HELSINKI, FINLAND--(Marketwire - Dec 19, 2012) - Metso Corporation's stock exchange releaseon December 19, 2012 at 1:45 p.m. local time
Metso's Board of Directors has decided to continue the share-basedincentiveplan for the Group's senior management approved in December 2011. The aimof theplan is to combine the objectives of shareholders and management toincrease thevalue of the company, commit management to the company, and offer managersacompetitive reward plan based on a long-term shareholding in Metso.
The plan approved in 2011 includes three performance periods, equivalent tothe2012, 2013, and 2014 calendar years. The Board of Directors is responsibleforsetting the performance criteria and targets to be used at the beginning ofperformance period. The plan will cover around 100 Metso managers duringthe2013 performance period.
The potential reward generated by the plan for the 2013 performance periodwillbe based on the net sales growth of the services business, Metso's returnoncapital employed (ROCE) before taxes, and earnings per share (EPS). Paymentwillbe made at the end of an approximately two-year vesting period, in 2016,partlyin company shares and partly in cash. The proportion paid in cash isintended tocover the taxes and tax-related costs arising from payment incurred byparticipants. Should a participant's employment or service end for reasonsrelated to the participant concerned before payment falls due, no paymentwillbe made. The reward for each performance period may not exceed 120% of aparticipant's annual total base salary.
The potential rewards to be paid on the basis of the 2013 performanceperiodwill correspond to a maximum total of approximately 460,000 Metso shares.Finalallocations and the maximum total number of shares will be decided inJanuary2013. The Metso shares to be transferred as part of possible rewards willbeobtained in public trading and, as a result, the incentive plan will nothave adiluting effect on Metso's share value.
Metso is a global supplier of technology and services to customers in theprocess industries, including mining, construction, pulp and paper, power,andoil and gas. Our 30,000 professionals based in over 50 countries deliversustainability and profitability to customers worldwide. Expect results.
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Source: Metso Corporation via Thomson Reuters ONE
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