Loihde Plc conducts a directed share issue to deliver the savings shares that are part of its Employee Share Savings Plan (ESSP)
18.12.2023 16:45:00 EET | Loihde Oyj | Company Announcement
Today, on 18 December 2023, Loihde Plc's Board of Directors has decided to issue a total of 9,593 new shares as part of the Group's Employee Share Savings Plan (ESSP).
On 25 May 2023, Loihde's Board of Directors decided to establish an ESSP for the employees of Loihde Plc and its subsidiaries. The ESSP gives employees the opportunity to save a portion of their salaries and invest those savings in Loihde’s shares. The savings are used to buy shares in Loihde four times a year. The main terms and conditions of the ESSP are described in the company announcement published on 25 May 2023 and on Loihde’s website at www.loihde.com/en/for-shareholders-2/corporate-governance/remuneration.
The new shares are savings shares subscribed for with the savings accumulated by ESSP participants between 1 September and 30 November 2023. The share subscription price is EUR 12,1906 per share, which corresponds to the volume-weighted average share price on Nasdaq First North Growth Market Finland during the time period from 1 to 30 November 2023.
The share issue is based on the authorisation granted by the Annual General Meeting held on 25 June 2020. The new shares are estimated to be registered in the Trade Register on 28 December 2023, and trading in the new shares on Nasdaq First North Growth Market Finland, maintained by Nasdaq Helsinki Ltd, together with the old shares is estimated to commence on 29 December 2023. As a result of the share issue, the total number of shares in Loihde Plc will increase to 5,761,707 shares. The subscription price will be entered in full in the company’s reserve for invested unrestricted equity.
Further information
CEO Samu Konttinen:
Media contact: Director of Communications Tiina Nieminen, tel. +358 44 411 3480, tiina.nieminen@loihde.com
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Loihde enables business continuity. We help our customers to gain a sustainable competitive edge through data, AI and digitalisation, to harness the potential of the cloud and to protect themselves against both physical and cyber threats. The combining of these skills is what makes Loihde a unique and comprehensive partner. We are nearly 900 skilled professionals, and our revenue in 2022 amounted to EUR 123.0 million.