The Board of Directors of Fellow Finance Plc Resolved on a New Stock Option Plan
The Board of Directors of Fellow Finance Plc Resolved on a New Stock Option Plan
FELLOW FINANCE PLC COMPANY ANNOUNCEMENT 19 JUNE 2019 AT 8:15 PM
The Board of Directors of Fellow Finance Plc has resolved to launch a new key employee stock option plan 2019. There is a weighty financial reason for the company to issue option rights and to deviate from the pre-emptive subscription right because the option rights are intended as an integral part of the incentive and commitment scheme for the key employees. Option rights are intended to be an incentive for the key employees in their long-term work towards increasing the ownership value. Option rights are also used to commit the key employees to the employer. The aggregate amount of option rights issued is 200,000 and they are given without payment. The option rights shall be subscribed with the identifier 2019.
The option rights entitle their holders to subscribe a maximum of 200,000 new shares of the company or shares held by the company. The proportion of shares subscribed for with the option rights issued at this time is a maximum of 2.8% of all the shares of the company and the votes of the shares of the company based on the situation at the date of 19.6.2019, if the share subscription concerns new shares. The share subscription period for the shares subscribed for with option rights shall be between 1 March 2022 and 28 February 2023. The share subscription price of the option rights shall be determined based on the company’s weighted average rate of the exchange of shares between 1 March and 1 April 2019. The share subscription price shall be credited to the reserve for invested unrestricted equity.
The Board of Directors resolved on the new stock option plan by virtue of an authorization granted by the company’s Annual General Meeting of Shareholders held on 3 April 2019. The target group of the stock option plan includes in total less than 10 key employees and these option rights are not given to company´s co-founders or the Board of Directors.
The terms and conditions of the option rights 2019 are attached to this release, and available on the company’s webpage .
Fellow Finance Plc
The Board of Directors
Further enquiries
Jouni Hintikka
CEO, Fellow Finance Plc
Tel. 9
Certified advisor
Evli Bank Plc
tel. 0
Fellow Finance in brief
Fellow Finance Plc started its operations in 2014. The company is an expansive global FinTech group that provides crowdfunding services. A key role in the company’s business services is played by the leading Nordic¹ and maintained by the company which has already been used by more than 630,000 customers in approximately 60 countries. Fellow Finance Plc is an Authorized Payment Institution supervised by the Finnish Financial Supervisory Authority of Finland and the shares of Fellow Finance Plc are listed on the Nasdaq First North Finland marketplace. The company has approximately 2,900 shareholders.
¹Measured by amount of financing facilitated. Source: Brismo Market Data (data accessed on 19 June 2019).
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