ROBIT PLC STOCK EXCHANGE RELEASE 15 JUNE 2021 AT 1.00 P.M.
ROBIT PLC’S BOARD OF DIRECTORS HAS DECIDED ON A PERFORMANCE SHARE PLAN 2021–2023 FOR ITS KEY PERSONNEL
Robit Plc’s Board of Directors has on 15 June 2021 decided on a Performance Share Plan (“Plan”) for its key personnel. The purpose of the Plan is to align the objectives of the shareholders and the key personnel for increasing the value of the company in the long-term, to commit the key personnel and to steer them towards achieving the company’s strategic targets, as well as to offer them a competitive long-term incentive scheme.
The Plan comprises a one-year Performance Period and a two-year Performance Period. Performance Periods cover the financial years of 2021 and 2022–2023. The potential reward for the period 2021 is based on reaching a predefined EBITDA target in financial statements 2021. The potential reward for the period 2022–2023 is based on a predefined average of EPS target in financial statements 2022 and 2023. The potential reward for both periods will be paid in May 2024.
The Plan covers approximately 20 key persons, management team members and high-potential employees. A participant must be employed by the company. The Plan directed to the management team members includes an ownership obligation meaning that the company’s management team member is obliged to hold 50 percent of the received reward shares until the value of the member’s total shareholding in the company corresponds to 50 percent of the member’s gross salary for the calendar year preceding the payment of the reward.
The Board of Directors decides on the maximum reward for each participant. The maximum total amount of potential share rewards to be paid based on the performance periods 2021 and 2022–2023 of these two Plans is approximately 155,000 gross shares of Robit Plc, representing the gross reward before the deduction of taxes and tax-related costs arising from the reward. Payable reward consists of reward shares, remaining after the deduction of a cash proportion. The cash proportion is required for covering taxes. The company determines the ratio between the share proportion and cash proportion, e.g., on a country-specific, individual or personnel group basis. Sizing of the Plan is dimensioned so that the total dilution of all existing share plans stays always under 4 percent of the total number of the company’s shares.
Board of Directors
Harri Sjöholm, Chairman
+358 400 622 092
Nasdaq Helsinki Ltd
Robit is a strongly internationalized growth company servicing global customers and selling drilling consumables for applications in mining, construction, geotechnical engineering and well drilling. The company’s offering is divided into three product and service ranges: Top Hammer, Down the Hole and Geotechnical. Robit has sales and service points in 9 countries as well as an active sales network in more than 100 countries. Robit’s manufacturing units are located in Finland, South Korea, Australia and the UK. Robit’s shares are listed on Nasdaq Helsinki Ltd. Further information is available at www.robitgroup.com.