STOCKHOLM, Sweden, March 16, 2005 (PRIMEZONE) -- Pergo: The Board of Directors have passed a resolution to propose to the Annual General Meeting on the 18th of April 2005 the implementation of a performance related personnel option scheme.
It is proposed that a total of 2.700.000 personnel options are to be issued to approximately 20 employees in the group management. Each personnel option shall entitle to an acquisition of a share in the company during the period the 1st of May 2007 to the 1st of March 2008 to an exercise price corresponding to 130 per cent of the average market value during a period in connection with the point of allotment.
Allotment of personnel options shall be made with a maximum of 100,000 -- 300,000 options per person depending on the employment position.
The right to acquire options is conditional upon a continuous employment as well as the achievement of a certain total profit/loss before financial items and taxes (EBIT) during the financial years 2005 -- 2006.
Promissory notes with options for subscription for 2.700.000 new shares shall be issued to wholly owned subsidiaries in order to secure the company's commitments according to the personnel option scheme.
A total utilization of the proposed options will lead to a dilution of approximately 4,8 per cent of the share capital and votes.
Additional information will be provided in the invitation to the Annual General Meeting, which will be published on the 18th of March 2005 as well as in the Board of Director's complete proposal for resolution, which will be available at the company as from the 4th of April 2005.
Trelleborg March 16, 2005 Pergo AB Corporate Communications
For further information, please contact:
Bertil Villard, Chairman of the Board of Pergo AB, phone: +46 70-714 31 03
Pergo is a leading flooring company with strong market positions, particularly in Europe and the U.S. Net sales amounted to MSEK 2,780 in full-year 2004 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 US in 1994 and later also in Asia and Latin America. 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 homepage www.pergo.com.
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