ROBIT PLC STOCK EXCHANGE RELEASE 20 MAY 2021 AT 3.00 P.M.
PAYMENT OF ROBIT PLC’S SHARE REWARDS BASED ON THE SHARE-BASED INCENTIVE SCHEME AS A DIRECTED SHARE ISSUE OF OWN SHARES OF THE COMPANY WITHOUT CONSIDERATION
On 20 May 2021, the Board of Directors of Robit Plc has confirmed the maximum number of Matching Share Plan -based shares amounting 17.000 shares, based on the vesting period of 2018–2020 of the share-based incentive scheme commenced in 2017 for the company’s key personnel and resolved on the payment of the share rewards. The shares will be paid 50% as shares and 50% in cash. The recipients of the share rewards comprise 6 persons.
Robit Plc announced the establishment of the above-mentioned share-based incentive scheme with a stock exchange release published on 20 April 2017. The company also announced the Board of Directors’ decision to continue the share-based incentive scheme for the company’s key persons with a stock exchange release published on 15 June 2018.
The share rewards of the Matching Share Plan will be paid by transferring own shares held by the company without consideration to the participants (directed share issue without consideration). The share rewards are aimed to be paid by 31 May 2021. The amount of payable shares from the Matching Share Plan is determined on the basis of the number of shares subject to the share ownership prerequisite of a key person.
The Board of Directors has resolved on this transfer of own shares based on the authorization granted by the Annual General Meeting of Shareholders held on 25 March 2021. The shares to be transferred are of the same class as the company’s other shares.
There is a weighty financial reason for the company, also taking into account the interests of all the company’s shareholders, to deviate from the shareholders’ pre-emptive subscription right in the directed share issue without consideration. The shares issued constitute share rewards within long-term share-based incentive scheme of the company’s management and these share rewards are, in accordance with the objectives of the incentive scheme, intended to engage the management to work on a long-term basis with the aim to increase the shareholder value.
Board of Directors
Harri Sjöholm, Chairman
+358 400 622 092
Nasdaq Helsinki Ltd
Robit is a strongly internationalized growth company servicing global customers and selling drilling consumables for applications in mining, construction, geotechnical engineering and well drilling. The company’s offering is divided into three product and service ranges: Top Hammer, Down the Hole and Geotechnical. Robit has sales and service points in 9 countries as well as an active sales network in more than 100 countries. Robit’s manufacturing units are located in Finland, South Korea, Australia and the UK. Robit’s shares are listed on Nasdaq Helsinki Ltd. Further information is available at www.robitgroup.com.