RAMIRENT PLC COMPANY RELEASE 11.8.2010 AT 8:15 a.m.
NEW INCENTIVE PROGRAM FOR MANAGEMENT IN RAMIRENT APPROVED BY THE BOARD
The Board of Directors of Ramirent Plc has approved a new share-based incentive
program for managers in the Group. The aim of the new program is to combine the
objectives of the shareholders and the management in order to increase the value
of the Company as well as to commit the managers to the Company, and to offer
them competitive rewards based on the financial performance of the Company and
the Company shares. The new program is a Performance Share Program targeted at
approximately 50 managers for the earning period 2010—2012. The members of the
Group Management Team are included in the target group of the new incentive
program.
The new Performance Share Program includes one earning period, calendar years
2010—2012. The potential reward from the program for the earning period
2010—2012 will be based on the Group's Total Shareholder Return (TSR), on the
Group's average Return on Capital Employed (ROCE) and on the Group's cumulative
Earnings per Share (EPS).
The potential reward from the earning period 2010—2012 will in 2013 be paid
partly in Company shares and partly in cash. The cash payment is intended to
cover the personal taxes and tax-related costs arising from the reward. No
reward will be paid to a manager, if his or her employment or service with the
Group ends before the reward payment.
The maximum reward to be paid on the basis of the earning period 2010—2012 will
correspond to the value of up to 390,000 Ramirent Plc shares (including also the
proportion to be paid in cash).
The participants must hold the shares received on the basis of the new incentive
program during their employment or service with the Group as long as the value
of the shares held by the participant in total is below the person´s six months
gross salary.
Vantaa 11.8.2010
RAMIRENT PLC
Magnus Rosén
President and CEO
Further information: Magnus Rosén, President and CEO, Tel. +358 20 750 2845
DISTRIBUTION:
NASDAQ OMX Helsinki
The main media
www.ramirent.com
Ramirent is a leading equipment rental group delivering Dynamic Rental
Solutions™ that simplify business. We serve a broad range of customers,
including construction and process industries, shipyards, the public sector and
households. In 2009, Group sales totalled EUR 503 million. The Group has 3,000
employees at some 350 locations in 13 countries in Northern, Central and Eastern
Europe. Ramirent is listed on the NASDAQ OMX Helsinki Ltd.
