LAROX CORPORATION COMPANY ANNOUNCEMENT 29.12.2009 11:00 am
The Board of Directors of Larox Corporation decided to terminate the key
personnel incentive plan
Following the share transaction executed on December 21, 2009 between Outotec
Oyj and the main shareholders of Larox the authority in Larox Corporation has
been transferred to Outotec Oyj. Outotec has acquired 6,643,054 Larox
Corporation shares. The shareholding corresponds to a total of 94.40% of all
votes of the Company's shares and 70.48% of all shares of the Company. Outotec
Oyj has made a mandatory tender offer for all of the Company's series A and B
shares.
Due to the above-mentioned changes focused on the Larox Corporation ownership
structure and Group structure, and to the Outotec Oyj's mandatory tender offer
the Board of Directors of Larox Corporation has today decided to change the
duration of the key personnel Share Ownership Plan so that the changed Plan will
concern years 2007-2009 instead of formerly decided period 2007-2010.
In addition, the Board of Directors of Larox Corporation has decided that the
restriction period and transfer restrictions of the shares paid as reward for
the period of 2007-2008 will terminate and the shares will be freely
transferable, and that the company does not pay any reward for the measuring
period 2007-2009 and that the company terminates the Share Ownership Plan as of
January 1, 2010.
Larox Corporation
Timo Vartiainen
Chairman of the Board
For further information
Timo Vartiainen, Chairman of the Board
Phone +358 400 552 237
timo.vartiainen@larox.com
Distribution NASDAQ OMX Helsinki Ltd., Central Media
Larox develops, designs and manufactures industrial filters and is a leading
technology company in its field. Larox is a full service solution provider in
filtration for separating solids from liquids. It supplies comprehensive
aftermarket services throughout the lifespan of the Larox solution. Companies
world-wide in mining and metallurgy, chemical processing and related industries
benefit from the Larox technologies. Larox operates in over 40 countries and
has about 600 employees. Larox has production facilities in Finland and in
China, and the Group is headquartered in Lappeenranta, Finland. Net sales in
2008 totaled 208.0 million euros, of which more than 93 % were generated by
exports and the company's foreign operations.
The Board of Directors of Larox Corporation decided to terminate the key personnel incentive plan
| Source: Larox Oyj