Source: Aspocomp Group Oyj
Aspocomp’s directed share issue without payment based on the Share Reward Plan 2016-2019
Aspocomp Group Plc, Company Announcement, April 3, 2019 at 2:10 p.m.
The Board of Directors of Aspocomp Group Plc has on April 3, 2019 decided on a directed share issue without payment based on Aspocomp’s Share Reward Plan 2016-2019 for the performance period 2018.
According to the terms and conditions of the Share Reward Plan 2016-2019 and after deduction of the cash payment portions of the remunerations meant for taxes and tax-like contributions, the persons included in the 2018 share-based incentive scheme shall receive altogether 38,000 new shares in the company through a directed share issue without payment.
More detailed information about the launch and the terms and conditions of the plan is available in a stock exchange release published on February 25, 2016 and on the website of the company. The decision on the directed share issue is based on the authorization granted to the Board of Directors by the Annual General Meeting held on April 3, 2019. The Share Reward Plan has been implemented as a part of Group Company’s incentive scheme for its key personnel. The Company has an especially weighty reason for deviation from the shareholders’ pre-emptive rights, taking the interests of shareholders into account, because purpose of the conveyance of shares is to commit the management and other key persons of the Company.
As a result of the new shares issued under the share reward plan, the number of shares of Aspocomp Group Plc shall increase to 6,704,505 shares. It is estimated that the new shares will be registered with the Trade register and Euroclear Finland on or about April 23, 2019 and shall be listed immediately after the registration.
The shares issued will be subject to a transfer restriction during the commitment period of 36 months calculated from their entry on the book-entry account of the recipient. Should a key person’s employment or service relationship with a group company end during such commitment period, he or she is, according to the main rule, required to return the shares to the company without compensation.
ASPOCOMP GROUP PLC
Board of Directors
For further information, please contact Mikko Montonen, President and CEO,
tel. +358 40 5011 262, mikko.montonen(at)aspocomp.com.
Aspocomp – a service company specializing in PCB technologies
A printed circuit board (PCB) is used for electrical interconnection and as a component assembly platform in electronic devices. Aspocomp provides PCB technology design, testing and logistics services over the entire lifecycle of a product. The company’s own production and extensive international partner network guarantee cost-effectiveness and reliable deliveries.
Aspocomp’s customers are companies that design and manufacture telecommunication systems and equipment, automotive and industrial electronics, and systems for testing semiconductor components for security technology. The company has customers around the world and most of its net sales are generated by exports.
Aspocomp is headquartered in Espoo and its plant is in Oulu, one of Finland’s major technology hubs.