The Board of Directors of Metsä Board Corporation ("the Company") has decided on a directed free share issue to pay the rewards under the Company’s long-term incentive scheme for the earnings period 2020–2022.
The directed free share issue is based on the authorisation granted to the Board of Directors by the Annual General Meeting of Metsä Board Corporation on 24 March 2022.
In a directed free share issue, a maximum of 500,000 series B shares held by the Company may be issued to 25 key employees included in the incentive scheme in accordance with the terms and conditions of the scheme. No new shares will be issued under the scheme and the scheme will therefore not have a dilutive effect. Prior to the directed free share issue, the Company holds a total of 1,000,000 series B shares as treasury shares, of which at least 500,000 will remain in the possession of the Company after the directed free share issue.
The exact number of series B shares to be issued will be confirmed by 14 March 2023 at the latest and will be announced in a separate stock exchange release in connection with assigning the shares by 15 March 2023 at the latest.
Further information on Metsä Board’s remuneration and incentive schemes is available at: https://www.metsagroup.com/metsaboard/investors/corporate-governance/compensation/
METSÄ BOARD CORPORATION