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SMT & Inspection | June 23, 2005

Elektrobit approves distribution of stock options

The Board of Directors of Finnish Elektrobit Group Plc has approved the distribution of stock options, issued by the Annual General Meeting of Shareholders on 17 March 2005, to Elektrobit Group Plc's Group managers and to its wholly-owned subsidiary, serving as a reserve company in the stock option plan.
The distributed stock options commit managers to long-term shareholding in Elektrobit Group. The objective of the new plan is to encourage participating managers to work with a long-term focus to increase shareholder value and to commit them further to their employer.

A total of 612.000 2005A- stock options were distributed to Group management. The rest, 288.000 stock options 2005A, 1.200.000 stock options 2005B, 1.200.000 stock options 2005C and 1.200.000 stock options 2005D were granted to Elektrobit Technologies Ltd, a wholly-owned subsidiary of Elektrobit Group Plc., to be further distributed to the present and future managers of the Group at a later date. In accordance with the terms and conditions of the stock options, the prerequisite for receiving 2005A- stock options was that the participating managers purchase a predetermined number of Elektrobit Group shares, as decided by the Board of Directors.

In accordance with the share ownership plan, associated with this stock option plan, the participating managers are committed to acquire further company's shares with a considerable portion of the future income from the distributed stock-options.

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