01.03.2018
Danish Financial Supervisory Authority
Århusgade 110
DK-2100 Copenhagen Ø
Company Announcement No. 3-2018:
The Board of Directors of FLSmidth & Co. A/S has today allocated performance shares to the members of the Executive Management and key staff (158 persons in total) as part of the Group's long-term incentive programme.
The maximum number of performance shares allocated is 121,013, of which 25,674 pertain to members of the Executive Management. The vesting period is three years, and vesting will depend on stretched financial targets being achieved. The applicable financial targets are EBITA margin and net working capital ratio, calculated at three-year-averages.
The cost of the programme is DKK 46.9 million assuming the performance shares vest in full, based on the average closing share price from 8-14 February 2018 (the first five trading days after publication of the Annual Report).
An additional pool of 8,695 performance shares will be available later in the year for the onboarding of key people. The cost of the additional pool is DKK 3.4 million assuming full allocation and full vesting.
The primary purpose of the programme is to retain key staff and to align the interests of shareholders and participants in the incentive programme by rewarding performance in accordance with the strategy and the long-term financial targets.
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Contact Investor Relations:
Pernille Friis Andersen, +4536181887, pefa@flsmidth.com
Nicolai Mauritzen, +4536181851, nicm@flsmidth.com
Contact Media Relations:
Sofie Karen Lindberg, +4530931877, skl@flsmidth.com
FLSmidth delivers sustainable productivity to the global mining and cement industries. As the market-leading supplier of engineering, equipment and service solutions, FLSmidth improves performance, drives down costs, and reduces the environmental impact of operations. Present in more than 50 countries and headquartered in Copenhagen, Denmark, the Group and its 11,700 employees generated revenue of DKK 18 billion in 2017. www.flsmidth.com