Lehto Group Plc's directed share issue free of consideration for the implementation of share-based incentive plan
Lehto Group Plc
Stock Exchange Release
19 March 2019 at 10.00 a.m.
Lehto Group Plc's (”Lehto”) board of directors has on 18 March 2019 decided on a directed share issue free of consideration related to the reward payment for the performance period 2016 of the long-term incentive plan adopted by Lehto in 2016. Information on the launch as well as the key terms and conditions of the plan has been announced in a stock exchange release published on 20 December 2016.
In the share issue 58,691 Lehto Group Plc's new shares (the "Issue Shares") are issued free of consideration to 25 group key employees in accordance with the terms and conditions of the plan. The Issue Shares correspond to approximately 0.1 per cent of Lehto's shares and votes prior to the share issue. The Issue Shares are aimed to be registered with the trade register maintained by the Finnish Patent and Registration Office, be entered into the key employees' book-entry accounts, and be admitted to trading on the official list of Nasdaq Helsinki Ltd by the estimated date of 21 March 2019.
The decision on the issuance of the Issue Shares is based on the authorisation granted to Lehto's board of directors by the annual general meeting of shareholders held on 11 April 2018. Under the authorisation, a maximum of 5,800,000 shares may be issued through share issue or by granting option rights or other special rights entitling to shares in one or several instalments.
Prior to the share issue, the total number of shares and votes in Lehto is 58,250,752. Lehto does not hold any of its own shares as treasury shares. Following the registration of the Issue Shares with the trade register, the total number of shares and votes in Lehto will be 58,309,443. The Issue Shares entitle to dividend for the financial year 1 January – 31 December 2018, which, in accordance with the board of directors' proposal to the annual general meeting of shareholders to be held on 29 March 2019, is EUR 0.24 per share.
Chief Financial Officer
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Lehto Group PLC:
Lehto is fast growing construction and real estate group. We operate in four service areas: Business Premises, Housing and Social Care and Educational Premises. We are the innovator and pioneer of the construction sector. Our economically driven operating model makes construction more profitable, ensures the quality of construction and brings significant time and cost savings to the customer. We employed around 1,500 people. Our net sales for 2018 amounted to EUR 721.5 million.