Efecte Plc: Option program 2021
EFECTE PLC -- COMPANY ANNOUNCEMENT -- 25 February 2021 at 8.30
Efecte Plc: Option program 2021
Based on the authorization granted by the Annual General Meeting of Shareholders held on 22 April 2020, the Board of Directors of Efecte Plc has resolved on a new stock option program on the terms enclosed hereto.
The stock options are offered to selected key personnel of Efecte Group. The Board of Directors decides on the distribution of the stock options to key personnel.
There is a weighty financial ground for the Company for the issuance of the stock options since the stock options are intended to form part of the incentive and commitment program of the key persons of Efecte Group and to motivate the key personnel to work on a long-term basis to increase the shareholder value of the company.
The maximum total number of stock options is 450,000. The stock options entitle to subscribe a total maximum of 450,000 shares. Each stock option entitles to subscribe for one (1) new share.
Of the stock options, maximum 150,000 stock options shall be marked with the symbol 2021A, maximum 150,000 with the symbol 2021B and maximum 150,000 with the symbol 2021C.
The stock options shall be issued free of charge.
The share subscription price is the trade volume weighted average quotation of the company's share on NASDAQ Helsinki Ltd. during the twenty trading days following the publication of the company's Q1/2021 business review (for Stock Options 2021A), the company's Q1/2022 business review (for Stock Options 2021B) and the company's Q1/2023 business review (for Stock Options 2021C).
From the share subscription price shall be deducted the amount of the dividend and funds distributed through a distribution of funds from the distributable equity fund decided after the start of the period for determination of the share subscription price and before share subscription.
The share subscription price shall, however, always be at least EUR 0.01.
The share subscription period will be for stock options 2021A from May 2, 2024 to May 31, 2026, for stock options 2021B from May 2, 2025 to May 31, 2027 and for stock options 2021C from May 2, 2026 to May 31, 2028.
Subject to certain exceptions, if the Stock Option holder ceases to be employed by or in the service of a group company, the stock option holder forfeits to the company or its order such stock options for which the share subscription period has not commenced.
The maximum number of shares which may be subscribed with stock options, 450,000 shares, is on the date of this release approximately 6.4 per cent of the company's shares after share subscriptions based on this option program and the company’s other option programs, if new shares are issued to the subscribers.
Efecte applies the following share investment requirement to the recipients of the stock options: In order to receive all the stock options allocated to him/her, the stock option recipient shall make an investment in Efecte's shares the amount of which is separately determined by the Board of Directors of Efecte.
Appendix:
Terms and conditions of the Efecte Plc Stock Options 2021
Further inquiries:
Tatu Paavilainen
Head of Investor Relations
+358 400 383 064
Taru Mäkinen
CFO
+358 40 507 1085
Certified Adviser:
Evli Bank Plc, tel 0
Efecte Plc
Efecte helps service organizations digitalize and automate their work. Customers across Europe leverage our cloud service to operate with greater agility, to improve the experience of end-users, and to save costs. The use cases for our solutions range from IT service management and ticketing to improving employee experiences, business workflows, and customer service. We are the European Alternative to global players in our space. Our headquarters is located in Finland and we have regional hubs in Germany and Sweden. Efecte is listed on the Nasdaq First North Growth Market Finland marketplace.
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