Nurminen Logistics Plc Issues Shares for the Long-term Incentive Plan for the CEO
Nurminen Logistics Plc offers CEO of the Company share issuance. According to the decision of the Annual General Meeting of the Company in 12 April 2019 the Board of Directors is authorized to give or hand over the maximum of 20,000,000 new shares for example to form an incentive plan for the personnel. The authorization includes the right to determine conditions for share issuance. There is considerable financial reason to abandon shareholder privilege as the aim of this issuance is to ensure long term commitment and incentive for the CEO of the company. In the issuance the Company offers maximum of 180,000 shares to be purchased at the price of 0,28€ by 15 February 2020.
The incentive plan is based on development of earnings of the Company and the profit for the shareholders during the financial years from 2020 until 2022. The remuneration is planned to take place in April 2023 the latest unless the Board of Directors of the Company decides otherwise. The Board of Directors determines the goals and limits for the incentive plan in such manner that for each purchased share the plan may accumulate maximum of ten new shares. The remuneration based on the incentive plan may correspond to the maximum of 1.8 million shares of Nurminen Logistics Plc, unless the Board of Directors decides otherwise.
Nurminen Logistics Plc
The Chair of the Board
For more information, please contact: Olli Pohjanvirta tel. +358 40 900 6977
Nurminen Logistics is a listed company established in 1886 that offers logistics services. The company provides high-quality forwarding, cargo handling and value added services as well as railway transports and related to it project transport services to its customers. The main market areas of Nurminen Logistics are Finland, Russia and its neighbouring countries.