Robit Oyj : PLC'S BOARD OF DIRECTORS HAS DECIDED ON A PERFORMANCE SHARE PLAN 2025-2027 FOR ITS KEY PERSONNEL
June 25, 2024 at 11:10 am EDT
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Published: 2024-06-25 17:00:00 CEST
Robit Oyj
Other information disclosed according to the rules of the Exchange
ROBIT PLC'S BOARD OF DIRECTORS HAS DECIDED ON A PERFORMANCE SHARE PLAN 2025-2027 FOR ITS KEY PERSONNEL
ROBIT PLC STOCK EXCHANGE RELEASE 25 JUNE 2024 AT 6.00 P.M. EEST
ROBIT PLC'S BOARD OF DIRECTORS HAS DECIDED ON A PERFORMANCE SHARE PLAN 2025-2027 FOR ITS KEY PERSONNEL
The Board of Directors of Robit Plc has on 25 June 2024 decided on a performance share plan ("plan") for its key employees. The purpose of the plan is to align the interests of the company's shareholders and the key employees to increase the company's value in the long-term, to commit the key employees and to steer them towards achieving the company's strategic targets, as well as to offer them a competitive long-term incentive scheme. The plan covers approximately 12 key employees.
The plan comprises three elements: own investment of the key employee, reward shares by the company (stay matching) and performance-based additional share plan (performance matching). The performance-based additional share plan consists of three one-year performance periods: financial years 2025, 2026 and 2027. The Board of Directors decides the targets for each financial year separately no later than in January of the respective year.
The company's stay matching shares and performance matching shares will be paid in April 2028. If all three elements of the plan are fully met as specified in the program and in accordance with the targets set by the company's Board of Directors, a total of 303,750 shares will be paid as a reward, which corresponds to 1.43 percent of the company's current share capital.
ROBIT PLC
Board of Directors
Further information:
Markku Teräsvasara, Chairman
+358 40 641 8474
markku.terasvasara@gmail.com
Distribution:
Nasdaq Helsinki Ltd
Key media
www.robitgroup.com
Robit is the expert focused on high quality drilling consumables for mining and construction markets globally to help you drill Further. Faster. Robit strives to be world number one company in drilling consumables. Through our high and proven quality Top Hammer, Down the Hole and Geotechnical products, and our expert services, we deliver saving in drilling costs to our customers. Robit has its own sales and service points in seven countries and an active distributor network through which it sells to more than 100 countries. Robit's manufacturing units are located in Finland, South Korea, and the UK. Robit's shares are listed on Nasdaq Helsinki Ltd. Further information is available at www.robitgroup.com.
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Robit Plc is a Finland-based company that develops, produces and markets button bits for rock drilling and casing systems for ground drilling. The Company's products can be divided into top hammer drilling consumables, which are used for rock drilling, and down-the-hole (DTH) drilling consumables, which are used for ground drilling. Its rock drilling offering comprises threaded button bits, drifter rods, extension rods, coupling sleeves, pilot adapters, and reamers. The components for ground drilling include pilots, rings, and impact shoes. The Company also offers site investigation, piling, bench drilling, production drilling, drifting and tunneling, forepoling, anchoring, horizontal drilling, micropiling and underpiling, and water well drilling. The Company has sales companies in Finland, South Korea, the United States, Russia, South Africa and Peru, and sales offices in Thailand and China. Its subsidiaries include Bulroc Ltd and Drilling Tools Australia Pty Ltd, among others.