Allerød, 2016-09-09 15:54 CEST (GLOBE NEWSWIRE) -- In accordance with Matas A/S’ Overall Guidelines for Incentive Pay, Matas A/S has today granted a total of 66,968 Performance Share Units (”PSUs”), comprising 42,501 PSUs to executive management and 24,467 PSUs to key employees
Subject to the achievement of two KPIs, weighted 50% each, the number of PSUs awarded may vary upon vesting in an interval of 75% and 150% of the original number of PSUs awarded. One KPI is based on the development in EBITDA and the other KPI is based on the development in revenue in the period up to and including the 2018/19 financial year.
The PSUs are awarded free, and assuming that the PSUs vest and do not lapse, each PSU entitles the holder to receive one Matas share at the time of vesting.
Subject to achieveing the KPIs described above, the PSUs will vest after the publication of the annual report for the financial year 2018/19.
At the minimum and maximum achievement of the KPIs, the value of the PSUs at yesterdays closing price is DKK 6.25 mill and 12.5 mill., respectively.
It is a condition for participating in the programme, that the participants over a four-year period acquire a holding of Matas shares in a fixed proportion to their gross salary.
As a part of the grant of PSUs, Matas has after a mutual agreement with the participants voided the remaining tranches of the existing option programmes that were awarded in 2014 and 2015. The DKK 6.6 million value of the option programmes, calculated according to a Black-Scholes model, wil be cash settled with the participant of these programmes.
Matas has according to the EU market abuse regulation art. 19 received the below reports from management and their related parties’ transactions in Matas shares and related securities in connection with the grant of the PSUs and the voiding of the previous option programmes:
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | Terje List |
| 2. | Reason for the notification | |
| a) | Position/status | CEO |
| b) | Initial notification/ Amendment | Initial notification |
| 3. | Details of the issuer | |
| a) | Name | Matas A/S |
| b) | LEI Code | N/A |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) |
Description of the financial instrument, type of instrument Identifikation code |
Performance Share Units (PSUs) related to shares of Matas A/S DK0060497295 |
| b) | Nature of the transaction | Award of PSUs in connection with share option programme |
| c) |
Price(s) and volume(s) |
Price(s) (DKK) Volume(s) 0 28,542 |
| d) |
Aggregated information · Aggregated volume · Price (DKK) |
|
| e) | Date of the transaction | 9 September 2016 |
| f) | Place of the transaction | Outside the market |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | Terje List |
| 2. | Reason for the notification | |
| a) | Position/status | CEO |
| b) | Initial notification/ Amendment | Initial notification |
| 3. | Details of the issuer | |
| a) | Name | Matas A/S |
| b) | LEI Code | N/A |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) |
Description of the financial instrument, type of instrument Identification code |
Share options DK0060497295 |
| b) | Nature of the transaction | Sale of share options |
| c) |
Price(s) and volume(s) |
Price(s) (DKK) Volume(s) 110.34 11,222 15.11 30,855 17.76 30,855 20.23 30,855 |
| d) |
Aggregated information · Aggregated volume · Price (DKK) |
103,788 2,876,629 |
| e) | Date of the transaction | 9 September 2016 |
| f) | Place of the transaction | Outside the market |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | Anders Skole-Sørensen |
| 2. | Reason for the notification | |
| a) | Position/status | CFO |
| b) | Initial notification/ Amendment | Initial notification |
| 3. | Details of the issuer | |
| a) | Name | Matas A/S |
| b) | LEI Code | N/A |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) |
Description of the financial instrument, type of instrument Identification code |
Performance Share Units (PSUs) related to shares of Matas A/S DK0060497295 |
| b) | Nature of the transaction | Award of PSUs in connection with share option programme |
| c) |
Price(s) and volume(s) |
Price(s) (DKK) Volume(s) 0 13,959 |
| d) |
Aggregated information · Aggregated volume · Price (DKK) |
|
| e) | Date of the transaction | 9 September 2016 |
| f) | Place of the transaction | Outside the market |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | Anders Skole-Sørensen |
| 2. | Reason for the notification | |
| a) | Position/status | CFO |
| b) | Initial notification/ Amendment | Initial notification |
| 3. | Details of the issuer | |
| a) | Name | Matas A/S |
| b) | LEI Code | N/A |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) |
Description of the financial instrument, type of instrument Identification code |
Share options DK0060497295 |
| b) | Nature of the transaction | Sale of share options |
| c) |
Price(s) and volume(s) |
Price(s) (DKK) Volume(s) 110.34 4,989 15.11 15,224 17.76 15,224 20.23 15,224 |
| d) |
Aggregated information · Aggregated volume · Price (DKK) |
50,662 1,358,941 |
| e) | Date of the transaction | 9 September 2016 |
| f) | Place of the transaction | Outside the market |
For further information
Søren Mølbak, Head of Investor Relations
Tlf. +45 48 1655 48