ROBIT PLC STOCK EXCHANGE RELEASE 11 JUNE 2020 AT 1.30 PM
ROBIT PLC’S SHARE-BASED INCENTIVE SCHEME FOR KEY PERSONNEL OF THE COMPANY – DIRECTED SHARE ISSUE
The Board of Directors of Robit Plc, at its meeting on 11 June 2020, has resolved on a directed share issue to implement the long-term incentive scheme for the company’s key personnel. The issuance of shares is based on the authorization given to the Board of Directors by the company’s Annual General Meeting held on 22 April 2020 and share-based incentive scheme for key personnel of the company resolved by the Board of Directors on 25 March 2020.
A maximum of 96 500 new shares, in deviation from the shareholders’ pre-emptive right, will be offered in the share issue for subscription to the key personnel participating in the share-based incentive scheme. The company has a weighty financial reason for the deviation from the shareholders’ pre-emptive right, since the purpose of the share issue is to engage its key personnel with the long-term incentive scheme.
The share subscription period of the shares is 11–18 June 2020. The shares must be paid upon subscription into the account specified by the company. The share subscription price for the shares is EUR 1.91 per share, equal to the trade volume-weighted average price of the share on Nasdaq Helsinki Ltd during 1-31 May 2020. Each subscription must concern a minimum of 500 shares and a maximum of 10 000 shares.
Incentive scheme covers years 2020–2022. The scheme has three elements: own investment of the key personnel in Robit shares (base share plan), reward shares by the company (matching share plan) and performance-based additional share plan (performance matching plan). In the matching share plan, the key person will receive one matching share for each invested share. In the performance matching share plan, the key person will receive a maximum of three performance matching shares, provided that the performance targets set by the Board of Directors for the plan are achieved. Matching shares and performance matching shares will be paid by the end of April 2023. The shares will be subject to the transfer restriction for a period of not less than one year following the date of share payment.
Information about the launch and the terms and conditions of the long-term incentive scheme for the key personnel of Robit Plc have been published in a stock exchange release on 25 March 2020.
ROBIT PLC
Board of Directors
Further information:
Harri Sjöholm, Chairman
+358 400 622 092
harri.sjoholm@robitgroup.com
Distribution:
Nasdaq Helsinki Ltd
Key media
www.robitgroup.com
Robit is a strongly internationalized growth company servicing global customers and selling drilling consumables for applications in mining, construction and contracting, tunneling and well drilling. The company’s offering is divided into two product and service ranges: Top Hammer and Down-the-Hole. Robit has 9 of its own sales and service points throughout the world as well as an active sales network in 100 countries. Robit’s manufacturing units are located in Finland, South Korea, Australia and the UK. Robit’s shares are listed on Nasdaq Helsinki Ltd. Further information is available at www.robitgroup.com.
