Atlas Copco Launches Extended Option Plan.Business Editors STOCKHOLM--(BUSINESS WIRE)--April 27, 2000 At the board meeting today, the Board of Directors of Atlas Copco Atlas Copco is a Swedish industrial company that was founded in 1873. It manufactures industrial tooling and equipment. The Atlas Copco Group, founded already in 1873, is a global industrial group of companies headquartered in Stockholm, Sweden. AB decided to implement a worldwide stock option plan aimed at key employees in the Group. This program replaces the present option plan that was launched 1997. The purpose of the option plan is to attract, retain and motivate key employees by having a long-term incentive plan that provides benefits linked to share-price development. In 2000, the extended plan includes 200 employees in the Atlas Copco Group. The stock options granted will give entitlement An individual's right to receive a value or benefit provided by law. Commonly recognized entitlements are benefits, such as those provided by Social Security or Workers' Compensation. to acquire Atlas Copco A shares at an exercise price corresponding to 110 % of the average share-price over a reference period close to date of grant. They will be vested over a period of three years, at the rate of 1/3 per year, and will have a term of six years. The stock options are granted free of charge and are not transferable. If employment is terminated, the options expire. Vested options are generally exercisable one month after termination of employment "Fired" and "Firing" redirect here. For other uses, see Fired (disambiguation) and Firing (disambiguation). “Gross misconduct” redirects here. For the ice hockey term, see Penalty (ice hockey). . Since the stock options offer entitlement to acquire existing shares, there will be no dilution Dilution A reduction in earnings per share of common stock that occurs through the issuance of additional shares or the conversion of convertible securities. Notes: Adding to the number of shares outstanding reduces the value of holdings of existing shareholders. for Atlas Copco shareholders. A total of approximately 770,000 shares will be required to cover the options to be granted in 2000, including the social security charges that will be payable upon exercise of the options. The cost of the stock option program is hedged. Atlas Copco is an international industrial Group with its head office in Stockholm, Sweden. In 1999, the Group had revenues of SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 36 billion, with 97 percent of revenues outside Sweden, and over 26,000 employees. Atlas Copco companies develop, manufacture, and market electric and pneumatic tools pneumatic tool (n  măt`ĭk), instrument activated by air pressure. Pneumatic tools are designed around three basic devices: the air cylinder, the vane motor, and the sprayer. , compressed air compressed air, air whose volume has been decreased by the application of pressure. Air is compressed by various devices, including the simple hand pump and the reciprocating, rotary, centrifugal, and axial-flow compressors. equipment and generators,
construction and mining equipment, assembly systems, and offer related
service and equipment rental. More information is available on
www.atlascopco.com.
Atlas Copco AB, Sweden Marianne Hamilton Staffan Nordin Organizational Development Group Treasury and Management Resources Tel: + 46 8 743 8590 Tel: + 46 8 743 8183 Mobile: + 46 70 665 8590 Mobile: + 46 70 675 8183 marianne.hamilton@atlascopco.com staffan.nordin@atlascopco.com Please visit http://www.bit.se for further information The following files are available for download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. : http://www.bit.se/bitonline/2000/04/27/20000427BIT00530/bit0001.doc http://www.bit.se/bitonline/2000/04/27/20000427BIT00530/bit0002.pdf |
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