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 18 February 2022 at 8.30 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 18 February 2022, the Board of Directors of Pihlajalinna Plc has confirmed the maximum number of performance-based additional shares, 18,816 shares, earned based on the earning period 2021 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 27 key persons.
Performance targets of the defined period of 2021 were based on achievement of the consolidated adjusted operating profit target for 2021, the development of the customer satisfaction index (NPS) and employee net promoter score (eNPS), the growth of the share of internal production in specialised care, the implementation of the efficiency improvement programme for municipal companies and items that, according to the management’s estimate, may have a delayed impact on the profitability of complete outsourcing agreements.
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 2022.
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 2021. The shares to be transferred are of the same class as the company's other shares.
Pihlajalinna Plc announced the establishment of this share-based incentive programme with a Stock Exchange Release published on 15 February 2019.
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
Further information:
Joni Aaltonen, CEO of Pihlajalinna Plc
Requests for contacts through Pihlajalinna’s communications:
Communications officer Juuso Kauppinen, tel. +358 40 736 5138 or juuso.kauppinen@pihlajalinna.fi
Distribution:
Nasdaq Helsinki
Major media
investors.pihlajalinna.fi
Pihlajalinna in brief:
20-year-old Pihlajalinna (Nasdaq Helsinki: PIHLIS) is one of the leading private providers of social, healthcare and wellbeing services. The Group provides services to private individuals, companies, insurance companies and public sector entities, such as municipalities and joint municipal authorities, across Finland. The Group provides general practitioner and specialised care services, occupational healthcare and dental care services, residential services and wellbeing services, for example. The Group, in cooperation with the public sector, offers social and healthcare service provision models to public sector entities with the aim of providing high-quality services for public pay healthcare customers.