of industry, primarily in Europe. 60 per
cent of the remuneration will be paid in cash and 40 per cent in shares. Under
the terms of the share bonus scheme, the shares received under the scheme must
not be assigned until two years have passed from the end of the incentive period.
Further information:
Tiina Bäckman, Corporate General Counsel
Tel. +358 20 592 9068
Rautaruukki Corporation
Taina Kyllönen
VP, Corporate Communications
Rautaruukki 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. The company 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
remunerations for the fourth incentive period of the Group's share bonus scheme.
As the share part of the total remuneration 519.316 K-series shares held by the
company shall be transferred to the persons. According to the share bonus scheme
40 per cent of the total remuneration will be paid in shares and 60 per cent in
cash for taxes. The share bonus scheme for the period 2003 - 2005 covers 88
persons in the management or other key positions. The shares shall be transferred
on 28 July 2006.
In February 2000, Rautaruukki launched a share bonus scheme as part of the
Group's incentive program for key personnel. The system consists of three-year
incentive periods; the first period started on 1 January 2000 after which the
incentive periods have started at the beginning of each year.
Under the terms of the share bonus scheme, the remuneration is determined by
comparing the company's success with others in its branch of industry. The
maximum remuneration will be paid only if Rautaruukki's return on assets ranks
among the top quarter in a comparison group. The comparison group comprises of 10
companies operating in the same branch of industry, primarily in Europe. 60 per
cent of the remuneration will be paid in cash and 40 per cent in shares. Under
the terms of the share bonus scheme, the shares received under the scheme must
not be assigned until two years have passed from the end of the incentive period.
Further information:
Tiina Bäckman, Corporate General Counsel
Tel. +358 20 592 9068
Rautaruukki Corporation
Taina Kyllönen
VP, Corporate Communications
Rautaruukki 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. The company 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