STOCKHOLM, Sweden, Aug. 17, 2005 (PRIMEZONE) -- Decision at the Extraordinary General Meeting on Aug. 17, 2005.
At the Annual General Meeting on April 18, 2005, a decision was made to implement a performance-related stock option program, according to which a total of 2,700,000 stock options should be allotted free of charge to approximately 20 managers in the group with a maximum of 100,000-300,000 stock options per individual depending on position.
At the Extraordinary General Meeting on Aug. 17, 2005, a decision was made to change the stock option program regarding the allotment structure and the possibility to early exercise in the event of a public offer to shareholders in the company. Following such changes the program comprises approximately 10 managers who will be allotted, free of charge, a maximum of 500,000-600,000 stock options per individual depending on position.
Each stock option gives the right to purchase one share in the company during the period May 1, 2007-March 1, 2008, at an exercise price of SEK 33.30. The right to exercise the stock options requires continued employment as well as a certain, by-the-Board-established, accumulated operating result before financial items and tax (EBIT) during the fiscal years 2005-2006. The right to exercise any stock options will require an accumulated EBIT for the period 2005-2006 approximately four times higher than EBIT for 2004. The right to exercise the maximum number of stock options will require further improvement of EBIT.
Trelleborg, Aug. 17, 2005
Pergo AB (publ)
Pergo is a leading flooring company with leading market positions, particularly in Europe and the U.S. Net sales amount to approximately SEK 2.8 billion, and the number of employees is around 800. Pergo developed laminate flooring at the end of the 1970s and launched the product in Europe during the 1980s. The company started sales in the U.S. in 1994 and later also in Asia 1995 and Latin America 1997. The company's products have been marketed under the PERGO(R) brand name since 1989. The company is listed on the Stockholm Stock Exchange's O-list. For further information about Pergo, please visit our website www.pergo.com.
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