ASIAKASTIETO GROUP PLC, STOCK EXCHANGE RELEASE ON 31 AUGUST 2018 AT 4.00 P.M. EEST
The Board of Directors of Asiakastieto Group resolved on an incentive plan for key employees
The Board of Directors of Asiakastieto Group Plc has approved a new share-based long-term incentive plan for the key employees of Asiakastieto Group. Approximately 40 key employees, including the members of the Executive Team, belong to the target group of the plan. The purpose of the plan is to continue aligning the objectives of the key employees and shareholders in order to increase the value of Asiakastieto and retain the key employees in the company in the long term.
The new plan includes a matching period and a performance period. Both periods will begin on 1 September 2018. The matching period will end on 31 December 2019 and the performance period will end on 31 December 2020.
The prerequisite for participation in the plan and for reward payment is that a participant acquires Asiakastieto shares or allocates previously owned Asiakastieto shares up to the number determined by the Board of Directors.
The potential matching reward is contingent on the continuation of employment or service upon reward payment and the fulfilment of the share ownership prerequisite. The matching reward will be paid after the end of the matching period, in 2020. The potential performance reward will be based additionally on the Asiakastieto share’s Total Shareholder Return (TSR) during the performance period and the Group’s adjusted EBITDA in 2020. The performance reward will be paid in two instalments in 2021.
The rewards will be paid partly in shares and partly in cash. The cash proportion is intended to cover taxes and tax-related costs which the plan participant incurs due to the reward. As a rule, no reward will be paid if the participant’s employment or service ends before the reward payment. The rewards to be paid on the basis of the plan correspond to the value of an approximate maximum total of 300,000 Asiakastieto shares (including also the proportion to be paid in cash).
A member of the Executive Team must retain the net shares received on the basis of the plan until the member’s share ownership equals his/her annual gross base salary. Such number of shares must be held as long as the participant’s employment or service at Asiakastieto continues.
ASIAKASTIETO GROUP PLC
tel. +358 10 270 7111
Nasdaq Helsinki Ltd
Asiakastieto Group is one of the leading providers of digital business and consumer information services in the Nordic countries. The Group’s products and services are primarily used for risk management, finance and administration, decision-making and sales and marketing purposes. We are operating in Finland under the brand Suomen Asiakastieto and in Sweden under the brand UC. Asiakastieto and UC combined on 29 June 2018. Our pro forma annual net sales for 2017 was EUR 130 million and the number of employees was approximately 500. The Group serves several industries, the largest ones including finance and banking as well as wholesale and retail sectors and expert service companies. Asiakastieto Group is listed on Nasdaq Helsinki with the ticker ATG1V. More information about Asiakastieto Group is available at www.asiakastieto.fi and www.uc.se.
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Source: Asiakastieto Group Oyj via Globenewswire