NEW INCENTIVE PROGRAM FOR MANAGEMENT IN RAMIRENT APPROVED BY THE BOARD

RAMIRENT PLC          COMPANY RELEASE   16.2.2011   AT 9:00 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 60 managers for the earning period 2011—2013. 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 2011—2013. The potential reward from the program for the earning period 2011—2013 will be based on the Group’s Total Shareholder Return (TSR), on the Group’s average Return on Invested Capital (ROI) and on the Group’s cumulative Earnings per Share (EPS).

The potential reward from the earning period 2011—2013 will in 2014 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 2011—2013 will correspond to the value of up to 287,000 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 16.2.2011

 

RAMIRENT PLC
Magnus Rosén
President and CEO 

Further information: Magnus Rosén, President and CEO, Tel. +358 20 750 2845

 

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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 2010, Group sales totalled EUR 531 million. The Group has 3,000 employees at some 378 locations in 13 countries in Northern, Central and Eastern Europe. Ramirent is listed on the NASDAQ OMX Helsinki Ltd.