Conveyance of YIT Corporation’s treasury shares under share-based incentive scheme
YIT Corporation Stock Exchange Release 29 April 2021 at 7.30 p.m.
Conveyance of YIT Corporation’s treasury shares under share-based incentive scheme
The Board of Directors of YIT Corporation has on 29 April 2021 decided on a directed share issue for the reward payment from the 2018 earnings period under the YIT Group’s Incentive Scheme 2017–2022. In the share issue, the maximum of 35,350 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.
The share-based incentive scheme for 2017–2022 and its terms decided by the YIT’s Board of Directors were disclosed in more detail in a stock exchange release published on 16 March 2017. The purpose of the scheme is to support the company’s strategy and increase the company’s value supplement to the existing incentive schemes. Rewards will be paid to maximum 208 people belonging to the company's management and personnel for the 2018 earnings period.
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 18 March 2021. The shares will be delivered to the incentive scheme participants on 5 May 2021. After the conveyance of treasury shares, the company holds 1,980,947 treasury shares.
For further information, please contact:
Pii Raulo, Executive Vice President, Human Resources, YIT Corporation, tel. +358 20 433 111, pii.raulo@yit.fi
YIT CORPORATION
Tommi Järvenpää
Vice President, Investor Relations
Distribution: NASDAQ Helsinki, major media, www.yitgroup.com
YIT is the largest Finnish and a significant North European urban developer and construction company. We create more sustainable, functional and attractive cities and living environments. We develop and build apartments, business premises and entire areas. We also specialise in demanding infrastructure construction. We own properties together with our partners, which supports the implementation of our significant development projects. We also provide our customers with services that increase the value of properties. We employ about 7,400 professionals in 10 countries: Finland, Russia, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. In 2020, our revenue amounted to approximately EUR 3.1 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com