AutoStore Holdings Ltd. – Implementation of new share purchase plan for all permanent employees
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.
(Nedre Vats, 7 June 2022) On 19 May 2022, all permanent employees (the "Permanent Employees") of AutoStore Holdings Ltd. ("AutoStore", OSE:AUTO") and its subsidiaries (the "Group") have been invited to participate in a new employee share purchase plan (the "Program"). The overall purpose of the Program is to closely align the participants' interests with those of the shareholders of AutoStore and to create a long-term commitment to AutoStore. The Program will constitute an important component in the Group's total compensation package designed to attract and retain competent and motivated employees.
Through the Program, the Permanent Employees will be offered to apply for shares in AutoStore for a minimum investment amount of NOK 1,000 and a maximum investment amount of NOK 1,000,000. Shares purchased will be subject to a two-year lock-up period.
The application period for the offer will commence today, Tuesday 7 June 2022, and will expire on 21 June 2022 at 16:30 hours (CEST) (the "Application Period"). The purchase price for the ESPP Shares will be equal to the volume-weighted average share price for AutoStore's Shares on the Oslo Stock Exchange during the 30 trading days prior to the expiry of the offer, with a reduction of 20% to compensate for the lock-up undertaking (calculated based on the Black & Scholes model).
The Company will use less than 1% of its issued share capital to satisfy executive- and employee incentives and the actual number of shares sold to Permanent Employees under the Program will be announced after expiry of the Application Period.
More information about the Program is provided in the remuneration guidelines approved by the general meeting of AutoStore on 19 May 2022. The guidelines are attached to the notice of annual general meeting published by AutoStore on 28 April 2022 and are also available on AutoStore's website https://www.autostoresystem.com.
For further information, please contact:
Bent M. Skisaker, Chief Financial Officer, +47 46 82 16 93|[email protected]
Hiva Ghiri, VP Investor Relations, +47 958 66 790| [email protected]
About AutoStore
AutoStore, founded in 1996, is a robot technology company that invented, and continues to pioneer, Cube Storage Automation – the densest product/inventory storage solution in existence. The company’s focus is to marry software and hardware with human abilities to create the future of warehousing. AutoStore is global, with more than 900 systems installed in more than 40 countries over a wide range of industries. All sales are designed, installed, and serviced by a network of qualified system integrators – which AutoStore calls ‘partners’. The company’s headquarters is in Nedre Vats (Norway), with offices also in Oslo (Norway), in the U.S., UK, Germany, Austria, France, Spain, Italy, Korea, Japan, and Singapore.
Learn more at www.autostoresystem.com