HELSINKI, Feb. 26, 2021 /PRNewswire/ -- The Board of Directors of Kamux Corporation ("Company") has confirmed the remuneration to be paid to the key personnel of the Kamux Group in accordance with the terms and conditions of the share-based incentive scheme and the earnings criteria set for the year 2020. According to the terms and conditions of the share-based incentive scheme 2020 and after the deduction of the cash payment portions of the remunerations meant for taxes and tax-like contributions, 25 persons included in the 2020 share-based incentive scheme shall receive a total of 4,894 existing shares held by the Company through a directed share issue without consideration. The issuance of is based on the authorization given to the Board of Directors by the Company's Annual General Meeting on 21 April 2020.
The key terms of the third scheme for 2020 based on the share-based remuneration scheme established by the Board of Directors on 27 April 2017 were announced in the stock exchange release published on 16 January 2020.
After the transfer of own shares, the company holds 38,813 own shares.
The issued shares will be subject to a transfer restriction during the commitment period. The commitment period begins when the reward is paid and ends on 31 December 2022. A member of the Group's Management Team must own half of the shares received as a reward based on the scheme until his/her shareholding in the Company corresponds to the value of his/her annual salary (ownership obligation). Each participant must own this number of shares for as long as he/she remains a member of the Group's Management Team.
KAMUX CORPORATION
The Board of Directors
More information:
Juha Kalliokoski, CEO
Contacts:
Communications Director, Satu Otala, tel. +358 400 629 337
ir@kamux.fi
Kamux Corporation is a retail chain specializing in the sale of used cars and related integrated services that has grown rapidly. Kamux combines online shopping with an extensive showroom network to provide its customers with a great service experience anytime, anywhere. In addition to digital channels, the company has total of 78 car showrooms in Finland, Sweden and Germany. Since its founding, the company has sold approximately 300,000 used cars, 60,657 of which were sold in 2020. Kamux's revenue reached EUR 724.1 million in 2020. In 2020, Kamux's average number of employees was 713 in terms of full-time equivalent employees. The shares of Kamux are listed on the Nasdaq Helsinki stock exchange.
www.kamux.com
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