Relais Group launches a long-term incentive plan for the company’s management
Relais Group Plc
Company release, 25.2.2021 at 17:00 EET
The Board of Directors of Relais Group Plc has decided on the establishment of a new share-based long-term incentive plan for the company’s management (below the “Plan”).
The objectives of the Plan are to align the interests of Relais Group’s management with those of the company’s shareholders and, thus, to promote shareholder value creation in the long term as well as to reward and retain the company’s management.
Eligible to participate in the Plan are at the maximum 15 individuals, including the members of the Management Team of Relais Group.
The rewards payable under the Plan will be paid in cash based on the value of a specific number of incentive units included in the Plan. The incentive units are allocated to the participants free of charge. The value of each incentive unit is linked to Relais Group’s share price development during the Plan period. The earned reward represents a gross earning, from which the applicable payroll tax is withheld.
The maximum aggregate number of incentive units to be settled in cash based on the Plan is 258,000 units. The incentive units allocated to the participants are divided into three separate tranches. The potential rewards payable under these tranches will be paid during the first half of the years 2023, 2024 and 2025 respectively.
The threshold price of each incentive unit in each of the three tranches is the trade volume weighted average price of Relais Group’s share on the First North Growth Market Finland marketplace of Nasdaq Helsinki Ltd during the last twenty-five trading days preceding March 16, 2021. The end price of each incentive unit is the trade volume weighted average price of Relais Group’s share on the First North Growth Market Finland marketplace of Nasdaq Helsinki Ltd during the twenty-five trading days following the publication date of Relais Group’s annual results for the year immediately preceding the year of payment, i.e., for the years 2022, 2023 and 2024 respectively. The threshold price of the incentive unit is deducted with the dividends paid between the start and end price determination periods.
The amount of the reward payable based on the Plan is limited by a maximum cap linked to the company’s share price development.
Relais Group Plc
Board of Directors
Further information:
Relais Group, CEO Arni Ekholm
Tel. +358 40 543 1446
Email: arni.ekholm@relais.fi
Certified advisor:
Evli Bank Plc, tel. +358 40 579 6210
Distribution:
Nasdaq Helsinki
Key media
www.relais.fi
Relais Group Plc in brief
Relais Group is one of the leading players in the vehicle aftermarket in the Nordic and Baltic countries. We are an industrial operator with a sector focus on vehicle life cycle enhancement and related services. We also serve as a growth platform for the companies we own.
We are a profitable company seeking strong growth. We carry out targeted acquisitions in line with our growth strategy and want to be an active player in the consolidation of the aftermarket in our area of operation. Our acquisitions are targeted at companies having a good strategic fit with our group companies.
Our net sales amounted to EUR 128.9 (2019: 98.9) million in 2020, and we employed nearly 300 professionals in six different countries. Our share is listed on Nasdaq Helsinki Ltd's Nasdaq First North Growth Market Finland with the stock symbol RELAIS.