Viterra Inc.

Viterra Inc.

June 12, 2008 10:20 ET

Viterra Announces Employee Share Purchase Plan

REGINA, SASKATCHEWAN--(Marketwire - June 12, 2008) - Viterra (TSX:VT), Canada's leading agribusiness, is pleased to announce the introduction of an Employee Share Purchase Plan ("Plan") that gives employees the option to invest in the common shares of the Company.

"We are very pleased to offer our employees an opportunity to share in the Company's success as they continue to build Viterra as Canada's premiere agribusiness," said Mayo Schmidt, President and CEO of Viterra. "The Board of Directors believes this program will more closely align the goals of our employees with the interests of our shareholders."

The Plan comes into effect July 1, 2008 for Viterra's Canadian employees and shortly thereafter for subsidiary and foreign employees. Eligible employees can elect to invest up to 10% of their regular earnings into Viterra common shares through payroll deductions. All regular full-time and part-time employees who have completed 90 days of continuous service are eligible to participate in the Plan.

Common shares will be purchased on the open market at current market prices through a third party Plan administrator. Viterra will contribute 50% of an employee's personal contribution to the Plan each pay period. As part of introducing the Plan, the Board of Directors approved a gift of 20 common shares for every eligible employee, excluding executive management. The initial gift of common shares will be purchased at the Company's expense on the open market after July 1, 2008.

Viterra Inc. is Canada's leading agri-business, with extensive operations and distribution capabilities across Western Canada, and with operations in the United States and Japan. The new company is diversified into sales and services of crop inputs and equipment, grain handling and marketing, livestock feed, agri-food processing and financial products. These operations are complemented by value-added businesses and strategic alliances, which allow Viterra to leverage its pivotal position between Prairie farmers and destination customers. The Company's common shares are listed on the Toronto Stock Exchange under the symbol VT.

Contact Information

  • Viterra Inc.
    Peter Flengeris
    Investor Relations and Corporate Affairs
    (306) 569-4810