Conveyance of Caverion Corporation’s own shares pursuant to Restricted and Performance Share Plans and the related directed share issue
Caverion Corporation Stock exchange release 17 March 2023 at 6.00 p.m. EET
Conveyance of Caverion Corporation’s own shares pursuant to Restricted and Performance Share Plans and the related directed share issue
The Board of Directors of Caverion Corporation (the “Company” and the “Board”) has decided on a directed share issue without payment for the Company’s Performance Share Plan 2020-2022 and Restricted Share Plan 2020-2022 reward payments. The decision on the directed share issue without payment is based on the authorisation granted to the Board by the Annual General Meeting of Shareholders held on March 28, 2022.
In the directed share issue without payment, 408,964 Company shares held by the Company have on March 17, 2023 been resolved by the Board to be conveyed to 92 key employees in accordance with the terms and conditions of the plans, of which 324,582 shares will be granted based on the Performance Share Plan 2020-2022 and 84,382 shares will be granted based on the Restricted Share Plan 2020-2022. No new shares will be issued in connection with the plans and therefore the plan will have no diluting effect. Prior to the directed share issue, the Company held a total of 2,447,447 treasury shares, of which 2,038,483 treasury shares remain with the Company after the conveyance.
The Board decided in December 2015 on establishment of the new share-based long-term incentive plan. In December 2019 the Board decided on the commencement of a new plan period for the years 2020-2022. Further details about the plans are available in the stock exchange releases announced on December 18, 2015 and December 18, 2019. The key aim of the plans is, among others, to align the interests of shareholders and senior management in order to promote shareholder value creation, to commit key senior management to the Company and its strategic targets and to offer them a competitive reward plan based on the ownership of the Company’s shares.
Distribution: Nasdaq Helsinki, principal media, www.caverion.com