Nets A/S: Grant of share options under the long-term incentive programme
(Thomson Reuters ONE) -
Company announcement Nets A/S
No. 3/2017 Lautrupbjerg 10
DK-2750 Ballerup
www.nets.eu
Company Registration no. 37427497
28 February 2017
Grant of share options under the long-term incentive programme
The Board of Directors of Nets A/S ("Nets") has decided to grant 456,094 share
options to the Executive Committee and 1,046,960 share options to certain other
employees under Nets' long-term incentive programme ("LTIP"). The share options
have been granted free of payment and on terms and conditions in accordance with
Nets' Remuneration Policy and Incentive Guidelines.
The share options will vest over a three-year performance period based on
achievement of financial targets pertaining to compounded organic growth and
accumulated EBITDA before special items, as determined by the Board of
Directors. 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 an
exercise price of DKK 133.2 per share option. If vested share options are not
exercised within the two-year exercise period, they will lapse without
compensation. The total number of share options, which may be exercised
corresponds to 0.75 % of Nets' total share capital; however, in case of over-
performance in terms of target achievement, the total number of share options,
which may be exercised can be up to 20 % higher.
The theoretical market value of the share options granted is DKK 20.1 million
(calculated using the Black Scholes model). The key assumptions for the
calculation of the theoretical market value are; peer group volatility of 25%,
average duration of 4 years, risk free interest rate of 0.46%, dividend yield of
0.80% and average retention rate of 80%.
Nets will cover its obligation to deliver shares upon exercise of vested share
options by using shares held in treasury.
- Ends -
For additional information, please contact
Nets A/S
Karsten Anker Petersen, Head of Group Communications +45 29 48 78 83
Lars Oestmoe, Head of M&A and Investor Relations +47 913 47 177
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: 28.02.2017 - 08:44 Uhr
Sprache: Deutsch
News-ID 526935
Anzahl Zeichen: 3307
contact information:
Town:
Ballerup
Kategorie:
Business News
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