The Board of Directors of Elisa has resolved, by authorization of the Annual General Meeting of Shareholders of 19 March 2007, that stock options be issued to Elisa’s and its subsidiaries’ key personnel and to a wholly owned subsidiary of Elisa.
The option program was for 150-200 key employees but excludes employees who belong to the top management incentive share based remuneration program adapted in 2006. Same person could not belong both to the option program and to the incentive share based remuneration program.
The stock options entitled to subscribe for a maximum total of 2,550,000 new shares or existing shares held by Elisa. The stock options were divided into three series: 2007A, 2007B and 2007C, all of which entitle to 850,000 shares. The detailed terns and conditions of this stock option scheme are here. The stock options issued constituted a maximum of 1.5 per cent of Elisa’s shares and voting rights.
Elisa’s 2007C stock options rights program has ended. With stock options were subscribed total of 1,197,074 shares.
Elisa 2007A Stock options
|Original share price determination, €||Price at the end, €||Sub-scription
|A*||477,850||12,375||11/ 2007; 20.84||15.72||Matured|
|C*||614,000||603 700||11/2009; 13.99||8.67||Matured|
*A is distributed, listed and matured; B is distributed, listed and matured; C is distributed, listed and matured.