Stock Exchange Release
June 18, 2020 at 8:30 a.m.
Aspo Plc’s Board of Directors resolved on an incentive plan for key personnel
Aspo Plc's Board of Directors has resolved on a new share-based incentive plan for the Group's key personnel. The aim of the new plan is to combine the objectives of the shareholders and the key employees in order to increase the value of the Company in the long-term, to retain the key employees at the Company, and to offer them competitive reward plans based on earning and accumulating the Company's shares.
Restricted Share Plan 2020
The reward from the Restricted Share Plan 2020 is based on the participant's valid employment or service and continuation of employment during the vesting period of 36 months, and is paid in company shares and a cash contribution not exceeding the value of the shares. The rewards payable under the plan correspond to a maximum total value of 340,000 Aspo Plc shares including the proportion to be paid in cash.
The cash proportion to be paid in addition to the company's shares is intended to cover taxes and tax-like payments arising from the remuneration to the key personnel, in addition to which no other cash contributions are paid to the key personnel. If a key person resigns during the vesting period, he or she must, as a general rule, return the shares issued as a reward to the company free of charge. The shares paid as a reward may not be transferred during the vesting period, which ends three years after the transfer of the shares to the key employee.
The Restricted Share Plan 2020 is directed to approximately 10 people, including the members of the Group Executive Committee.
Board of Directors
Gustav Nyberg, Chairman of the Board, tel. +358 40 503 6420, firstname.lastname@example.org
Aspo is a conglomerate that owns and develops business operations in Northern Europe and growth markets, focusing on demanding B2B customers. The aim of our strong corporate brands – ESL Shipping, Leipurin and Telko– is to be the market leaders in their sectors. They are responsible for their own operations, customer relationships, and their development. Together they generate Aspo’s goodwill.