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Aspocomp Implements Directed Share Issue for Long-Term Incentives
March 6, 2025 | AspocompEstimated reading time: 1 minute
On July 20, 2022, the Board of Directors of Aspocomp Group Plc decided on the establishment of a share-based long-term incentive scheme for the company’s senior management and selected key employees. The first performance period 2022–2024 of the Performance Share Plan began in July 2022 and ended at the end of 2024. The performance criteria for the performance period were met for the CEO. In addition, the CEO had been granted a commitment bonus to which no performance criteria were applied.
The Board of Directors of Aspocomp Group Plc has, based on the authorization granted by the Annual General Meeting on April 18, 2024, resolved on a directed share issue without payment to the CEO for the purpose of delivering share rewards. In the share issue, 7,800 new shares in the company will be issued without consideration to the company’s CEO in deviation from the shareholders’ pre-emptive subscription right for the payment of the rewards of the performance period 2022–2024 and the commitment bonus.
In accordance with Chapter 9, Section 4, Subsection 1 of the Finnish Companies Act, there is a particularly weighty financial reason for the deviation from the shareholders’ pre-emptive subscription right from the company’s point of view and taking into account the interests of all its shareholders, as the shares will be issued for the purpose of delivering a share reward under the long-term incentive plan in accordance with the terms and conditions of the plan and for the payment of the commitment bonus.
The new shares issued in the share issue will be registered with the Trade Register on or about March 20, 2025, and will be applied for public trading on or about March 21, 2025. After the registration of the new shares with the Trade Register, the total number of shares in the company will be 6,849,240 shares.
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