Aspocomp Announces Share Issue for Long-Term Incentive Plan
Aspocomp Group Plc Implements Share-Based Incentive
Aspocomp Group Plc recently made a significant decision regarding its long-term incentive strategy. The board has chosen to roll out a directed share issue aimed at rewarding key management personnel. This development aligns with the company’s efforts to enhance its incentive schemes and ensure that exceptional performance is duly compensated.
Overview of the Performance Share Plan
The foundation for this action was laid on July 20, 2022, when the board established a share-based long-term incentive initiative specifically for senior management and key employees. This Performance Share Plan commenced in July 2022 and covers the performance period running through the end of 2024. During this time, performance criteria were successfully met for the CEO of Aspocomp Group Plc.
Details of the Directed Share Issue
Recently, based on the authority granted by the annual general meeting, the board approved a directed share issue aimed at the CEO without any payment required. The determination to proceed with issuing 7,800 new shares deviates from the standard practice of allowing existing shareholders a pre-emptive subscription right.
Justification for Deviation from Subscription Rights
According to Finnish corporate legislation, there are compelling financial reasons that support this deviation. The issuance is intended specifically to provide share rewards as per the long-term incentive plan, ensuring that the interests of all shareholders are still being maintained and that the company continues to thrive.
Future Steps Following Share Registration
These newly issued shares are set to be registered with the Trade Register by March 20, 2025, and the public trading of these shares will begin shortly thereafter, on March 21, 2025. Once registered, Aspocomp will have a total of approximately 6,849,240 shares outstanding, marking an important milestone in their growth trajectory.
Commitment to Stakeholders and Customers
Aspocomp maintains a strong commitment to its stakeholders, ensuring that any financial decisions made are in the best interests of the company and its shareholders. The company has built a robust presence in the PCB (Printed Circuit Board) market, offering comprehensive technology design, logistics, and testing services across the entire lifecycle of electronics products.
Aspocomp’s Global Presence and Operations
The company caters to a diverse clientele that designs and manufactures a range of products in sectors such as telecommunications, automotive, industrial electronics, and security technology. With a focus on exports, Aspocomp has established itself in international markets, positioning itself as a crucial ally in technology development.
Headquarters and Manufacturing Facilities
Headquartered in Espoo, with a state-of-the-art plant located in Oulu, Aspocomp is strategically placed in one of Finland’s central technology hubs. This location benefits the company by providing access to a wealth of resources and talent, contributing to better overall service delivery and customer satisfaction.
The Future of Aspocomp Group Plc
As Aspocomp Group Plc moves forward with this directed share issue to reward executives under the long-term incentive plan, it further solidifies its dedication to promoting a strong corporate culture. By recognizing and rewarding the hard work of its employees, the company enhances its potential for long-term growth and success in the competitive technology landscape.
Frequently Asked Questions
What is the purpose of Aspocomp's directed share issue?
The directed share issue is designed to reward the CEO as part of the long-term incentive scheme established for senior management and key employees.
When will the new shares be registered and traded?
The new shares are expected to be registered by March 20, 2025, with public trading commencing on March 21, 2025.
How many new shares will be issued to the CEO?
A total of 7,800 new shares will be issued to the CEO without any payment required.
Why is there a deviation from shareholders' subscription rights?
This deviation is justified by the compelling financial reasons outlined in Finnish corporate law, aimed at benefiting the company and its shareholders.
What markets does Aspocomp serve?
Aspocomp serves various sectors including telecommunications, automotive, industrial electronics, and security technology, with a significant portion of its sales coming from exports.
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