ROBIT PLC STOCK EXCHANGE RELEASE 15 JUNE 2018 AT 8.05 A.M.
THE BOARD OF DIRECTORS OF ROBIT PLC DECIDED TO CONTINUE SHARE-BASED INCENTIVE PLAN FOR KEY PERSONS
The Board of Directors of Robit Plc has decided to continue the key persons' long-term share-based incentive plan mechanism decided by the Board in 2017. The Share Plan is divided into two, the Matching Share Plan and the Performance Matching Share Plan (together, the Share Plan). The prerequisite for receiving reward on the basis of the Share Plan is that a key person acquires Robit shares. Approximately 20 key persons, including the members of the Management Team, belong to the target group of the Share Plan.
The aim of the Share Plan is to combine the objectives of the shareholders and the key persons participating in the plan in order to increase the value of the company in the long-term, to retain the key persons at the company, and to offer them a competitive reward plan that is based on earning and accumulating the company's shares.
The Matching Share Plan has two vesting periods beginning on 1 September 2018 and 1 September 2019. A key person will as a reward, receive shares for the shares subject to the share ownership prerequisite after a vesting period of approximately three years. Receipt of shares is contingent on the continuation of employment or service upon reward payment. The rewards to be paid on the basis of the vesting period beginning on 1 September 2018 correspond to the value of a maximum total of 44,000 Robit Plc shares including also the proportion to be paid in cash.
The Performance Matching Share Plan covers the calendar years 2018-2020 and 2019-2021. The potential reward from the performance period 2018-2020 will be based on the Robit Group's cumulative Earnings per Share (EPS) and cumulative Turnover in 2018-2020. The required performance will be consistent with Robit Group's long-term targets. The rewards to be paid on the basis of the performance period 2018-2020 correspond to the value of a maximum total of 240,000 Robit Plc shares including also the proportion to be paid in cash.
A key person must own Robit shares so that his or her shareholding in the Company in total corresponds to the value of half of the key person's gross annual salary of the previous calendar year.
ROBIT PLC
The Board of Directors
Further information:
Heikki Allonen, Chairman of the Board
+358 400 421 234
heikki.allonen@robitgroup.com
Robit is a strongly internationalized growth company selling and servicing global customers in drilling consumables for applications in mining, construction and contracting, tunneling and well drilling. The company's offering is divided into three product and service range: Top Hammer and Down-the-Hole products as well as Digital Services. Robit has 21 own sales and service points as well as active sales networks in 115 countries. The manufacturing units are located in Finland, South Korea, Australia, UK and USA.
Distribution:
Nasdaq Helsinki Ltd
Key media
www.robitgroup.com