IC GROUP A/S
COMPANY ANNOUNCEMENT
Pursuant to the authorization in the Remuneration Policy as adopted on the
Annual General Meeting on 30 September 2015, the Board of Directors of IC Group
A/S has decided to initiate a programme granting performance shares to members
of the Group’s Global Management Team as well as other selected executives.
The intentions behind initiating this programme are to promote the alignment of
the interests of the Company’s shareholders and the executives covered by the
programme, incentivize creation of long-term value and strengthen retention of
the executives covered by the programme.
The participants’ opportunity for receiving performance shares is dependent on
the achievement of specific goals in respect of the Group’s financial results
achieved in those financial years during which the programme runs (”Performance
Period”). 25% of the performance shares granted is calculated based on the
realized revenue growth whereas 75% of the performance shares granted is
calculated based on realized earnings growth (EBIT).
The Performance Period covers the financial years 2015/16, 2016/17, 2017/18,
and, consequently, the grant may, at the earliest, take place following the
announcement of the Annual Report 2017/18. The grant of performance shares is
free of charge.
The programme is offered to the Group’s Global Management Team and other
selected executives resulting in a total number of 23 participants.
The number of shares granted is based on meeting the set criteria. Therefore,
the total number of performance shares granted under the programme may vary
from 0 to 61,113. The members of the Group’s Global Management Team may, as a
maximum, be granted a number of performance shares corresponding to 50% of
their fixed annual salary (based on the monthly salary on 1 October 2015)
calculated by using the average closing price of the share of the five previous
trading days before 1 October 2015. The remaining participants of the programme
may, as a maximum, be granted a number of performance shares corresponding to
25% of their fixed annual salary calculated by using the same method.
During the Performance Period no grant of performance shares will take place,
and all shareholder rights and obligations will remain with the Company until
any grant is effectuated. When the grant has been effectuated, the ownership of
the shares in the Company is transferred to each participant, and the
participant is entitled to receive dividends and has all the rights and
obligations as shareholder of the Company. All participants are free to sell
the shares subject to applicable laws and the Company’s internal rules for
trading in Company shares.
Should a participant choose to leave IC Group before the time of grant, the
participant will lose his/her right to the performance shares.
The grant criteria, Performance Period as well as the number of performance
shares, which may be granted each participant, are determined by the Board of
Directors’ Remuneration Committee and have been approved by the Board of
Directors.
IC GROUP A/S
Henrik Heideby
Chairman of the Board of Directors
PLEASE DIRECT ANY QUESTIONS REGARDING THIS ANNOUNCEMENT TO:
Jens Bak-Holder
Investor Relations Manager
Phone: +45 21 28 58 32
This announcement is a translation from the Danish language. In the event of
any discrepancy
between the Danish and English versions, the Danish version shall prevail.
