The Board of Directors of Tokmanni Group Corporation has resolved to continue incentive program

Tokmanni Group Corporation        Stock exchange release        10 February 2023 at 8:10 am

The Board of Directors of Tokmanni Group Corporation has resolved to continue its share-based incentive program directed to key employees. The aim of the program is to align the interests of shareholders and key employees, increase the value of the Company in the long-term and commit key employees to implement the Company’s strategy. In addition, the aim of the program is to offer key employees a competitive reward program based on earning and accumulating the Company’s shares.

The performance share program includes the calendar year 2023. The pay-out of the program is based on the Company’s earnings per share, Tokmanni's total share return compared to peer companies, and on the customers' view of Tokmanni's sustainability in 1.1.-31.12.2023.

The target group of the program includes the President and CEO, the members of the Executive Group as well as other key employees. If the maximum target level set for the earnings criteria is achieved, the total amount of rewards paid under the program would be approximately EUR 1.5 million (gross), which is estimated to correspond to up to approximately 120,000 Tokmanni shares, based on the average volume weighted price of the Tokmanni share in January 2023. The potential reward will be paid in Tokmanni Group shares and possibly partly in cash. The cash proportion covers personal taxes and tax-related costs arising from the reward. The earned shares will be transferred to the participant’s book-entry account in 2024 and will be released from restrictions in January 2026. If the employee’s employment ends before the end of the restriction period, the shares will be returned to the company.

Tokmanni Group Corporation

The Board of Directors

Further Information, please contact

Tapio Arimo, CFO, tel. +358 20 728 7390, tapio.arimo(a)tokmanni.fi

Tokmanni in brief

Tokmanni is Finland’s leading variety discount retailer. Some 4,200 Tokmanni employees make customers’ everyday life and special occasions easier by offering a versatile and up-to-date assortment of Finnish and international brand-name products and other high-quality products at prices that are always affordable. With around 200 stores around Finland and an online store, Tokmanni is always close to its customers. In 2022, Tokmanni’s revenue was EUR 1,168 million and comparable EBIT amounted to EUR 86 million. Tokmanni's shares are listed on Nasdaq Helsinki.

Distribution

Nasdaq Helsinki
Key Media