Outokumpu announces a share incentive scheme for the CEO related to the Inoxum transaction

Tuesday, 28. February 2012 11:00
28 February 2012 at 12.00 pm EET

The Board of Directors of Outokumpu Oyj has approved the granting of 25 000
Outokumpu shares as a special incentive scheme to the Group's CEO, Mika
Seitovirta. Outokumpu is in the process of preparing a rights issue in
connection with the implementation of the strategically important Inoxum
acquisition announced on 31 January 2012 and the CEO has committed to fully
subscribe all the shares which the reward shares entitle to.

The aim of the scheme is to retain the CEO as he has a central role in the
successful implementation of the acquisition process and the related
integration. The reward shares will be delivered to the CEO no later than 29
February 2012. Outokumpu will pay the taxes and any social security
contributions related to the reward shares.

The reward shares are subject to a restriction according to which the reward
shares may not be transferred or in any other manner disposed of before 31 March
2015. The reward shares are also subject to a restriction according to which the
CEO forfeits the reward shares if his service is terminated or a notice for the
termination of the service is given prior to the end of the above restriction
period. The reward shares are, in addition, subject to a claw-back provision
during the above restriction period.

The reward shares are subject to the share ownership guideline applied by the
company to the executive management. The company's other limitations on variable
pay will be applied in connection with the delivery of the reward shares.

The reward shares will consist of Outokumpu treasury shares and will, therefore,
have no diluting effect.


Outokumpu is a global leader in stainless steel with the vision to be the
undisputed number one. Customers in a wide range of industries use our stainless
steel and services worldwide. Being fully recyclable, maintenance-free, as well
as very strong and durable material, stainless steel is one of the key building
blocks for sustainable future. Outokumpu employs some 8 000 people in more than
30 countries. The Group's head office is located in Espoo, Finland. Outokumpu is
listed on the NASDAQ OMX Helsinki. www.outokumpu.com

SER ENG - CEO share incentive scheme 28.2.2012:

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Source: Outokumpu Oyj via Thomson Reuters ONE

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