Citycon Oyj issues 36,713 new shares as a part of the company’s long-term share-based incentive plan 2007–2010. The shares are issued to 14 Citycon Group key employees as a directed share issue without payment.
Citycon Oyj’s Board of Directors established on 26 April 2007 a share-based incentive plan for the Group’s key employees and decided on 9 February 2010 on the prolongation of said plan with one more year to cover the financial year 2010. Citycon’s Board of Directors confirmed the share incentives that shall be granted for the last earning period 1 January–31 December 2010 in July 2011. Today, the Board of Directors has decided to grant all share incentives yet to be paid under the plan meaning the last installment of the incentives for the incentive period 2009 and the second and third, i.e. the last two thirds of the share incentives for the earning period 2010.
On 21 March 2012, Citycon Oyj’s Annual General Meeting authorised the Board of Directors to issue new shares through a share issue, which can also be a directed issue, either against or without payment.
The Board of Directors of the company has on 29 May 2012 granted to the persons participating in the incentive plan the share incentives in accordance with the terms and conditions of the incentive plan by means of a directed share issue without payment comprising 36,713 new shares in the company.
The new shares are expected to be registered with the Trade Register on 31 May 2012 and are expected to be admitted for public trading on the NASDAQ OMX Helsinki on 1 June 2012. Following the registration, the number of Citycon shares will increase to 277,848,010. Under the decision by the Finnish Financial Supervisory Authority dated 25 May 2012, the company has been granted an exemption from the duty to publish a listing prospectus regarding the issued shares. The directed share issue without payment will be executed in full as there are no counter-performances related to the issue.
The shares issued under the share issue are of the same class as the other shares in the company. The shares issued by the company will entitle to shareholders’ rights once entered in the Trade Register. The share issue does not change the share capital of the company.
Helsinki, 29 May 2012
CITYCON OYJ
Board of Directors
For further information, please contact:
Eero Sihvonen, Executive Vice President and CFO
Tel. +358 20 766 4459 or mobile +358 50 557 9137
eero.sihvonen@citycon.fi
Distribution:
NASDAQ OMX Helsinki
Major media
www.citycon.com