Helsinki, 2017-10-30 15:15 CET (GLOBE NEWSWIRE) --
TAALERI PLC STOCK EXCHANGE RELEASE 30 October 2017 at 16:15
Taaleri Plc’s Board of Directors decides on key personnel incentive scheme
Taaleri Plc’s Board of Directors has made the decision to establish a new share-based incentive scheme for the Group’s key personnel. The purpose of the scheme is to bring together the goals of owners and key personnel in order to increase the company’s value in the long term as well as commit the key personnel to implementing the company strategy and provide them with a competitive bonus system based on the earning and accrual of the company’s shares.
The share bonus plan has three earning periods lasting three years each: 1 November 2017–31 October 2020, 1 November 2018–31 October 2021 and 1 November 2019–31 October 2022. The Board of Directors will decide on the earning criteria and the targets set for each earning criterion at the beginning of each earning period.
For the 2017–2020 earning period, the scheme’s target group includes approximately 10 key persons, including the members of the Group’s management team. Any bonuses awarded under the scheme for the 2017–2020 earning period will be based on the gross yield of Taaleri Plc's share. The bonuses paid for the 2017–2020 earning period will correspond with the value of no more than 180,000 Taaleri Plc shares, including the part paid in cash.
Any bonuses awarded under the scheme for the 2017–2020 earning period will be paid after the end of the earning period within approximately four years in four instalments. The bonus will be paid partly in the company’s shares and partly in cash. The cash part is intended to cover the taxes and tax-like charges incurred from the bonus to the key personnel. In principle, if a key person’s employment contract or employment relationship ends before the payment of the bonus, no bonus is paid. Shares paid as a bonus may not be surrendered to shareholders during the one-year waiting period.
The key personnel must retain ownership of the net shares paid to them based on the scheme until their shareholding in the company corresponds with the value of their gross annual salary. They must own this number of shares for as long as their employment contract or employment relationship in a Group company continues.
Board of Directors
Peter Fagernäs, Chairman of the Board, tel. 358 50 523 5831
Taaleri in brief
Taaleri is a financial group whose parent company Taaleri Plc is listed on Nasdaq Helsinki's main market. The Taaleri Group comprises three business areas: Wealth Management, Financing, and Energy. Taaleri provides services to institutional investors, companies and private individuals. The Group’s operational subsidiaries are: Taaleri Wealth Management Ltd and its subsidiaries, Taaleri Private Equity Funds Ltd Group, Taaleri Investments Ltd Group, Taaleri Energia Oy and Garantia Insurance Company Ltd. In addition, Taaleri has associated companies Fellow Finance Plc, which offers peer-to-peer lending services, and Inderes Oy, which produces analyses and marketing information for investors.
At the end of June 2017, Taaleri had assets under management totalling EUR 5.3 billion and 4,300 wealth management customers. Taaleri Plc has over 3,200 shareholders. Taaleri's operations are supervised by the Finnish Financial Supervisory Authority.
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Taneli Hassinen, Head of Communications and IR, firstname.lastname@example.org, tel. 358 40 5043321