Catella issues options to senior executives of NOTE
In consultation with NOTE's Board of Directors, NOTE's principal owner Catella has decided to issue call options to senior executives of NOTE under a new incentive programme. The programme is based on a maximum of 500,000 NOTE shares held by Catella funds, and includes over 50 senior executives of NOTE. The options have a term of just over three years until August 2011. The call options will be valued and sold on market terms.
In conjunction with NOTE's Interim Report for Q3, a proposed incentive programme based on warrants corresponding to 500,000 shares was presented, which could result in maximum dilution of 5%. The new programme, based on Catella's shareholding, is for the participants equivalent in its construction but does not entail any dilution of the number of shares. Due to the changed structure of the incentive program, the planned Extraordinary General Meeting in Stockholm on 29 November has been cancelled.
''We are major shareholders in NOTE and follow the company's progress closely. We have a positive view of the growth opportunities in outsourcing and strong confidence in NOTE's management and strategy. Accordingly, it feels natural to contribute to NOTE's development in this way," says Ulf Strömsten, Head of Ownership at
Catella Kapitalförvaltning.
''NOTE is a company in strong progress. With this autumn's acquisitions and establishments in China and Poland, we've laid the foundations for a long-term, aggressive initiative within the framework of our NearsourcingTM strategy. It's very positive that Catella supports our strategy and is actively contributing to launching an incentive programme for our senior executives," commented Arne Forslund, President and CEO of NOTE.
For further information, please contact:
Arne Forslund, President and CEO, tel. 08-568 990 07, 070-547 74 77
Henrik Nygren, Chief Financial Officer, tel. 08-568 990 03, 070-977 06 86
Ulf Strömsten, Owner Manager Catella Kapitalförvaltning, tel. 08-614 25 77