Basware Corporation launches a long-term Employee Share Savings Plan for 2022−2025
Basware Corporation, stock exchange release, 24 November 2021 at 09.00 a.m. EET
The Board of Directors of Basware Corporation has resolved to establish a new long-term share savings plan for the employees of Basware Corporation and its subsidiaries.
The objective of the Employee Share Savings Plan (ESSP) is to offer all employees at Basware a favorable opportunity to invest a part of their salary in Basware shares. The intent of the initiative is to increase alignment of interests between employees and shareholders in Basware’s long-term value creation.
“In a people-centric business like ours, we strongly believe that alignment and shared goals drives commitment, business results and long-term value creation. The introduction of an Employee Share Savings Plan to all Basware employees globally is an important initiative that will further strengthen Basware as a company and our ability to successfully realize our growth potential,” comments Klaus Andersen, CEO of Basware Corporation.
Participation in the ESSP is voluntary. Employees will be invited to participate in one plan period at a time. The first plan period will commence on 1st of April 2022 and end on 31st of March 2025. Shares will be acquired in the market quarterly in four tranches based on the savings amount. The first tranche will be acquired after the publication of the Q2 2022 interim report, and the last tranche will be acquired after the publication of the Q1 2023 interim report.
Each participant shall receive one matching share free of charge for each two savings shares acquired during the first saving period (April 2022−March 2023). The delivery of matching shares will be subject to the participant still owning the acquired savings shares and continued employment at the end of the plan period.
The cost of the plan is a factor of the number of participants, the number of shares acquired in the plan and the share price development. The total savings for the first saving period (April 2022−March 2023) are expected to be between 0.6 and 1.0 million euros. The Board has the possibility to adjust the total savings amount before the plan period commences.
The Board of Directors will decide on potential new plan periods and their details separately.
For more information, please contact:
Katariina Kataja, Investor Relations Manager, Basware Corporation
Tel. +358 40 527 1427, firstname.lastname@example.org
Basware offers the largest open business network in the world and is the global leader in providing networked purchase-to-pay solutions and e-invoicing services. Our technology empowers organizations with 100% spend visibility by enabling the capture of all financial data across procurement, finance, accounts payable and accounts receivable functions. Basware's solutions play an important role in transitioning to a lower-carbon economy by enabling the digitalization and automation of Purchase-to-Pay enterprise processes that rely on paper. Basware is a global company doing business in more than 100 countries and is traded on the Helsinki exchange (BAS1V: HE). Find out more at https://investors.basware.com/en.