THE RESULT OF MARTELA CORPORATION’S DIRECTED SHARE ISSUE FOR KEY PERSONNEL
The Board of Directors of Martela Corporation has decided on March 23, 2021 to establish a new share-based incentive plan for the group’s key employees. The decision on the share issue is based on the authorization by the Annual General Meeting of Shareholders held on 18 March 2021.
The prerequisite for participating in the new plan is that a participant has acquired the company´s series A shares up to the number determined by the Board of Directors. In order to implement the plan, the Board of Directors decided on a share issue against payment directed to the target group.
The company has published a stock exchange release on the plan and the related share issue on March 23, 2021.
A maximum total of 359,000 new series A shares in the company were, in deviation from the shareholders’ pre-emptive right, offered in the share issue for subscription to the participants of the Performance-based Matching Share Plan 2021—2023. In addition, a total of 73,260 new series A shares have been offered for subscription to the company´s CEO, separately from the Performance-based Matching Share Plan.
The share subscription period of the new shares has been from 31 March to 18 April 2021. The share subscription price for the new shares will be EUR 2.73 per share, which is the same as the trade volume weighted average quotation of the share on Nasdaq Helsinki Ltd during 1 February—28 February 2021. The new shares have been subscribed against payment.
As part of the implementation of the Performance-based Matching Share Plan 2021—2023, the Board of Directors has resolved to grant plan participants interest-bearing loans in the maximum total amount of 686, 000 euros to finance the acquisition of the company’s shares. The maximum amount of the loan is 70 per cent of the participant´s investment in shares. The loans will be repaid in full on 31 December 2025, at the latest.
The Board of Directors has today approved a total of 305,700 new series A shares subscriptions based on the Performance-based Matching Share Plan 2021—2023 and a total of 46,740 new series A shares subscription based on the company´s CEO, separately from the Performance-based Matching Share Plan. The entire subscription price of EUR 962,161.20 shall be recorded into the invested non-restricted equity fund.
The new shares will produce a right to dividends and other shareholder rights after the entry of the new shares into the Trade Register.
The new shares are estimated to be entered into the Trade Register on or about 20 May 2021 and applied for public listing on Nasdaq Helsinki Ltd. on or about 21 May 2021. Number of the company's shares will increase by 352,440 shares to 4 508 040 shares.
Helsinki May 6, 2021
Martela Corporation
The Board of Directors
For more information, please contact Artti Aurasmaa, CEO, tel. +358 45 186 1775
Distribution
Nasdaq Helsinki
Main news media
Our strategic direction is defined by our mission “Better working” and our vision “People-centric workplaces”. Martela provides people centric workplaces where the users and their wellbeing are in the core. We focus on the Nordic countries, as the Nordic countries are forerunner in hybrid working environments with common open work culture background and needs.