Stock Exchange Release
February 11, 2021 at 1 p.m.
The Board of Directors of Aspo Plc resolved on key employee incentive plan
The Board of Directors of Aspo Plc has approved to continue the incentive and retention plan for the Group key employees by establishing a new Performance Share Plan 2021–2023. The aim of the plan is to combine the objectives of the shareholders and the key employees in order to increase the value of the Company in the long-term, to retain the key employees at the Company, and to offer them competitive reward plan based on earning and accumulating the Company´s shares.
Rewards earned from the Performance Share Plan 2021–2023 will be based on the Group’s Earnings per Share (EPS) of the financial year 2021. The prerequisite for participation in the plan and receiving reward on the basis of this plan is that a person participating in the plan allocates freely transferable company shares held by him or her or acquires the company shares up to the number determined by the Board of Directors.
The potential reward will be paid partly in the Company´s shares and partly in cash in 2022. The cash proportion is intended to cover taxes and tax-related costs arising from the reward to a key employee. As a rule, no reward will be paid if a key employee´s employment or service ends before the reward payment. The shares paid as reward may not be transferred during the restriction period, which will end on December 31, 2023. As a rule, if a key employee´s employment contract or director contract terminates during the restriction period, he or she must gratuitously return the shares earned as reward.
The Performance Share Plan 2021–2023 is directed to approximately 20 participants, including the members of the Group Executive Committee. The rewards to be paid on the basis of the Plan correspond to the value of a maximum total of 204,000 Aspo Plc shares including also the proportion to be paid in cash.
The Board of Directors
Gustav Nyberg, Chairman of the Board of Directors, tel. +358 40 503 6420, email@example.com
Aspo is a conglomerate that owns and develops business operations in Northern Europe and growth markets focusing on demanding b-to-b customers. Our strong company brands - ESL Shipping, Leipurin and Telko - aim to be the market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these. Together they generate Aspo's goodwill. Aspo's Group structure and business operations are continually developed without any predefined schedules.