| Photon Energy's management board has approved an employee share purchase programme. All employees of Photon Energy a.s. and its subsidiaries shall receive a monthly 10% bonus to their cash salaries which will be used to purchase Photon Energy shares in the open market. Following KNF regulations and guidelines all employees' securities accounts will be managed by CYRRUS a.s. Neither Photon Energy's management board nor individual employees will have any influence on the timing or any other details of share purchase transactions on these managed accounts. Employees are not allowed to sell their Photon Energy shares during their tenure with Photon Energy a.s. or any of its subsidiaries. Photon Energy's management board devised this employee share purchase programme, as typical employee share option programmes cannot be implemented in the Czech Republic. Photon Energy's management board is convinced that turning employees into co-owners is the most efficient way to align incentives between its highly motivated employees and its shareholders. Legal basis: § 3 ust.1. of the Appendix 1 to Resolution No. 346/2007 of the Warsaw Stock Exchange management board dated 30 May 2007 "Current and Periodical Information in the Alternative Trading System". |
