Granted LTI programs favourable for further expansion
The performance-based incentive programs granted by the Annual General Meeting on June 15 means that the company’s need for raising capital over time is reduced and that Brighter becomes a more attractive and competitive employer for the continued expansion in Southeast Asia, the Middle East and other markets defined in the market vision announced in 2018 – to achieve a 30% market share for Actiste within 5 years from market entry.
In order for allocation of performance share rights through the program to take place, a number of performance targets, in the form of certain sales, share price development and EBITDA, need to be achieved. At the meeting, CEO Henrik Norström announced that all of the performance share rights he is granted through the program will be subject to these performance targets, which differs from the proposal announced in the Notice of the AGM where only half of his performance share rights were linked to performance targets, and that his performance targets are linked to the market vision. Brighter's Chairman of the Board Truls Sjöstedt announced, similar to CEO Henrik Norström, during the meeting that his performance targets regarding the performance share rights also will be linked to the market vision communicated in 2018.
“As Brighter has just recently started its shift towards becoming commercially active and still is investment-driven, it is of great importance to be able to continue to develop the business and expand in a capital-efficient way. Hence, the LTI program, which was approved at the Annual General Meeting, will be an important strategic tool that improves the conditions for achieving our ambitious goals, without having a negative impact on our cash-flow. The total need for raising capital that the company sees over time is, we believe, now reduced due to the resolution in the annual general meeting. In addition to that, there are now clear and mutual incentives throughout the organization to create value for the company's shareholders,” says Emanuel Lipschütz, Board member and representative of the Board's Remuneration Committee.
For further information, please contact:
Brighter’s Certified Adviser is Eminova Fondkommission AB, +46 (0)8 – 684 211 10, email@example.com, www.eminova.se.
About Brighter AB (publ)
Brighter is a health-tech company from Sweden with a vision of a world where managing chronic diseases is no longer a struggle. We believe a data-centric approach is key to provide smarter care for chronic conditions. Our daily-care solutions facilitate the flow of real-life treatment data between chronic-disease patients, their loved ones and their care providers – improving quality of life, easing the burden on healthcare systems, and opening new opportunities for data-driven research. Brighter is certified under ISO 13485. In 2019 the company won the Swecare Rising Stars Award.
The Company's shares are listed on Nasdaq First North Growth Market/BRIG.