QPR Software Oyj’s board of directors decided a
QPR SOFTWARE OYJ STOCK EXCHANGE RELEASE August 15, 2022 at 1:00 p.m.
QPR Software Oyj’s board of directors decided on a new option program
Based on the authorization given by the 2022 Annual General Meeting on April 6, 2022, the Board (“Board of DirectorsQPR Software Plc (“Company“) has decided on 15 August 2022 to launch a new option program, according to which key personnel of the Company and its subsidiaries (“Group) may receive stock options (“Stock options) subscribe to the company’s shares (“Shares“).
The company has a strong financial reason for granting the stock options, because the stock options are intended to be part of the incentive and engagement system for the group’s key personnel. The purpose of stock options is to encourage key personnel to work long-term to increase shareholder value and to commit key personnel to the group as their employer.
The maximum number of Option Rights to be issued is 489,542, and they entitle to subscribe for a total of no more than 489,542 new Company shares or Shares held by the Company. The Board of Directors decides whether the shares to be given to the subscribers are new shares or shares held by the Company. Option rights are issued free of charge. All 489,542 Warrants are marked with the code 2022.
The number of Shares subscribed with stock options corresponds to a maximum of approximately 2.89 percent of all Company Shares and Share votes after possible Share Subscriptions, if new Shares are issued in the Share Subscription. After Share Subscriptions made with stock options, the number of Company Shares can increase by a maximum of 489,542 Shares if new Shares are issued in the Share Subscription.
The subscription price of the share is the exchange-weighted average price of the company’s share in Nasdaq Helsinki Oy, rounded to the nearest cent, during the twenty (20) trading days following the publication of the Company’s H1/2022 financial review. If the ex-dividend date falls within the subscription price determination period, such dividend will be added to the trading prices from the ex-dividend date for the purpose of calculating the weighted average price of the trading volume. The procedure is similar if the Company distributes funds from the unrestricted equity fund or distributes share capital to shareholders during the mentioned period. The subscription price of Stock Option Shares can be reduced in certain special cases, which are described in the Terms of Option Rights attached to this announcement. However, the share subscription price is always at least EUR 0.01.
The subscription period for shares with options is 15.6.2025 – 31.5.2027.
It was found that the theoretical market value of one Option right is approximately EUR 0.22 and the theoretical market value of all Option rights is approximately EUR 107,700 in total. The theoretical market value of one Warrant has been calculated using the Black-Scholes option pricing model, taking into account the subscription price of the Warrant Share of EUR 0.88 (closing share price on August 12, 2022) and the following additional input factors: Share price EUR 0.88, risk-free interest rate 0 .88 percent, the maturity of the options is about 4.8 years and the volatility is about 27 percent.
The terms of the stock options are attached to this release and available on the Company’s website: www.qpr.com/company/investors.
QPR Software Oyj
Government
More information:
QPR Software Oyj
Jussi Vasama
managing director
Tel. +358 50 380 9893
QPR Software Oyj (Nasdaq Helsinki) offers process mining, performance management and enterprise architecture solutions for digital transformation, strategy implementation and business process improvement in more than 50 countries. QPR software enables customers to gain valuable insight into informed decisions that matter.
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Distribution:
Nasdaq Helsinki
Mainstream media
www.qpr.com