Eezy Plc’s share-based incentive plan for key employees of the company

EEZY PLC  --  COMPANY ANNOUNCEMENT  --  18 DECEMBER 2019 at 14:00

Eezy Plc’s share-based incentive plan for key employees of the company

The Board of Directors of Eezy Plc has resolved on a new long-term share-based incentive plan targeted to key employees of the company. The aim of the incentive plan is to align the objectives of the shareholders and the key personnel in order to increase the value of the company as well as to engage the key personnel to the company and to offer them a competitive incentive plan based on share ownership and development of the company’s value.

The new share-based incentive plan contains three earning periods. The first 13 months earning period starts on 1 December 2019 and ends on 31 December 2020. The second earning period covers calendar years 2021–2022, and the third earning period covers calendar years 2023–2024. The company’s Board of Directors determines the reward criteria and their target levels as well as the employees covered by the incentive plan before the beginning of each earning period. The potential reward to be paid during the earning periods may be paid in shares or as a combination of shares and cash payment, so that the amount to be paid in cash is determined based on the taxes payable on the reward. The reward can under exceptional circumstances be paid entirely in cash due to a justified reason based on the decision of the company’s Board of Directors.

After the first earning period a maximum amount of 137 210 Eezy Plc’s shares can be paid as reward to the key employees based on achieving growth and integration goals essential to the business of the company as determined by the Board of Directors. The reward criteria set for the first earning period are revenue growth and EBIT.

The reward earned for the first earning period will be paid to the key employees during the spring of 2021. The key employees shall subscribe for the earned reward shares free of charge. The payment of the reward is subject to the condition that the key employee’s employment or service relationship has not been terminated or cancelled by such key employee or by the company prior to the payment of the reward. The incentive plan will cover 7 key employees of the company’s executive group in the first earning period.

The Board of Directors estimates that if the reward is fully paid in shares, the maximum dilutive effect on the number of the company’s registered shares for the first earning period is 0.55%. The total value of the first earning period of the share-based incentive plan is approximately 871 thousand euro estimated based on the average share price of the trading day preceding this company announcement.

Eezy Plc

The Board of Directors

For further information:

Hannu Nyman

CFO

Eezy Plc



tel. +358 (0)50 306 9913

Certified Adviser:

Danske Bank A/S, Finland Branch, tel. +358 (0)10 546 7934