The Board of Directors of Netum Group Plc decided on stock option plan for the CEO
Netum Group Plc | Company announcement | 5 November 2024 at 8.45 a.m. EET
The Board of Directors of Netum Group Plc decided on stock option plan for the CEO
The Board of Directors of Netum Group Plc’s (”Netum or the ”company”) has decided to launch a stock option plan for the CEO based on the authorization granted by the Annual General Meeting of the Company on 27 March 2024. The company has a weighty financial reason for the issue of stock options, since the stock options are intended to form part of the incentive and commitment program for the CEO. The purpose of the stock options is to merge the objectives of the company's shareholders and the CEO in order to increase the value of the company, to engage the CEO to the company and to offer him a competitive remuneration system.
The maximum total number of stock options issued is 70,000 and they entitle the CEO to subscribe for a maximum total of 70,000 new shares in the company if predetermined conditions are met. The stock options are issued gratuitously. Of the stock options, 10,000 are marked with the symbol 2024A, 30,000 are marked with the symbol 2024B and 30,000 are marked with the symbol 2024C. The Board of Directors has the right to transfer options in possession of the Company, from one option scheme to another.
The subscription price of a share subscribed for with an option right 2024A, 2024B and 2024C is EUR 2.51 per share. The subscription price is based on the trade volume weighted average price of the company’s share on Nasdaq Helsinki Ltd from 4 to 31 October 2024, from which 10% has been deducted.
The share subscription price will be credited to the reserve for the company’s invested unrestricted equity. As a result of the share subscriptions with option rights, the number of shares in the company may increase by a maximum of 70,000 shares, and this maximum amount corresponds to approximately 0.5 per cent of all shares and votes in the company after any share subscriptions on the date of the release.
The share subscription period, for stock options 2024A, is 15 March 2026–30 March 2028, for stock options 2024B 15 March 2027–30 March 2028, and for stock options 2024C, 15 March 2028–30 March 2028.
The right of the option holder to exercise the options arises as follows:
- the right to exercise the 2024A option rights arises on 15 March 2026 if the targets set by the company’s Board of Directors for the financial year 2025 are met; The target is met if the EBITA for the financial year 2025 is at least 11 per cent and the operational target set in January 2025 is achieved. The EBITA target weight is 70% and the operational target is 30%.
- the right to exercise the 2024B option rights arises on 15 March 2027 if the targets set by the company’s Board of Directors for the financial year 2026 are met; The target is met if the EBITA for the financial year 2026 is at least 12 per cent and the operational target set in January 2026 is achieved. The EBITA target weight is 70% and the operational target is 30%.
- the right to exercise option rights 2024C arises on 15 March 2028 if the targets set by the company’s Board of Directors for the financial year 2027 are met. The target is met if the EBITA for the financial year 2027 is at least 12 per cent and the operational target set in January 2027 is achieved. The EBITA target weight is 70% and the operational target is 30%.
Each financial year, the company’s Board of Directors assesses the achievement of the objectives for each financial year of the strategy confirmed by the company’s Board of Directors for the strategy period 2025–2027. If, in the opinion of the Board of Directors, the objectives in question have not been met for the financial year under review, the option rights expire in this respect.
At the market price of EUR 2.79 used in preparing the programme (the trade volume weighted average price on Nasdaq Helsinki Ltd from 4 to 31 October 2024), the theoretical market value of the programme is EUR 195,300.
For further information, please contact:
Netum Group Plc
Olavi Köngäs, Chairman of the Board
+358 40 581 0040
olavi.kongas@netum.fi
Certified Adviser:
Evli Plc
+358 40 579 6210
Netum Group Plc
Netum is a strongly and profitably growing IT service partner that builds a functional and secure digital society. We help our customers develop their digital business by designing and implementing sustainable digital solutions tailored to their needs – wisely and responsibly. Netum employs approximately 400 people, and the company's revenue in 2023 was EUR 37.1 million. Netum Group Plc's shares are listed on Nasdaq Helsinki First North (NETUM). www.netum.fi/