Loihde Plc conducts a directed share issue to deliver the savings shares that are part of its Employee Share Savings Plan (ESSP)
21.9.2023 12:30:00 EEST | Loihde Oyj | Company Announcement
Today, on 21 September 2023, Loihde Plc's Board of Directors has decided to issue a total of 5,933 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 July and 31 August 2023. The share subscription price is EUR 12.71 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 31 August 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 entered in the Trade Register on 28 September 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 September 2023. As a result of the share issue, the total number of shares in Loihde Plc increases to 5,752,114 shares. The subscription price will be entered 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 or 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 create growth and competitiveness through digitalisation and to protect themselves from physical and cyber threats. Loihde consists of two business areas: security solutions with the brand Loihde Trust and digital development with the brands Loihde Advance, Loihde Factor and Loihde Cloudon. The Group has approximately 900 employees and its revenue in 2022 amounted to EUR 123.0 million.