The Board of Directors of Fellow Finance has decided on a new option plan
FELLOW FINANCE PLC COMPANY ANNOUNCEMENT 20.10.2020 AT 4:30 PM
The Board of Directors of Fellow Finance has decided to launch a new key employee stock option plan 2020. There is a significant financial reason for Fellow Finance to issue option rights because they operate as a crucial part of the incentive and commitment program for key employees. The option rights are intended to encourage the key personnel to work diligently in long-term to increase the shareholder value. The option rights are also used to commit the key employees to the employer. The total number of stock options is a maximum of 358 681 and they are given without payment.
The option rights entitle their holders to subscribe a maximum of 358 681 new shares of the company or shares held by the company. The proportion of shares subscribed for with the option rights issued at this time is a maximum of 5% of all the shares of the company and the votes of the shares of the company based on the situation at the date of 20.10.2020, if the share subscription concerns new shares. The share subscription period for the option rights shall be from 1 March 2024 till 1 May 2025. The share subscription price of the option rights is 3.75€, which is approximately 30% above the closing price on 19 October 2020. The share subscription price shall be credited to the reserve for invested unrestricted equity.
The Board of Directors decided on the new stock option plan based on the authorization granted by the company’s Annual General Meeting of Shareholders held on 17 June 2020. The target group of the stock option plan includes in total less than 15 key employees and the option rights are not given to the board members of the company.
The terms and conditions of the option rights 2020 are attached to this announcement.
Fellow Finance Plc
The Board of Directors
Further enquiries:
Teemu Nyholm, Interim-CEO, Fellow Finance Plc, teemu.nyholm@fellowfinance.fi, +358 50 577 1028
Certified advisor, Evli Bank Plc, tel. +358 40 579 6210
Fellow Finance Plc is the leading ¹ loan-based crowdfunding and peer-to-peer lending platform in the Nordic countries. The company’s mission is to transform the traditional bank financing into direct lending between people and businesses. Fellow Finance has intermediated consumer and business financing of more than 660 million euros in Finland, Sweden, Denmark, Germany, Poland and Czech Republic and served more than 900 000 customers. The company is regulated by the Financial Supervisory Authority of Finland as an Authorized Payment Institution and listed on the Nasdaq First North Growth Market Finland. www.fellowfinance.com
¹Measured by the amount of financing facilitated. Source: Brismo Market Data (data accessed on 20 October 2020).
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