BERTRANGE, Luxembourg, March 22, 2005 (PRIMEZONE) -- The Board of Directors of Metro International S.A. ("Metro"), the international newspaper group, today announced that it has approved a second annual allocation of long-term incentive awards for the group's executive management under the group's existing long-term incentive plan.
The awards provide for the granting of 826,000 new Metro A share options and 826,000 new Metro B share options to leading executives of the company. In addition, the Board of Directors has also approved a conditional allocation of 826,000 new class A shares and 826,000 new class B Shares to the same executives. These vest at the end of each of the three years following the award on the achievement of predetermined goals for the relevant Metro operation and the Group. The options, likewise, are exercisable in equal amounts after one, two and three years from the date of grant. The options are priced at SEK 17.80 per A Share and SEK 18.26 per B Share, equivalent to a 10% premium on the average closing trading price of each class of share on the Stockholm Stock Exchange over the 5-day period ending February 11, 2005. The allocation of options and restricted stock amounts to 0.6% of the total outstanding number of Metro shares. The above will be tabled for approval at the May 31, 2005 Annual General Meeting of shareholders.
For further information, please visit www.metro.lu, email info@metro.lu or contact: Pelle Tornberg, President & CEO tel: +44 (0) 20 7016 1300 Henrik Persson, Corporate Communications tel: +46 (0) 8 562 000 87
Metro is the largest and fastest growing international newspaper in the world. 52 daily Metro editions are published in 75 major cities in 17 countries in 16 languages across Europe, North & South America and Asia. Metro has a unique global reach - attracting a young, active, well-educated audience of more than 15 million daily readers and over 33 million weekly readers. Metro has an equal number of male and female readers and 70% are under the age of 45. Metro's advertising sales have grown at a compound annual rate of 47% since the launch of the first edition in 1995.
Metro International S.A. 'A' and 'B' shares are listed on the Stockholmsborsen 'O-List' under the symbols MTROA and MTROB.
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