COMPTEL CORPORATION STOCK EXCHANGE RELEASE 10 SEPTEMBER 2015 AT 9.00AM EET
The President and CEO of Comptel, Juhani Hintikka, has made a significant investment in the company as part of an incentive plan. Mr. Hintikka invests EUR 800.000 in Comptel by purchasing a total of 3,478,260 share subscription rights at a price of EUR 0.23 per unit. The subscription rights entitle to subscribe shares worth up to EUR 3.2 million during agreed subscription periods. According to the rules of the incentive plan, the share subscription price is EUR 0.92, which is the volume-weighted average price of the company’s share in NASDAQ OMX Helsinki during 12. August 2015 – 8. September 2015 deducted with 20 %. The price of subscription right and the subscription price of one share totals EUR 1.15, which corresponds to the value of Comptel’s share at the time of the Board’s resolution.
Exercising the right to subscribe new shares enables Mr. Hintikka to increase his current direct and indirect ownership of approximately 1.1 % in the company up to approximately 4 % of the number of shares and voting rights of Comptel, if Mr. Hintikka exercises all subscription rights and if new shares are issued in connection with the share subscriptions.
Juhani Hintikka, President and CEO: ”I believe strongly in the company and its future, and therefore I was willing to make such a significant personal additional investment. The company’s strategy is clear and we are ready to ready to seek a leading position in our given markets.”
Pertti Ervi, Chairman of the Board: “The Board of Directors sees it very positive that the President and CEO wanted to make a long-term commitment in the company also through this significant investment. Accordingly, the Board created a special engagement program to Mr. Hintikka that included the personal investment”.
The subscription rights are marked with symbol 2015A (share subscription period 15 August 2018. – 15 September 2019) and 2015B (share subscription period 15 August 2019 - 15 September 2019). After the share subscriptions, the number of the company’s shares may increase by a maximum of 3,478,260 shares, if new shares are issued in the share subscription.
The Board of Directors decided on the incentive program based on authorization received from the Annual General Meeting held on 9 April, 2015 in relation to stock options and other special rights entitling to shares, as referred to in Chapter 10, section 1 of Companies Act. The company has a weighty financial reason for the issue of stock options, since the stock options are intended to form part of the incentive program for the President and CEO.
The terms and conditions of the incentive plan are available on the company's website at www.comptel.com.
Helsinki, 10.September 2015
COMPTEL CORPORATION
Board of Directors
For further information, please contact
Chairman of the Board Pertti Ervi, puh. +358 9 700 1131
Distribution:
NASDAQ OMX Helsinki
Major Media
APPENDIX 1 Comptel Corporation Stock Option Plan 2015
APPENDIX 2 Market Value of Comptel Corporation Stock Options 2015
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