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AUGA group, AB progresses with its employee motivation scheme through share options
The organic food producer AUGA group, AB (hereinafter, the Company) is progressing with its employee motivation scheme through share options. The Company has made a decision to allocate a further 2.04 million shares to the employees and members of management bodies (hereinafter, Employees) of the Company and its subsidiaries (hereinafter, the Group). In total, since 2019 the Company will have allocated 9.2 million shares to its Employees. It also plans to further assign more than 2.3 million shares for the same purpose in the future.
The Company launched its first option programme in spring 2019. Almost 2.55 million shares were allocated to Employees in the first stage and additional 2.23 million shares in 2020, 2.38 million shares in 2021.
Employees who signed the first share option agreements in 2019, this year will have the right to vest them for the first time. As previously announced, the Company will increase its share capital by issuing new ordinary registered shares and will transfer them free of charge to the participants of share option programme of 2019 after this decision is approved at the ordinary general meeting of shareholders to be held on April 29, 2022.
The programme is being continued this year with the allocation of a further 2.04 million shares.
A motion to approve an additional 1.7 million shares for future allocation, so that total unallocated number of Company shares intended for the option programme would reach 2.3 million shares, has been included in the agenda for the upcoming ordinary general meeting of shareholders of the Company.
If all accumulated reserves are allocated to Employees and new shares are issued, they will amount to 5.08% of the equity of the Company.
"Employees who have share options become more involved in the Group's activities and improvement of its results, feel motivated and become more loyal. A survey conducted in the Group’s companies shows that 92% of employees who have share options feel and understand their role as professionals in the Group. Knowing that they have share options is not only a pleasant evaluation for them, but is also a motivation to strive for better results”, says Kęstutis Juščius, CEO of AUGA group, AB.
The Company's share option programme is aimed at increasing Employee motivation and engagement. Shares are primarily granted to the Employees who make the highest impact on the success of the Company’s operations.
Under existing agreement conditions, Employees are entitled to receive a specified number of Company shares after a period of 3 years. These shares are distributed to the Employees free of charge and funded by a Company reserve that has been formed for that purpose.
Kęstutis Juščius
CEO of AUGA group, AB
+370 5 233 5340
