eQ PLC STOCK EXCHANGE RELEASE
26 October 2018, at 9:00 a.m.
Based on the authorisation by the Annual General Meeting held on 28 March 2018, the Board of Directors of eQ Plc has decided on a new option program with a subscription price for key employees of the eQ group. The option program 2018 consists of 2 000 000 option rights and each option right entitles to subscribe for one new share in the company. Based on the option rights, the number of the shares of the company may therefore increase with a maximum of 2 000 000 new shares and the shares subscribed based on the option rights constitute no more than 5.05 per cent of the company's total number of shares which includes also the new shares subscribed based on option programs 2010 and 2015.
The subscription period for the option rights begins on 26 October 2018 and ends on 30 November 2018. The subscription price of an option right is EUR 0.72 and it has been calculated with the fair value of the option right which has been derived using the Black & Scholes model. The subscription price includes a discount of 30% from the fair value of the option rights. The subscription price of the option rights shall be credited to the reserve for invested unrestricted equity in full.
The share subscription period begins on 1 April 2022 and ends on 1 April 2024. The subscription price with an option right is EUR 7.88 per share. The subscription price is further reduced in situations mentioned in the terms, which include for example dividends distributed before the subscription of the shares and the amount of the repayment of the distributable non-restricted equity.
Based on the option program 2018, the Board of Directors of eQ Plc has on 25 October 2018 decided to offer for subscription altogether 1 925 000 option rights to key employees of the eQ Group, selected by the Board. More than one fourth of eQ Group’s personnel is included in the option program 2018. The company has a weighty financial reason to issue option rights for subscription, since the option rights are used to encourage the option right recipients to work for increasing the shareholder value and improving eQ group’s financial situation, as well as to encourage the option right recipients to act in the interest of eQ group in the long term. The discount included in the subscription price of the option rights is part of the option right recipient’s variable compensation payable based on year 2018.
The terms of the option program 2018 are included in their entirety as an attachment and they are also available on eQ Plc's website.
Helsinki 26 October 2018
eQ Plc
BOARD OF DIRECTORS
Additional information: Janne Larma, CEO, tel. +358 9 6817 8920
Distribution: Nasdaq Helsinki, www.eQ.fi
eQ Group is a Finnish group of companies specialising in asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and individuals. The assets managed by the Group total approximately EUR 9.0 billion. Advium Corporate Finance, which is part of the Group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets.
More information about the Group is available on our website at www.eQ.fi.
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