Talenom Plc, Stock exchange release 25 February 2020 at 13:05
The Board of Directors of Talenom Plc resolved on key employee incentive plans
The Board of Directors of Talenom Plc has resolved to establish two new share-based incentive plans for the Group key employees. The aim is to align the objectives of the shareholders and key employees for increasing the value of the Company in the long-term, to commit the key employees to the Company and to offer them competitive incentive schemes that are based on earning and accumulating shares.
Performance Share Plan 2020-2024
The Performance Share Plan 2020-2024 consists of three (3) performance periods, covering the calendar years 2020-2022, 2021-2023 and 2022-2024. The Board of Directors resolves on the plan’s performance criteria and targets to be set for each criterion at the beginning of a performance period.
The potential reward based on the plan will be paid party in the Company’s shares and partly in cash after the end of a performance period. The cash proportion is intended to cover taxes and tax-related expenses arising from the reward to a participant. As a rule, no reward is paid, if the participant’s employment or service terminates before the reward payment.
The Company’s Executive Board Member is obliged to hold at least 50 per cent of the net number of shares paid to the member on the basis of the plan, until the value of his or her shareholding in the Company equals to the value of his or her annual base salary. Such number of Shares must be held as long as the membership in the Executive Board continues.
During the performance period 2020-2022, the reward is based on the Group’s operating profit, internationalisation and growth, as well as on the portion of value-added services of the net sales.
The rewards to be paid based on the performance period 2020-2022 correspond to the value of an approximate maximum total of 360,000 (Annual General Meeting’s decision on 25 February 2020 of share issue without payment included) Talenom Plc shares, including also the proportion to be paid in cash. During the performance period 2020-2022, approximately 50 persons are included in the target group of the plan, including the Company’s Executive Board members.
Restricted Share Plan 2020
The reward from the Restricted Share Plan 2020 is based on a valid employment or service and the continuity of the employment or service during a vesting period and other possible terms imposed by the Board of Directors. The reward is paid partly in the Company’s shares and partly in cash after the end of a 12-36-month vesting period. The Restricted Share Plan is intended for selected key employees only, including the Executive Board members. The rewards to be allocated based on the Restricted Share Plan in 2020-2022 correspond the value of a maximum total of 120,000 Talenom Plc shares, including also the proportion to be paid in cash.
TALENOM PLC
BOARD OF DIRECTORS
Further information:
Otto-Pekka Huhtala
CEO, Talenom Plc
tel. +358 40 703 8554
otto-pekka.huhtala@talenom.fi
Talenom Plc is an accounting firm established in 1972. Talenom offers a wide range of accounting services as well as other expert and advisory services to support its clients’ business. The company has its own software development and it provides its clients with electronic financing tools.
In 2019, Talenom Group reported net sales of 58.0 million euros, representing an increase of 18.6% compared to 2018. Talenom possesses a strong history of growth – Talenom reached an average annual net sales growth of 15.7% in the fiscal years 2005 - 2019.
DISTRIBUTION:
Nasdaq Helsinki
Main media
www.talenom.fi