WithSecure Announces Strategic Share Issuance for Growth
WithSecure Announces a New Share Issuance Plan
WithSecure Corporation has recently taken a significant step to enhance its growth strategy through a new share issuance plan. This decision was made during the Annual General Meeting, where critical resolutions were passed with the aim of aligning the company's interests with those of its shareholders.
Details of the Share Issuance
At the Annual General Meeting held on 18 March 2025, the shareholders authorized the Board of Directors to issue a maximum of 17,609,870 shares. This level of flexibility allows the Board to adapt to the evolving needs of the market and the company's operational requirements. The resolution also specifies that up to 2,000,000 shares can be allocated for share-based incentive schemes, which are essential for attracting top talent and fostering company loyalty among staff.
Compensation for Board Members
As part of this new share issuance, the Board of Directors will receive a total of 128,221 shares as compensation. This approach ensures that the directors remain motivated and aligned with shareholder interests, as their compensation is tied directly to the performance of the company.
Incentives for Talent Retention
In addition to the compensation for the Board, the plan includes the distribution of 52,224 shares to participants of the Restricted Share Plan for 2022-2024. This plan is critical for retaining skilled professionals and promoting a culture of performance within the organization. By incentivizing employees, WithSecure aims to boost motivation and commitment, fostering a more dynamic work environment.
Significance of the New Issuance
The rationale behind this issuance, deviating from the shareholders’ pre-emptive rights as described in Finnish law, is grounded in compelling financial reasons. The shares will serve as a part of the remuneration for the Board as well as for other incentive structures, thus aligning the interests of the management team with those of the shareholders. This alignment is vital for the growth and long-term success of WithSecure Corporation.
Communication of Changes
After the share issuance, any changes concerning the company’s owned shares will be communicated to shareholders promptly. Transparency in these transactions is crucial for maintaining shareholder trust and confidence in the company's strategic directions.
Contact Information
For further inquiries, stakeholders can reach out to Laura Viita, VP of Controlling, Investor Relations, and Sustainability at WithSecure Corporation. She can be contacted at +358 50 487 1044 or through email at investor-relations@withsecure.com. Laura is dedicated to providing timely and thorough updates regarding the company's strategic initiatives and financial matters.
Frequently Asked Questions
What is the purpose of the new share issuance by WithSecure?
The share issuance aims to enhance company growth, offer competitive compensation to the Board, and retain key employees through incentive schemes.
How many shares can WithSecure issue under the new plan?
WithSecure's Board can issue a maximum of 17,609,870 shares, with up to 2,000,000 reserved for share-based incentives.
Who will benefit from the share issuance?
Both the Board of Directors and participants of the Restricted Share Plan will benefit from the share issuance.
What is the financial rationale for the share issuance?
The financial rationale is tied to aligning the interests of management with shareholders and enhancing competitiveness in the market.
Who can I contact for more information about this share issuance?
For information, you can contact Laura Viita at WithSecure Corporation via email at investor-relations@withsecure.com.
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