Boliden's staff stock option programme - the Stock Option Plan of Boliden Limited - was introduced in 1997 when Boliden was a Canadian company. Originally, these stock options entitled holders to acquire shares in the company then known as Boliden Limited. In connection with the company's return to Sweden, however, the stock option undertaking was amended to make it valid for the acquisition of shares in Boliden AB. Allocations were made to key executives at the company between 1997 and 2001.
The redemption of Boliden staff stock options is a time-consuming business that is both complex and costly to the company. The Board of Directors has therefore decided to offer stock option holders an alternative, namely to redeem their stock options and cash in on the difference between the market value of the Boliden share and the redemption price of the stock option.
Boliden's President, Jan Johansson, was the last person to be allocated staff stock options. These options are currently the only ones in-the-money. Jan Johansson has decided to wind up his stock option holding and has used the greater part of the net proceeds to acquire 25,000 shares in Boliden AB. His total shareholding in Boliden following this transaction is 50,000 shares.
For more information, please contact:
Bengt Lindahl, Senior Vice President, Group Human Resources, Boliden AB, tel: +46 (0)8 610 1518, +46 (0)70 318 4202
Anders Ullberg, Chairman of the Board, Boliden AB, tel: +46 (0)706 326371