ots Ad hoc-Service: Jenoptik AG <DE0006229107> Jenoptik bodies recommend increased dividend of 0.50 EUROs per share
Jenoptik plans to launch share option programme
Jena (ots Ad hoc-Service) -
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The Supervisory and Executive Boards of JENOPTIK AG, Jena, (Security Code 622910) are proposing to the ordinary general meeting on June 7, 2000 that a dividend of 0.50 EUROs be distributed per share. Compared to the previous year, the dividend will thus increase by thirty percent. Meeting in a session today, the Jenoptik Supervisory Board (Monday, April 10, 2000) has approved of the dividend proposed by the Executive Board. "With this dividend payment, our shareholders will profit from the improved operating result in 1999", said Jenoptik chief Dr. h.c. Lothar Späth on Monday in Jena.
JENOPTIK AG will announce its financial statement for the fiscal year of 1999 next Tuesday (April, 18). The balance press- conference is to begin at 11.30 a.m. in Jena. A summary statement of the annual report 1999 will be available on the Internet at www.jenoptik.de shortly after the conference. It will also be distributed to account maintaining banks and Jenoptik shareholders.
Share option for executives and employees of the Jenoptik Group To further increase the Group's long-term profit-earning capacity, the Executive Board and the Supervisory Board have decided on a share option programme which is to be submitted for approval by the same general shareholders meeting. Executive officers of the Jenoptik Group are to be provided with a possibility to acquire a share option.
For the share option programme to go ahead, the general meeting is to authorise the Executive Board to conditionally increase capital stock by up to 1.9 million shares.
Motivating employees and achieving long-term corporate commitment By launching the new share option programme, Jenoptik acts in accordance with its shareholder value corporate policy. The Executive Board and the Supervisory Board regard the share option programme as a progressive means of personnel policy. "Lasting motivation and long-term commitment of employees and executives to their company, as well as the recruitment of new highly qualified employees, are fundamental prerequisites for a sustained improvement in corporate value" were cited by the Supervisory Board and the Executive Board as the reasons for launching this latest Jenoptik scheme. In keeping with these goals, the option programme aims at long-term involvement and is clearly linked to target performance marks.
Options under the programme can be executed in four tranches (forty percent on expiry of two years, twenty percent each subsequent year) if the share price is clearly above the striking price. For execution of the individual option portions, the following increases in stock pricing have been specified for members of the board and members of the boards of subsidiaries:
( 30 percent stock price increase after two years (40% of option) ( 45 percent stock price increase after three years (20% of option) ( 60 percent stock price increase after four years (20 of option) ( 75 percent stock price increase after five years (20% of option)
For other executives and employees the following criteria shall apply:
( 10 percent stock price increase after two years (40% of option) ( 15 percent stock price increase after three years (20% of option) ( 20 percent stock price increase after four years (20 of option) ( 25 percent stock price increase after five years (20% of option).
Furthermore, an option can only be executed if the Jenoptik share has performed better than the M-Dax from the first day of trading in the year 2000 to the day of intended execution. This criterion has been introduced to ensure that only the work performance of Jenoptik will be honoured, not general market trends.
Contact:
Public Relations Katrin Lauterbach Phone: + 49-3641-65 2360
Investor Relations Sabine Barnekow Phone: +49-3641- 65 2156
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