Incap Corporation Stock Exchange Release 26 May 2020 at 4.20 p.m. (EEST)
Incap's Board of Directors resolved on a share-based incentive scheme for the company's CEO
Incap Corporation's Board of Directors has resolved to implement a long-term share-based incentive scheme for the company's CEO, Otto Pukk. The incentive scheme's purpose is to support Incap's strategy and incentivize the CEO in the effective implementation of the post-acquisition integration of AWS Electronics Group. The company has not previously had a share-based incentive scheme for CEO Otto Pukk. Any reward payable based on the incentive scheme is paid out entirely as Incap's new shares.
The earnings period for the CEO's incentive scheme includes the ongoing and next financial period of the company so that it will end on 31 December 2021. During the earnings period, the CEO may earn a performance-based reward amounting up to 5,730 new shares of the company based on the development of the company's EBIT provided that the CEO is still in a service relationship with the Company at the date of the reward's payment. Possible reward based on the incentive scheme shall be paid after the company's Annual General Meeting in 2022 has approved the company's annual accounts for the financial year 1 January 2021 - 31 December 2021. The shares paid as reward shall not be transferred during a 12-month lock-up period, which begins from the reward payment.
For the execution of the incentive scheme the company's Board of Directors has resolved on the directed share issue to the CEO of the company without consideration based on the authorization granted to the company's Board of Directors on the issuance of shares by the Annual General Meeting of the company on 20 April 2020. The shares are issued subject to meeting the conditions of the incentive scheme.
On the date of this stock exchange release, the company has 4,365,168 shares.
INCAP CORPORATION
Board of Directors
Additional information:
Ville Vuori, Chairman of the Board of Directors, +358 (0)40 036 9438
INCAP IN BRIEF
Incap Corporation is a trusted partner and one-stop-shop in electronics manufacturing services. As a global EMS company Incap supports customers ranging from large multinationals and mid-sized companies to small start-ups in their complete manufacturing value chain. Incap offers state-of-the-art technology backed up by an entrepreneurial culture and highly qualified personnel. The company has operations in Finland, Estonia, India, Slovakia, the UK and Hong Kong and employs approximately 1,300 people. Incap's share has been listed on Nasdaq Helsinki Ltd stock exchange since 1997.
Attachment
- Incap Stock Exchange Release_26052020 (https://ml-eu.globenewswire.com/Resource/Download/b23f9021-1a7d-46f2-803f-223c70d4acf6)
