SUBSCRIPTION PRICE, DISTRIBUTION AND MARKET VALUE OF STOCKMANN PLC'S 2010A SHARE OPTIONS

STOCKMANN plc Company Announcement 28.4.2010 at 8.00

SUBSCRIPTION PRICE, DISTRIBUTION AND MARKET VALUE OF STOCKMANN PLC'S 2010A SHARE OPTIONS

Stockmann plc's Annual General Meeting of 16 March 2010 resolved to issue share options to key personnel of the Stockmann Group. According to the resolution of the Annual General Meeting, the share subscription price with the 2010A share options will be the trade volume weighted average price of the company's Series B shares on the NASDAQ OMX Helsinki Ltd exchange over the period 1 February - 28 February 2010, increased by a minimum of 10 per cent. The annual dividends paid will be deducted from the subscription price.

A total of 500 000 Series B shares of Stockmann plc may be subscribed using the 2010A share options. The subscription period for the shares is 1 March 2013 — 31 March 2015. As a result of the subscriptions made using the 2010A share options, the company's share capital may increase by a maximum of EUR 1 000 000. At its meeting of 27 April 2010, the company's Board of Directors decided to distribute a total of 484 000 2010A share options at a subscription price equal to the aforementioned weighted average price for February 2010 increased by 20 per cent, or EUR 26.41 per share. After deduction of the dividends paid in April, the subscription price is EUR 25.69 per share. The undistributed 2010A share options will remain in the possession of the company. Some of the 2010A share options distributed carry an obligation concerning ownership of shares in the company.

The Board of Directors will decide on the distribution of share options on an annual basis, in the spring of 2010, 2011 and 2012. Distribution of the share options may involve special conditions, and these may concern the share ownership of key personnel or the company's financial performance. The target group for the programme consists of about 50 people. The programme's target group includes the members of the Group's Management Committee.

The theoretical market value of the 2010A share options is EUR 8.55 per share option. For the 2010A share options distributed, the total theoretical market value is approx. EUR 4.1 million. The calculation of the theoretical market value per share option is based on the Black-Scholes model used in share option pricing with the following values assumed: share price EUR 27.28, subscription price EUR 25.69, risk-free interest rate 1.96 per cent, share option validity period 5 years and volatility 29 per cent.

For the members of the Group's Management Committee, the 2010 share options carry a share-ownership obligation tied to the return on the options. Members of the Group's Management Committee must use 25 per cent of any gross income they obtain from the share options to purchase Series B shares in the company, and must retain these shares until the value of their share ownership corresponds to their gross annual salary.

The conditions applying to the share options can be viewed on the company's website, at www.stockmann.com.

STOCKMANN plc

Hannu Penttilä CEO

DISTRIBUTION NASDAQ OMX Principal media





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