Hold the Presses is your online newsportal en brings press releases from around the world. Journalists can use it for free, although it is their responsibilty to check the news. Hold the Presses is in no way responsible for the content of the press releases, the Sender is. We hope you enjoy reading the news we bring you on this website. If a message is published that is not acceptable, we apologize. Please contact us and we will remove the message as soon as possible.

Thursday, 15 February 2018

Consti Group Plc's Board decided to continue incentive plan for key people

Consti Yhtiöt Oyj    

Published: 07:50 CET 15-02-2018 /GlobeNewswire /Source: Consti Yhtiöt Oyj / : CONSTI /ISIN: FI4000178256

Consti Group Plc's Board decided to continue incentive plan for key people

CONSTI GROUP PLC STOCK EXCHANGE RELEASE 15 FEBRUARY 2018, at 8.50 a.m.

 

Consti Group Plc's Board decided to continue incentive plan for key people 

 

Consti Group Plc's Board has decided to continue the share-based incentive plan that was set up to engage the Group's key people in 2016. The aim of the new plan is to merge the objectives of the shareholders and key people in order to increase the value of the Company in the long-term, to engage key people to the Company, and to offer them a competitive reward plan based on earning of the Company's shares.

 

The plan offers the key people included in the plan the opportunity to earn Company shares as bonuses by altering half or all of their performance based bonuses for 2018 into shares. The performance based bonuses altered into shares will be multiplied with a bonus factor determined by the Board before the bonuses are paid.

 

The possible bonus for earnings period 2018 will be paid to participants after a two-year engagement period during 2021, in part as company shares and in part as cash. The cash portion of the payment is aimed at covering taxes and other levies related to the plan that key people must pay. At the time of the payment, key people will be compensated for dividends and possible asset allocations paid for the shares during the engagement period.

 

During earnings period 2018 the plan will include a maximum of approximately 70 key people including the Management Team. For the earning periods 2018, the bonuses paid will amount to a maximum of approximately 250 000 Consti Group Plc shares at the share price level of the plan's decision time, including also the cash payment, providing that all of the key people included in the plan decide to participate in it and alter their performance based bonuses entirely into shares.

 

Consti Group Plc

 

Further information:

Esa Korkeela, CEO, Consti Group Plc, Tel. +358 40 730 8568

 

Distribution:

Nasdaq Helsinki Ltd.

Major media

www.consti.fi

 

Consti is a leading Finnish company concentrating on renovation and technical services. Consti offers comprehensive building technology, pipeline renovation, renovation contracting, façade renovation and other demanding construction and maintenance services for residential and commercial buildings. In 2017, Consti Group's net sales amounted to 300 million euro. It employs over 1000 professionals in renovation construction and building technology.

 

Consti Group Plc is listed on Nasdaq Helsinki. The trading code is CONSTI. www.consti.fi  

 





This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: Consti Group Plc, Hopeatie 2, 6. krs, Helsinki 00440, Finland
If you would like to unsubscribe and stop receiving these e-mails click here.