On 25 March 2024, the Board of Directors of Loihde Plc has decided on three directed share issues related to the share-based incentive schemes and the share savings plan for Loihde's employees and management. The company will issue a total of 29,219 shares in the share issues.
1. In order to pay the rewards of the Employee Share Savings Plan (ESSP) 2021–2023, the company will issue a total of 12,987 new shares free of charge to the participants in the ESSP in accordance with its terms. A total of 228 persons belonging to the company’s management and personnel will receive the bonus.
The share issue is based on the authorisation granted to the Board of Directors by the Annual General Meeting (AGM) held on 25 June 2020. The new shares are estimated to be registered in the Trade Register on 11 April 2024, 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 12 April 2024.
2. To pay the rewards of the long-term incentive scheme (LTI) 2021–2023 for the management and key personnel, the company will issue a total of 7,762 new shares. The shares are issued free of charge to the participants in the incentive scheme in accordance with the terms and performance criteria of the scheme. The performance criteria of the incentive scheme were the achievement of the revenue and EBITDA targets set by the Board of Directors for the vesting period. Performance shares will be granted to 13 persons that are part of Loihde's management or belong to other key personnel.
The share issue is based on the authorisation granted to the Board of Directors by the AGM held on 25 June 2020. The new shares are estimated to be registered in the Trade Register on 10 April 2024, 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 11 April 2024.
3. For savings shares subscriptions under the ESSP, the company will issue 8,470 new shares. The new shares are savings shares subscribed for with the savings accumulated by ESSP participants between 1 December 2023 and 29 February 2024. The share subscription price is EUR 12.9661 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 29 February 2024.
The share issue is based on the authorisation granted by the AGM held on 25 June 2020. The new shares are estimated to be registered in the Trade Register on 12 April 2024, 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 15 April 2024. The subscription price will be entered in full in the company’s reserve for invested unrestricted equity.
The share-based incentive schemes and their main terms are described on Loihde’s website at www.loihde.com/en/for-shareholders-2/corporate-governance/remuneration. The aim of the incentive schemes is to align the interests of Loihde’s employees and shareholders by encouraging employees to invest in the company’s shares and commit to working for the company’s goals.
As a result of the share issues, the total number of shares in Loihde Plc will increase to 5,790,926 shares.
Loihde Plc
Board of Directors
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 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 approximately 850 skilled professionals, and our revenue in 2023 amounted to EUR 133 million. loihde.com