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DECISION OF SCANFIL PLC'S BOARD OF DIRECTORS ON STOCK OPTION PLAN

Scanfil Oyj
·2-min read

SCANFIL PLC STOCK EXCHANGE RELEASE 27 OCTOBER 2020 3.30 P.M.

DECISION OF SCANFIL PLC'S BOARD OF DIRECTORS ON STOCK OPTION PLAN

On 24 April 2019, the General Meeting of shareholders of Scanfil Plc decided to authorise the Board of Directors to decide on granting stock options rights to certain key personnel of the company and its subsidiaries and to decide on the terms and conditions of the option rights. The total number of option rights can be 900,000 and they entitle the key personnel to subscribe for a combined total of 900,000 of the company's new shares or shares in company’s possession (“Option Plan 2019”).

Based on the authorisation by the General Meeting, the Board of Directors has today on 27 October 2020 decided to grant the CEO and members of the Management Group option rights in all for 220,000 shares as follows: Petteri Jokitalo 120,000 pcs, Riku Hynninen 20,000 pcs, Kai Valo 20,000 pcs, Timo Sonninen 20,000 pcs, Markku Kosunen 20,000 pcs and Kristoffer Asklöv 20,000. The option rights shall be marked "2019B". Each option right entitles its holder to subscribe for one (1) of the company's new shares or shares in its possession. The subscription period for option right 2019B is 1 May 2023 – 30 April 2025. The subscription period for the option rights included in the option plan will not begin, unless the production and financial goals and conditions, set separately by the Board of Directors for exercising the option rights, are met. The option rights whose goals are not met will expire as determined by the Board. The stock options were granted without compensation. The subscription price of option right 2019B is EUR 4.34 which is the trading-volume weighted average share price in the NASDAQ OMX Helsinki of the period 1 - 31 March 2020.

SCANFIL PLC

Board of Directors

Additional information:
Chairman of the Board of Directors, Harri Takanen
tel. +358 8 4882 111

DISTRIBUTION NASDAQ OMX Helsinki
Major media
www.scanfil.com

Scanfil is an international contract manufacturer and system supplier for the electronics industry with 40 years of experience in demanding contract manufacturing. Scanfil provides its customers with an extensive array of services, ranging from product design to product manufacturing, material procurement and logistics solutions. Vertically integrated production and a comprehensive supply chain are the foundation of Scanfil’s competitive advantages: speed, flexibility and reliability.

Typical Scanfil products include mobile and communications network devices, automation system modules, frequency converters, lift control systems, analysers, various slot and vending machines, and devices related to medical technology and meteorology. Scanfil services are used by numerous international automation, energy, IT and health service providers, as well as companies operating in the field of urbanisation. Scanfil’s network of factories consists of production units in Europe, Asia and North America.