Nets A/S: Share-based incentive programmes
(Thomson Reuters ONE) -
Company announcement Nets A/S
No. 9/2016 Lautrupbjerg 10
DK-2750 Ballerup
www.nets.eu
Company Registration no. 37427497
23 September 2016
Share-based incentive programmes
With reference to the offering circular published by Nets A/S ("Nets") on 13
September 2016 and in accordance with Nets' Remuneration Policy and Incentive
Guidelines, as adopted at the extraordinary general meeting held on 9 September
2016, Nets has today implemented a new long-term incentive programme (the
"LTIP") and a retention programme (the "Retention Programme") for the Executive
Committee and certain other employees. Additionally, Nets plans to award a
number of shares to certain employees across the Nets group (the "Employee IPO
Award").
The LTIP
Under the LTIP, the Executive Committee and certain other employees may be
eligible to receive share options free of payment. A maximum of 0.75% of Nets'
share capital may be granted in the form of share options annually in connection
with the annual general meeting. Generally, the share options will vest over a
three-year performance period based on achievement of certain financial targets
as determined by the Board of Directors. The first grant of share options has
taken place on 23 September 2016 in connection with the initial public offering
and admission to trading and official listing of Nets' shares on Nasdaq
Copenhagen A/S (the "IPO"). Accordingly, the first performance period under the
LTIP will be less than three years in total as performance will be measured over
the course of the financial years 2016, 2017 and 2018. The financial targets for
the first grant of share options will be compounded organic growth and
accumulated EBITDA before special items. These two financial targets will be
weighted equally and vesting will take place on a sliding scale depending on the
level of target achievement; however, a minimum level of performance will have
to be achieved for vesting to take place. Upon vesting, each vested share option
may be exercised over a two-year period during open trading windows following
publication of Nets' financial reports. Each vested share option entitles the
holder to purchase one share in Nets at a specific exercise price. The exercise
price of the first grant under the LTIP will be DKK 165 (being the offer price
in the IPO plus 10%). If vested share options are not exercised within the two-
year exercise period, they will lapse without compensation.
The Retention Programme
The Retention Programme is a non-recurring programme for the Executive Committee
and certain other employees in order to bridge the intermediate period between
completion of the IPO and the end of the first vesting period under the LTIP.
The participants in the Retention Programme may be granted shares in Nets at the
end of a 720-day period after the IPO for an amount equal to 24 months' base
salary, provided, among other things, that they have each retained a certain
proportion of their existing shareholding in Nets.
The Employee IPO Award
In connection with the IPO, around 2,500 employees in the Nets group will each
be awarded shares in Nets worth DKK 25,000.
Nets may cover its obligations to deliver shares under the LTIP and the
Retention Programme by issuing new shares and/or bonus shares as well as by
acquiring shares in the market to be held in treasury for these purposes. The
Nets shares to be delivered under the Employee IPO Award will be covered by
issuing bonus shares.
Reference is also made to the offering circular published by Nets on 13
September 2016 for further information on the incentive programmes.
- Ends -
For additional information, please contact
Nets A/S
Karsten Anker Petersen, Head of Group Communications +45 29 48 78 83
Lars Østmoe, Head of Investor Relations +47 913 47 177
9. Share-based_incentive_programmes_(UK):
http://hugin.info/173023/R/2044085/763258.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nets A/S via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 23.09.2016 - 09:34 Uhr
Sprache: Deutsch
News-ID 496608
Anzahl Zeichen: 5094
contact information:
Town:
Ballerup
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 229 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Nets A/S: Share-based incentive programmes"
steht unter der journalistisch-redaktionellen Verantwortung von
Nets A/S (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
