EVLI BANK PLC STOCK EXCHANGE RELEASE JUNE 14, 2016, AT 5.00 PM
Evli Bank Plc's Board of Directors has decided on a new stock option plan
Pursuant to the authorization issued by the Annual General Meeting on March 8, 2016, Evli Bank Plc's Board of Directors has decided to grant stock options to the key employees of the company and its subsidiaries.
The maximum total of stock options to be given is 233,000 and these confer entitlement to subscribe a maximum total of 233,000 new Evli Bank Plc series B shares. The stock options are to be marked with the code 2016. The stock options will not be issued in the book entry system.
The stock options are granted for no consideration to key employees who are in the service of or being recruited into the service of the Evli Group. In deviation from shareholders' pre-emptive subscription, the options are granted to key employees designated by the company's Board in order to increase the key employees' commitment and work motivation. There is a good financial reason from the company's perspective for granting stock options because the stock options are designed to be a part of the incentive and commitment system for the Evli Group's key employees.
The company's Board decides upon the distribution of stock options to the Evli Group's key employees. The Board also decides upon the redistribution of any stock options that may later be returned.
Each stock option entitles its holder to subscribe one (1) new Evli Bank Plc series B share. The share subscription period starts on June 1, 2020, and ends on August 31, 2020. The subscription price corresponds to 30% above the company's volume weighted share price during thirty (30) days trading period from June 15, 2016 to July 14, 2016 at Nasdaq Helsinki Ltd.
The subscription price of a share subscribed with a stock option may be less under special cases referred to under item 8. However, the subscription price of a share subscribed for with a stock option is always at least EUR 80% of the thirty-day average rate that formed the original subscription price. The subscription price of the shares is entered in full in the unrestricted equity fund.
The Terms and Conditions of Evli Bank Plc's Option Program 2016 are attached to this release.
Evli Bank PLC
Board of Directors
For additional information, please contact
Juho Mikola, CFO, Evli Bank Plc, tel. +358 (0)9 4766 9871, juho.mikola@evli.com
Evli Bank Plc in brief
Evli is a private bank that specializes in investment and helps private persons and institutions increase their wealth. The Company offers asset management services, various services related to the capital markets, such as brokerage of equity and other investment products, market making and investment research, and Corporate Finance services.
Distribution:
Nasdaq Helsinki Ltd, main media, www.evli.com
Appendix:
Terms and Conditions of Evli Bank Plc's Option Program 2016
