(MENAFN- GlobeNewsWire - Nasdaq) English Finnish
CONSTI PLC STOCK EXCHANGE RELEASE 23 JUNE 2022 at 8.30 a.m. EET
THE BOARD OF DIRECTORS OF CONSTI PLC DECIDED ON NEW STOCK OPTION PLAN
The Board of Directors of Consti Plc has decided to launch a new key employee stock option plan. There is a weighty financial reason for the Company to issue stock options since the stock options are intended to form part of the key employee incentive and commitment program of Consti Plc and its subsidiaries. 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 250,000 and they entitle their owners to subscribe for a maximum total of 250,000 new shares in the Company or existing shares held by the Company. The stock options are issued gratuitously.
The number of shares subscribed by exercising stock options now issued corresponds to a maximum total of 3.1 per cent of the shares and votes in the Company, if new shares are issued in the share subscription.
The share subscription price for stock options is EUR 9.65 per share, which is the trade volume weighted average quotation of the Consti Plc share on Nasdaq Helsinki Ltd during 1 May 2022 – 31 May 2022. The share subscription price is deducted by the amount of dividends and/or distribution of assets to be decided before share subscription.
The share subscription period for stock options is 1 July 2025 – 30 June 2026.
The Board of Directors decides on the distribution of stock options to the key employees. The total number of shares in the Company may increase by a maximum of 250,000 shares, if new shares are issued in the subscription.
The theoretical market value of one stock option is approximately EUR 2.33 per stock option and the theoretical market value of stock options is approximately EUR 582,375 in total. The theoretical market value of a stock option has been calculated by using the Black & Scholes stock option pricing model with the following input factors: share price EUR 9.24, share subscription price EUR 9.65, risk free interest rate 1.51%, validity of stock options approximately 3 years and volatility 33.6%.
The Board of Directors decided on the new stock option plan by virtue of the authorization granted by the Company's Annual General Meeting of Shareholders on 5 April 2022. Stock options are distributed to approximately 26 Management Team members and other key employees determined by the Board of Directors.
The terms and conditions of stock options are enclosed to this release and available on the Company's website.
The Board of Directors
Esa Korkeela, CEO, Consti Plc, Tel. +358 40 730 8568
Petri Rignell, Chairman of the Board of Directors, Consti Plc, Tel. +358 40 505 2404
Nasdaq Helsinki Ltd
Consti is a leading Finnish company concentrating on renovation and technical services. Consti offers comprehensive renovation and building technology services and selected new construction services to housing companies, corporations, investors and the public sector in Finland's growth centres. Company has four business areas: Housing Companies, Corporations, Public Sector and Building Technology. In 2021, Consti Group's net sales amounted to 289 million euro. It employs approximately 1000 professionals in renovation construction and building technology.
Consti Plc is listed on Nasdaq Helsinki. The trading code is CONSTI.
- Terms and Conditions of Consti Plc Stock Options 2022
Attachments Terms and Conditions of Consti Plc Stock Options 2022...
Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.