Sievi Capital Plc organises a directed share issue without consideration to implement the matching share plan 2020–2024

Sievi Capital Plc

Stock exchange release 7 April 2021 at 6:15 pm EEST 

Sievi Capital Plc organises a directed share issue without consideration to implement the matching share plan 2020–2024 

On 7 April 2021, the Board of Directors of Sievi Capital Plc (“the Company”) decided on a directed share issue without consideration in order to issue matching shares (“the Share Issue”) in accordance with the matching share plan 2020–2024 (“the Matching Share Plan”) established by the Company on 6 March 2020. The Share Issue decision is based on the share issue authorisation granted to the Board of Directors by the Company’s Extraordinary General Meeting on 29 January 2020. Taking into account the Company’s point of view and the interests of the shareholders, there is a particularly weighty economic reason for deviating from the shareholders’ pre-emptive subscription right and for organising the Share Issue without consideration as the purpose of the Share Issue is to continue to serve as incentive and enhance the commitment of the Company’s personnel and, in this manner, contribute to and align the objectives of the Company, its personnel and its shareholders. The establishment of the Matching Share Plan and its main terms and conditions are described in the stock exchange release published on 6 March 2020 and on the Company’s website. 

A total of 104,486 new shares in the Company (“the New Shares”) will be issued without consideration to the key personnel participating in the Matching Share Plan in accordance with the terms and conditions of the Matching Share Plan. Each key person entitled to being awarded matching shares receives 50 per cent of the award in New Shares and 50 per cent in cash, which is intended to cover the resulting taxes and tax-like charges. From 1 April 2021 to 31 March 2024, the New Shares are subject to a transfer restriction, according to which the New Shares may not be sold, transferred or pledged and any rights related to them may not be otherwise transferred. 

The New Shares are expected to be registered in the Trade Register on approximately 9 April 2021 and will yield the right to a dividend and other shareholder rights once they have been entered in a book-entry account on behalf of a person participating in the Matching Share Plan. The Company’s intention is to apply for the New Shares to be listed for trading on Nasdaq Helsinki Ltd on approximately 12 April 2021. After the registration of the New Shares, the Company’s total number of shares will be 58,078,895.

SIEVI CAPITAL PLC

Board of Directors

FURTHER INFORMATION:

CEO Päivi Marttila, tel.  358

DISTRIBUTION:

Nasdaq Helsinki Ltd

Major media

Sievi Capital is a listed (Nasdaq Helsinki) private equity investment company that invests in small and medium-sized Finnish companies. Sievi Capital acts in close partnership with management and co-owners in target companies and actively supports growth, performance and value creation.