Conveyance of YIT Corporation’s own shares under share-based incentive scheme
YIT Corporation Stock Exchange Release September 19, 2018 at 8:15 a.m.
The Board of Directors of YIT Corporation decided on September 18, 2018 on a directed share issue for Lemminkäinen Performance Share Program reward payment from the 2016 performance period. In connection with the merger of YIT and Lemminkäinen, the companies agreed on payment of unpaid share rewards earned under Lemminkäinen’s long-term incentive plan with shares in YIT. More information is available in offering circular published on August 24, 2017.
In the share issue, a maximum amount of 50,911 YIT Corporation shares will be issued and conveyed without consideration to the key persons participating in the incentive scheme according to the terms and conditions of the incentive scheme.
Lemminkäinen Corporation’s Board of Directors decided in December 2015 to implement long-term share-based incentive plan for key personnel. The aim is to combine the objectives of the shareholders and key personnel in order to increase the value of the company, while committing the participants of the plan to the company and increasing their ownership in the company.
Rewards will be paid to 76 people belonging to the 2016 performance period. The terms of the Lemminkäinen Corporation’s Performance Share Program were disclosed in more detail in a stock exchange release published on December 18, 2015.
The decision on the directed share issue is based on the authorisation granted to the Board of Directors by the Annual General Meeting of Shareholders held on March 16, 2018.
After the directed share issue, the company holds 1,051,143 own shares.
For further information, please contact:
Pii Raulo, Executive Vice President, Human Resources, YIT Corporation, tel. +35820 433 2254, email@example.com
Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, firstname.lastname@example.org
Vice President, Investor Relations
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
YIT is the largest Finnish and significant North European construction company. We develop and build apartments, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers our 10,000 professionals are creating more functional, more attractive and more sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our pro forma revenue for 2017 was over EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com