The Board of Directors of Betolar Plc Resolved on Incentive Plans for Key Employees of the Group
Betolar Plc
Company Release
21 June 2023 at 9:30 PM EEST
The Board of Directors of Betolar Plc Resolved on Incentive Plans for Key Employees of the Group
The Board of Directors of Betolar Plc has resolved to introduce a new stock option plan for the key employees. There is a weighty financial reason for the company to issue stock options as the stock options are intended to form a part of the incentive and retention program for the key employees of the group. The purpose of the stock options is to motivate the key employees to work on a long-term basis to increase shareholder value. In addition, the stock options are intended to ensure retention of the key employees in the company.
The total maximum number of stock options to be issued is 710,000, and they entitle their owners to subscribe for a total maximum of 710,000 new shares in the company or treasury shares held by the company. The stock options are issued gratuitously.
The shares that are subscribed with the stock options to be issued will account for a total maximum of approximately 3.5% of all the company's shares and votes after possible share subscriptions if new shares are issued in the subscription. As a result of the share subscriptions made with the stock options, the number of shares in the company may increase by a total maximum of 710,000 shares if new shares are issued in the subscription.
The price of the shares subscribed with the Stock Options 2023 is EUR 2.59 per share, based on the closing price of the share on Nasdaq Helsinki Ltd maintained Nasdaq First North Growth Market Finland marketplace 20 June 2023.
The share subscription price will be credited to the company’s reserve for invested unrestricted equity. The share subscription price will be deducted by the amount of dividends and distribution of assets per share paid annually.
The subscription period for the shares subscribed with the stock options is from 1 April 2026 to 28 February 2028.
The theoretical market value of one stock option is EUR 0.905 and the theoretical market value of all stock options combined is approximately EUR 642,290. The theoretical market value of a stock option has been calculated using the Black & Scholes stock option pricing model with the following input factors: date of issue 21 June 2023, share price EUR 2.56, share subscription price EUR 2.59, risk free interest rate 3,27%, time to maturity of stock options approximately 4,7 years and volatility 36%.
The Board of Directors resolved on the new stock option plan by virtue of an authorisation granted by the Annual General Meeting of the company on 31 March 2023. The target group of the stock option plan includes a maximum of 16 key employees, including the Chief Executive Officer of the company and other members of the Management Team.
BETOLAR PLC
Board of Directors
More information:
Ilkka Salonen, Chairman of the Board of Directors, tel. +358 45 359 4434
Certified Advisor:
Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
About Betolar
Betolar Plc is a Finnish materials technology company that offers the production of sustainable and low-carbon concrete with the Geoprime solution. The solution converts industrial side streams into a cement substitute.
Betolar's artificial intelligence innovation can significantly reduce CO2 emissions compared to traditional cement-based concrete production by optimizing existing manufacturing processes, supporting solution development with advanced analytics and creating global markets for side streams. Betolar's mission is to help reduce CO2 emissions and the use of virgin raw materials. Betolar was founded in 2016 and is domiciled in Kannonkoski, Finland. Betolar is listed on the Nasdaq First North Growth Market. For more information: www.betolar.com