Loihde Plc to start a share-based incentive scheme for the personnel and a related employee share issue
Loihde Plc Company Announcement 6 June 2022 at 11:15 a.m. EEST
The Board of Directors of Loihde Plc has decided to start a new share-based incentive scheme for all company personnel (Share-based incentive scheme for the personnel 2022). The share-based incentive scheme for the personnel consists of an employee share issue and a related additional share scheme. It is the purpose of the scheme to align the goals of the shareholders and the employees in order to increase Loihde’s value and implement the company’s business strategy in the long run as well as to commit the employees to the company. The scheme offers the employees a competitive bonus system based on earning shares in the company and the value development of those shares.
In the share-based incentive scheme for the personnel, the company offers Group employees and management Loihde Plc shares for subscription at a subscription price of EUR 12.70 per share. The subscription price is based on the average share price of Loihde’s shares in May 2022 (EUR 14.11), with a 10 per cent discount applied. The share subscription period is 14‒22 June 2022. The share subscription price will be entered in the company’s reserve for invested unrestricted equity.
In the employee share issue, a maximum of 95,000 shares in the company are issued, corresponding to approximately 1.7 per cent of the shares and votes in the company both before and after the share issue. The share issue is based on the authorisation by the Annual General Meeting held on 5 May 2022. From the point of view of the company, there is financial reason of particular importance for the directed share issue since the goal of the share issue is to implement the incentive scheme of the personnel. The final number of shares in the share issue depends on the number of participants in the scheme and the number of shares that they subscribe for.
The vesting period ends on 31 December 2024 and after that the participants in the scheme are given additional shares as a bonus. The gross number of additional shares is one share for each three shares that are subscribed for now, that is, a maximum of 31,667 shares. The additional shares are paid to the employees primarily on a net basis and the amount equivalent to the proportion of withholding tax is paid in cash. To receive additional shares, the employee must hold the shares purchased in the employee share issue until the end of the commitment period and also be employed by the Loihde Group at the end of that period. The total value of the additional share bonus calculated according to the subscription price of the employee share issue is approximately EUR 400,000, assuming that the employee share issue will be fully subscribed and that all of the participants in the scheme will meet the requirements of the additional share bonus.
CEO Samu Konttinen
Media contact: Director of Communications Tiina Nieminen, tel. +358 44 411 3480, firstname.lastname@example.org
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Loihde is an expert organisation specialising in digital development and security solutions. We help our customers create growth and competitiveness through digitalisation, while ensuring the security of people and information and the continuity of business. Loihde consists of two business areas: security solutions with the brand Loihde Trust, and digital development with the brands Loihde Advisory, Loihde Analytics and Loihde Factor. The Group has approximately 850 employees and its revenue in 2021 amounted to EUR 108.1 million. www.loihde.com