Directed share issue related to the Fiskars Ownership Plan 2023 for the company’s management and transfer of the company’s own shares
Fiskars Corporation
Stock Exchange Release
March 10, 2023 at 5.45 p.m. EET
Directed share issue related to the Fiskars Ownership Plan 2023 for the company’s management and transfer of the company’s own shares
On 7 February 2023, it was announced that the Board of Directors of Fiskars Corporation (Board) decided to launch the Fiskars Ownership Plan 2023 (Plan) directed to the company’s President and CEO, Group Leadership Team and certain key employees determined by the Board. It was announced that the Board decided on a directed share issue against payment, in which a maximum total of 190,000 treasury shares held by the company are offered for subscription by the target group of the Plan, in deviation from the shareholders’ pre-emptive right. The company has a weighty financial reason for the deviation from the shareholders’ pre-emptive right, since the purpose of the share issue is to encourage the target group to acquire and own the company’s shares as a part of the Plan. The subscription period ended on 3 March 2023.
Today, the Board has approved the subscriptions for shares made in the directed share issue. A total of 156,401 treasury shares were subscribed for in the directed share issue. The subscription price was EUR 16.56 per share, equal to the trade volume weighted average price of Fiskars share on Nasdaq Helsinki Ltd during the period of 1 January 2023 – 31 January 2023. The total share subscription price is EUR 2,590,000.56. The share subscription price will be credited to the company’s reserve for invested unrestricted equity. At this stage, 12 key employees subscribed shares in the share issue. As part of the Plan, the Board resolved to offer to partly finance on an arm’s length basis the subscriptions of the company’s shares, by providing interest-bearing loans to the Plan participants. The aggregate amount of finance provided by the company was EUR 1,206,274.00.
Based on the approval of the Board, a total of 156,401 Fiskars shares will be transferred to the subscribers on 14 March 2023 at the latest.
Trading code: FSKRS
Number of shares: 156,401
Price/share: EUR 16.56
The subscribed shares are treasury shares held by the Company, which means that the total number of shares of the company does not change. After the transfer, Fiskars Corporation holds a total of 190,984 own shares.
Media and investor contacts:
Essi Lipponen, Director, Investor Relations, tel. +358 40 829 1192
Fiskars Group in brief
Fiskars Group (FSKRS, Nasdaq Helsinki) is the global home of design-driven brands for indoor and outdoor living. Our brands include Fiskars, Gerber, Iittala, Royal Copenhagen, Moomin by Arabia, Waterford, and Wedgwood. Our brands are present in more than 100 countries and we have approximately 350 own stores. We have close to 7,000 employees and our global net sales in 2022 were EUR 1.2 billion.
We are driven by our common purpose: Pioneering design to make the everyday extraordinary. Since 1649, we have designed products of timeless, purposeful, and functional beauty, while driving innovation and sustainable growth.
Read more: fiskarsgroup.com