Conveyance of YIT Corporation’s own shares under share-based incentive scheme
YIT Corporation Stock exchange release August 28, 2020 at 5:30 p.m.
Conveyance of YIT Corporation’s own shares under share-based incentive scheme
The Board of Directors of YIT Corporation has decided on August 28, 2020 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 23,938 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. As the company will use its treasury shares for the reward payments, the total number of shares of the company will not change.
Rewards will be paid to the maximum number of 34 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 12, 2020. The shares will be delivered to the incentive scheme participants on September 10, 2020. After the directed share issue, the company holds 2,015,977 own shares.
For further information, please contact:
Pii Raulo, Executive Vice President, Human Resources, YIT Corporation, tel. +358 20 433 2254, pii.raulo@yit.fi
YIT Corporation
Tommi Järvenpää
Vice President, Investor Relations
Distribution:
NASDAQ Helsinki, key media, www.yitgroup.com
YIT is the largest Finnish and a significant North European construction company and urban developer. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction. Together with our customers, our nearly 8,000 professionals are creating more functional, attractive and sustainable cities and environments. We work in 10 countries: Finland, Russia, Sweden, Norway, the Baltic countries, Czech Republic, Slovakia and Poland. Our revenue in 2019 was approximately EUR 3.4 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com