COPENHAGEN, Denmark, Sept. 12, 2014 (GLOBE NEWSWIRE) --
Conditional share programme
The Board of Directors has passed a resolution to grant conditional shares in accordance with the guidelines for incentive pay adopted at the Company's annual general meeting on 12 March 2014. The scheme comprises a total of 8,875 conditional shares, including 3,525 shares to the members of the Board of Management and 5,350 shares to a group of key employees. The market value of the conditional shares is approximately DKK 6.5 million, calculated on the basis of an average of the closing prices of the Company's shares on NASDAQ OMX Copenhagen during the period 4 - 10 September 2014 (both days included).
Conditional shares will be available in September 2017, three years following the date of grant, provided that ALK achieves the financial targets for vesting and that the employment relationship with the ALK Group has not been terminated by the Company on objective grounds or terminated during the three-year period from the date of grant in 2014.
Under the international financial reporting standards (IFRS), the incentive plan will be recognised in the income statement in the respective functional areas over the vesting period.
The grant of conditional shares does not change the Company's financial forecast.
No conditional shares have been granted to members of the Board of Directors.
For further information please contact:
Steen Riisgaard, Chairman of the Board of Directors, tel +45 4574 7576