AutoStore Holdings Ltd.: Launch of the employee share purchase plan for 2024 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, 17 June 2024): All permanent employees (the "Permanent Employees") of AutoStore Holdings Ltd. ("AutoStore", OSE:AUTO) and its subsidiaries (the "Group") have been invited to participate in the employee share purchase plan for 2024 (the "2024 Program"). The employee share purchase plan was initially introduced in 2022 and continued in 2023 and 2024. The overall purpose of the employee share purchase plan is to closely align the participants' interests with those of the shareholders of AutoStore and to create a long-term commitment to AutoStore. The employee share purchase plan constitutes an important component in the Group's total compensation package designed to attract and retain competent and motivated employees.
Through the 2024 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, Monday 17 June 2024, and will expire on 1 July 2024 at 16:30 hours (CEST) (the "Application Period"). The purchase price for each share under the 2024 Program 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 (including the Application Period), 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 2024 Program will be announced after expiry of the Application Period.
More information about the employee share purchase plan is provided in the remuneration guidelines approved at the annual general meeting of AutoStore on 19 May 2022. The guidelines are attached to the notice of the annual general meeting published by AutoStore on 28 April 2022 and are also available on AutoStore's website https://www.autostoresystem.com/investors.
For further information, please contact:
Hiva Flåskjer, Senior Vice President Investor Relations
Telephone: +47 958 66 790 | Email: [email protected]
About AutoStore | www.autostoresystem.com
AutoStore, founded in 1996, is a technology company that develops order-fulfillment solutions to help businesses achieve efficiency gains within the storage and retrieval of goods. The company offers both hardware and software capabilities and the AutoStore technology is interoperable with other third-party solutions.
AutoStore is global, with ~1,450 Systems in 54 countries. All sales are distributed, designed, installed, and serviced by a network of qualified system integrators referred to as "partners".
AutoStore was founded in Nedre Vats, on the west coast of Norway. The company has offices in Norway, the U.S., UK, Germany, France, Spain, Italy, Austria, South Korea, Japan, Australia, and Singapore, as well as assembly facilities in Poland.