Payment of share rewards based on the share-based incentive programme as a directed share issue of own shares of the company without consideration
Pihlajalinna Plc Stock Exchange Release 19 February 2021 at 9.30 a.m.
Payment of share rewards based on the share-based incentive programme as a directed share issue of own shares of the company without consideration
On 19 February 2021, the Board of Directors of Pihlajalinna Plc has confirmed the maximum number of performance-based additional shares, 56,583 shares, earned based on the earning period 2020 of the share-based incentive programme which commenced in 2019 for the company's key personnel and resolved on the payment of the share rewards earned based on said earning period. This amount means a gross reward from which the applicable taxes will be withheld and the remaining net amount will be paid to the participants primarily in shares and additionally in cash. The recipients of the above share rewards comprise 20 key persons.
Pihlajalinna Plc announced the establishment of this share-based incentive programme with a Stock Exchange Release published on 15 February 2019.
The share rewards are paid by transferring own shares held by the company without consideration to the participants (directed share issue without consideration). The share rewards are aimed to be paid by 15 March 2021.
The final number of shares to be transferred will be determined based on the terms and conditions of the incentive programme by 15 March 2021. The Board of Directors has resolved on this transfer of own shares based on the authorization granted by the Annual General Meeting of Shareholders held on 15 April 2020. The shares to be transferred are of the same class as the company's other shares.
There is an especially weighty financial reason for the company, also taking into account the interests of all the company's shareholders, to deviate from the shareholders' pre-emptive subscription right in the directed share issue without consideration. The shares issued constitute share rewards within the long-term share-based incentive programme of the company's Management and these share rewards are, in accordance with the objectives of the incentive programme, intended to align the interests of the Management with the interests of the shareholders and to encourage the Management to work on a long-term basis with the aim to increase the shareholder value.
Board of Directors of Pihlajalinna Plc
Lisätietoja:
Joni Aaltonen, toimitusjohtaja
Soittopyynnöt Pihlajalinnan viestinnän kautta:
viestintäpäällikkö Taina Lehtomäki, p. +358 50 451 3678 tai taina.lehtomaki@pihlajalinna.fi
Jakelu:
Nasdaq Helsinki
Keskeiset tiedotusvälineet
investors.pihlajalinna.fi