Increase of the share capital in connection with realisation of the employees’ share option program
The supervisory board of AS Ekspress Grupp has in accordance with clause 5.9 of the articles of association and the resolutions of the general meeting of shareholders from decided to increase the share capital of the company by 97,500.60 euros from EUR 18,478,104.60 to EUR 18,575,605.20, by issuing 162,501 new common shares with the nominal value of EUR 0.6 per share.
The increase of the share capital and issue of new shares will be carried out for the realisation of the option programme approved by the general meeting of shareholders from 29.09.2020. In accordance with point 1 of the shareholders’ decision from 04.03.2024, the exercise of the options and issuance of the shares shall be performed both by transferring Ekspress Grupp’s own shares to the option holder and by an increasing of the share capital of Ekspress Grupp and issuing of new shares. The amount of shares to be issued, i.e. 162,501 shares, corresponds to the number of shares required for the realisation of the option programme. Therefore, no further shares will be issued by AS Ekspress Grupp in relation to that programme.
The increase of the share capital and issue of new shares is directed to the option holders of the option programme, approved on 29.09.2020. Option holders will acquire shares for a price equal to their nominal value 0.6 Euros per share in accordance with the option program and shareholders’ decision from 04.03.2024.
The preferential right of existing shareholders to subscribe for new shares has been excluded by the resolutions of the general meeting of shareholders from 04.03.2024. The shares to be issued in connection with the share capital increase will grant a right to dividends as of the registration of the share capital increase in the Commercial Register.
Option holders will pay for the new shares by a monetary payment of EUR 97,500.60 in aggregate, i.e. 0.6 euros per share. A share premium will not be applied. Option holders will pay the subscription price by 07.05.2024 at the latest.
Mari-Liis Rüütsalu
Chairman of the Management Board
AS Ekspress Grupp is the leading Baltic media group whose key activities include web media content production as well as publishing of newspapers, magazines and books. The Group also operates an electronic ticket sales platform and ticket offices and provides an outdoor screen service in Estonia and Latvia. Ekspress Grupp launched its operations in 1989 and it employs almost 1100 people.
