Robit Plc: NEW LONG-TERM INCENTIVE PLAN FOR ROBIT PLC’S CEO


ROBIT PLC               STOCK EXCHANGE RELEASE              24 SEPTEMBER 2019 AT 9.00 

NEW LONG-TERM INCENTIVE PLAN FOR ROBIT PLC’S CEO

The Board of Directors of Robit Plc has decided on a new long-term share-based incentive plan for the Group CEO. The applies to Tommi Lehtonen, who started as Group CEO on 1 May 2019. The share-based bonus plan has three performance periods and it covers the period 1 January 2019 – 31 December 2024.

One objective of the share-based bonus plan is to align the interests of the CEO and the company’s shareholders through long-term share ownership. An additional objective is to increase the company’s value in the long term and to commit the CEO to the company and offer him competitive compensation for good performance.

The share-based bonus plan provides the CEO with the opportunity to earn shares as a bonus, provided that the conditions set for paying the bonus are met in each performance period. The Board of Directors of Robit Plc will set targets for each two-year performance period, starting from 2019.

The new share-based incentive plan for the CEO has three performance periods, which will end on 31 December 2020, 31 December 2022 and 31 December 2024. The rewards to be paid on the basis of this plan correspond to the value of a total of 160,000 Robit Plc’s shares including also the cash proportion to be used for taxes and tax-related costs. 

The incentive plan bonuses will be paid in three instalments, after the end of each performance period. Payment of the bonus requires that the CEO's service relationship is in force at the time of payment of the bonus. Shares may not be conveyed, pledged or otherwise transferred until two years after the payment of the bonus.

ROBIT PLC

Board of Directors

Further information:
Harri Sjöholm, Chairman of the Board, tel. +358 400 622 092

DISTRIBUTION:  
NASDAQ Helsinki
Key media
www.robitgroup.com

Robit is a strongly internationalised growth company servicing global customers and selling drilling consumables for applications in mining, construction and contracting, tunnelling and well drilling. The company's offering is divided into two product and service ranges: Top Hammer and Down-the-Hole. Robit has 15 of its own sales and service points throughout the world as well as an active sales network in 115 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