Admicom introduces a reward system based on a personnel fund
Unofficial translation of the company release on June 4, 2021 at 14:45 PM EEST. In case the document differs from the original, the Finnish version prevails.
Admicom Oyj’s Board of Directors has decided to enable a reward system based on a personnel fund and covering the Group’s entire personnel. The purpose of the system is to support entrepreneurial culture, ownership within the personnel, and the Company’s strategic aims and competitiveness.
After reaching annually agreed personal, business line and company specific objectives regarding the fund, the personnel have a right to a reward from which minimum of 50 percent will be directed to the personnel fund.
The legislation about personnel funds regulates the investments of the funds and withdrawing them. The system is a part of the renewal of Admicom’s reward system. The personnel fund will invest a significant amount (approximately about 70 percent) of the accumulated rewards to Admicom Oyj’s shares within their rules and the legislation.
The system is planned to be introduced during the second half of the year 2021. The objectives that set the reward payment in motion will be agreed on separately regarding each reward period. The introduction of the personnel fund is prepared with Mandatum Life.
The system does not affect Admicom Oyj’s financial guidance.
Admicom Oyj
BOARD OF DIRECTORS
Additional information:
Petri Aho
CFO
petri.aho@admicom.fi
+358 50 340 2986
Approved advisor:
Oaklins Merasco Oy
+358 09 612 9670
Admicom Oyj Admicom, established in 2004, is a Finnish forerunner and provider of cloud-based ERP solutions for construction, building services engineering and manufacturing companies and a comprehensive partner in software and accounting services. The Company’s cloud-based SaaS ERP solution Adminet helps small and medium-sized companies enhance their competitive advantage by automating manual processes of production site and office seamlessly all the way to accounting.
The cost calculation and the production management software developed by our daughter company Tocoman Oy have a long history and a stable position on the market. Combining the product strengths of Tocoman with the strengths of Adminet creates by far the most extensive cloud-based solution for the construction industry.
The Company employs more than 170 professionals in Jyväskylä, Vantaa, Tampere, Oulu and Helsinki. Further information: www.admicom.fi/investors