On 13 December 2017, the Board of Directors of Kamux Corporation decided to approve the detailed terms and conditions of the share-based incentive scheme for the Group's key personnel for 2018. The purpose of the share-based remuneration scheme is to combine the objectives of shareholders and key personnel in order to increase Kamux's value in the long term, to increase the commitment of the key personnel to Kamux and to offer them a competitive remuneration scheme based on the earning and accumulation of shares.

The earnings period for the share-based remuneration scheme is the 2018 calendar year. The amount of any gross reward paid pursuant to the scheme for the earnings period will be determined by the achievement of goals set for the earnings criteria. According to the decision by the Board of Directors, the earnings criterion applicable for the 2018 earnings period is achieving the EBIT target for 2018 set by the Board of Directors. Any rewards resulting from the scheme will be paid after the end of the earnings period, by the end of May 2019, in the company's shares unless the Board of Directors decides to pay the reward partly or fully in cash. The reward to be paid will consist of the net number of shares that remain after deducting the monetary sum required to cover the taxes for the confirmed reward. If a key person's employment or service relationship ends before the payment of the reward, no reward will normally be paid.

The Board of Directors has selected approximately 20 key persons as eligible to participate in the incentive scheme. According to the terms and conditions of the share-based remuneration scheme, the Board of Directors may decide to accept new participants in the scheme during the earnings period.

If the maximum target level set for the earnings criterion is achieved, the total amount of rewards paid under the 2018 share-based remuneration scheme would be up to approximately EUR 1,0 million (gross), which is estimated to correspond to up to approximately 150,000 Kamux shares, calculated on the basis of the average price of the Kamux share in November 2017.

The net shares paid as a reward will be subject to a transfer restriction during the commitment period. The commitment period begins when the reward is paid and ends on 31 December 2020. A member of the Group's Management Team must own half of the net shares received as a reward based on the scheme until his/her shareholding in the company corresponds to the value of his/her annual salary (ownership obligation). Each participant must own this number of shares for as long as he/she remains a member of the Group's Management Team.

The incentive scheme now approved for 2018 is the first scheme approved on the basis of the decision made by the Board of Directors on 27 April 2017 to establish an incentive scheme. The issuance of shares in accordance with the terms and conditions of the share-based remuneration scheme is based on the authorisation given to the Board of Directors of Kamux on 12 April 2017 by the shareholders of the company by a unanimous decision. The Board of Directors of Kamux is authorised to decide on issuing a maximum of 300,000 new and/or existing shares to reward Kamux's key personnel in accordance with the share-based remuneration scheme. The intention is to extend the share-based remuneration scheme with corresponding new earnings periods beginning annually at the discretion of the Board of Directors.

Kamux Corporation


For more information, please contact:

Juha Kalliokoski, CEO

Tel. +358 50 544 5538


Kamux is a rapidly growing car retail chain specialising in used cars and related services. The first Kamux car dealership began its operations in Hämeenlinna in 2003, and the company has a total of 53 showrooms in Finland, Sweden and Germany. Since its establishment, the company has sold more than 150,000 used cars. Kamux's revenue reached EUR 405 million in 2016. The adjusted operating profit was EUR 18 million, amounting to 4.4% of the 2016 revenue. Kamux employed 552 employees at the end of 2016 wherein 272 were permanent employees. www.kamux.com