Conveyance of Caverion Corporation's own shares pursuant to Restricted and Performance Share Plans and the related directed share issue
HELSINKI, Feb. 23, 2021 /PRNewswire/ -- The Board of Directors of Caverion Corporation has decided on a directed share issue without payment for Caverion's Performance Share Plan 2018 - 2020 and Restricted Share Plan 2018-2020 reward payments.
HELSINKI, Feb. 23, 2021 /PRNewswire/ -- The Board of Directors of Caverion Corporation has decided on a directed share issue without payment for Caverion's Performance Share Plan 2018 - 2020 and Restricted Share Plan 2018-2020 reward payments. The decision on the directed share issue without payment is based on the authorisation granted to the Board of Directors by the Annual General Meeting of Shareholders held on 25 May 2020.
In the directed share issue without payment, 63,652 Caverion Corporation shares held by the company have on 23 February 2021 been conveyed to 82 key employees according to the terms and conditions of the plans. No new shares will be issued in connection with the plan and therefore the plan will have no diluting effect. Prior to the directed share issue, Caverion held a total of 2,807,991 treasury shares, of which 2,744,339 treasury shares remain with the company after the conveyance.
Caverion Corporation's Board of Directors decided in December 2015 on establishment of the new share-based long-term incentive plan. In December 2017 the Board of Directors decided on the commencement of a new plan periods for the years 2018 - 2020. Further details about the plans are available in the stock exchange releases announced on 18 December 2015 and 21 December 2017. The key aim of the plans is, among others, to align the interests of the shareholders and the senior management in order to promote shareholder value creation, to commit the 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.
CAVERION CORPORATION
Distribution: Nasdaq Helsinki, principal media, www.caverion.com
For additional information, please contact:
Anne Viitala, Group General Counsel
Tel. +358 40 511 6151
[email protected]
Milena Hæggström
Head of Investor Relations and External Communications
Tel. +358 40 5581 328
[email protected]
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