Stock option plan 2014
The Board of Directors of Nurminen Logistics Plc decided on a new key employee stock option plan on 14 January 2014. The company has a weighty financial reason for the issue of stock options, since the stock options are intended to form part of the incentive and commitment program for the Group key employees. The purpose of the stock options is to encourage the key employees to work on a long-term basis to increase shareholder value. The purpose of the stock options is also to commit the key employees to the employer.
The maximum total number of stock options issued is 1,500,000, and they entitle their owners to subscribe for a maximum total of 1,500,000 new shares in the company or existing shares held by the company. The stock options will be issued gratuitously. Of the stock options, 500,000 are marked with the symbol 2014A, 500,000 are marked with the symbol 2014B and 500,000 are marked with the symbol 2014C. The Board of Directors will decide upon the distribution of stock options to the key employees.
The number of shares subscribed by exercising stock options now issued corresponds to a maximum total of 10.34 per cent of all shares and votes of the shares in the company after the potential share subscription, if new shares are issued in the share subscription.
The share subscription price of the stock options 2014 is EUR 1.60 per share. The share subscription price is based on the prevailing price of the company’s share. The share subscription price will be credited to the reserve for invested unrestricted equity.
The share subscription period, for stock option 2014A will be 1 April 2015 – 31 March 2018, for stock option 2014B, 1 April 2016 – 31 March 2018, and for stock option 2014C, 1 April 2017 – 31 March 2018. The share subscription period will begin only if the Group’s net result is positive during the period of time determined by the Board of Directors.
After the share subscriptions with stock options, the number of the company’s shares may be increased by a maximum total of 1,500,000 shares, if new shares are issued in the share subscription.
The Board of Directors decided on the new stock option plan on the basis of the authorization granted by the company’s Annual General Meeting held on 15 April 2013. Approximately 10 key employees, including the members of the Group’s Management Team and other separately named executives, belong to the target group of the plan. For all key employees, the prerequisite for receiving stock options is share ownership in the company.