ROBIT CORPORATION’S BOARD OF DIRECTORS HAS DECIDED TO PRESENT
ROBIT CORPORATION STOCK EXCHANGE RELEASE 15 FEBRUARY 2022 AT 1 PM
ROBIT CORPORATION’S BOARD OF DIRECTORS HAS DECIDED ON KEY PERSONNEL SHARE REGULATION 2022–2024
On February 15, 2022, Robit Plc’s Board of Directors decided on a share-based incentive plan (“Plan”) for its key personnel. The purpose of the plan is to align the goals of shareholders and key personnel to increase the company’s value in the long term, to engage and guide key personnel towards the achievement of the company’s strategic goals, and to provide them with a competitive long-term incentive system.
The program consists of a one-year earning period and a two-year earning period. Earnings periods cover the financial years 2022 and 2023–2024. The potential reward for the period 2022 is based on the achievement of a predetermined cash flow target for operations in the financial statements 2022. The potential reward for the period 2023–2024 is based on the pre-determined average EPS target in the financial statements 2023 and 2024. The reward for both periods will be paid in May 2025.
The program covers approximately 30 key employees, members of the management team and high-potential employees. The participant must be employed by the company. The plan for members of the Management Team includes an ownership obligation, which means that a member of the company’s Management Team is obliged to own 50 percent of the bonus shares received until the value of the member’s total shareholding in the company corresponds to 50 percent of the member’s gross salary. for the calendar year preceding the payment of the premium.
The Board of Directors decides on the maximum remuneration for each participant. The maximum amount of possible share awards to be paid on the basis of the earning periods of the two schemes in 2022 and 2023–2024 is a total of 180,000 gross shares in Robit Plc, which corresponds to 0.8 percent of the company’s total number of shares. The fee to be paid consists of the premium shares that remain after deducting the cash contribution. A cash contribution is required to cover taxes. The company determines the share share and cash share, for example, by country, by individual or by group of employees. The dimensioning of the plan has been dimensioned so that the dilution effect of all existing share programs is always less than 4 percent of the total number of the company’s shares.
ROBIT CORPORATION
Board of Directors
More information:
Harri Sjöholm, Chairman
+358 400 622 092
[email protected]
Distribution:
Nasdaq Helsinki Oy
Key media
www.robitgroup.com
Robit is a strongly internationalized growth company serving global customers and selling drilling consumables for mining, construction, geotechnical design and well drilling applications. 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 8 countries and an active sales network in more than 100 countries. Robit’s production units are located in Finland, South Korea, Australia and the United Kingdom. Robit’s shares are listed on Nasdaq Helsinki Oy. More information is available at www.robitgroup.com.