DNA PLC STOCK EXCHANGE RELEASE 1 March 2019, 12:00 EET
In December 2018, the Board of Directors of DNA Plc decided on the establishment of a matching shares plan for all DNA personnel. Now the details of the first plan period 2019-2020 have been resolved by the Board. The purpose of the plan is to steer the activities of personnel towards the attainment of strategic objectives, as well as to improve the long-term commitment of personnel and offer incentives in the form of potential increase in share value.
The plan is offered to all DNA employees as well as those Barona and Rainmaker employees, who have agency employment contracts with DNA. Participation in the plan is voluntary, and an employee will participate in the plan for one plan period at a time. The plan period 2019-2020 will commence on 1 April 2019 and end on 31 March 2020. The invitees will be offered an opportunity to save 2% - 8% of their salaries, however, not more than EUR 500 per month. The accrued savings will be used for quarterly acquisitions of DNA shares at the market at current market price after the publications of the interim reports.
After a holding period of shares, DNA will grant the participants with gratuitous matching shares against shares acquired with savings. The matching shares will be delivered to the participant, if he or she owns the shares acquired with savings until the end of the holding period, and his or her employment at DNA has not terminated before the end of the holding period. The holding period for the plan period 2019-2020 will end on 31 March 2022.
The participant will receive half a matching share against one savings share. Instead of the 0.5 matching share, the participant will, however, have an opportunity to receive 0.75 per cent of a matching share against each savings share, if a performance criterion, set for the matching shares by the Board of Directors, is achieved. The performance criterion is based on measuring customer satisfaction.
The matching shares will be paid partly in shares and partly in cash after the end of the holding period. The cash proportion is intended to cover taxes and tax-related costs arising from the matching shares to a participant. The shares acquired with savings and the matching shares are freely transferable after their transfer on the participant's book-entry account.
If DNA decides on a new plan period after the 2019-2020 plan period, any dividends to be paid on shares acquired with savings and on matching shares given in the 2019-2020 plan will automatically be reinvested into acquisition of savings shares on the next potential share acquisition date. These shares will have an equal right to matching shares.
The total amount of all savings of the plan period 1 April 2019-31 March 2020 may not exceed 5,000,000 euros. The Board of Directors will resolve on the potential following plan periods and their details separately.
DNA has issued a stock exchange release on the establishment of a matching shares plan on 21 December 2018.
Further information:
Marko Rissanen, Senior Vice President, Human Resources, DNA Plc, +358 44 220 3230, marko.rissanen@dna.fi
Marja Mäkinen, Head of IR, DNA Plc, +358 44 044 1262, marja.makinen@dna.fi
DNA Corporate Communications, +358 44 044 8000, communications@dna.fi
DNA is a Finnish telecommunications group providing high-quality voice, data and TV services for communication, entertainment and working. DNA is Finland's largest cable operator and the leading pay TV provider in both cable and terrestrial networks. Our mission is to provide products and services that make our private and corporate customers' lives simple. As a telecommunications operator, DNA plays an important role in society by providing important communication connections and by enabling digital development. DNA was ranked as Finland's best place to work in 2019 in the Great Place to Work survey's large companies category. In 2018, our net sales were EUR 912 million and our operating profit EUR 139 million. DNA has more than 4 million subscriptions in its fixed and mobile communications networks. The Group also includes DNA Store, Finland's largest retail chain selling mobile phones. DNA shares are listed on Nasdaq Helsinki Ltd. For further information, visit www.dna.fi or follow us on Twitter @DNA_fi and Facebook.