Tamtron Group Plc | Company Release | June 18, 2024 at 14:00:00 EEST
The Board of Directors of Tamtron Group Plc has resolved to establish a new share-based incentive plan for key employees of the group. The purpose of the plan is to align the interests of the company’s shareholders and key employees to increase the company’s value in the long-term, to commit key employees to implement the company's strategy, objectives and long-term interest and to offer them a competitive incentive plan based on earning and accumulating the company´s shares.
The Performance Share Plan 2024–2027 consists of one performance period, covering approximately the period from the second half of 2024 to the end of 2027. The performance period includes three measurement periods, covering the second half of 2024 and financial year 2025, and financial years 2026 and 2027.
In the plan, the target group has an opportunity to earn Tamtron Group shares based on performance. The performance criteria of the plan are tied to Tamtron’s Revenue, EBITDA % and mScales weighing service Revenue. The potential rewards from the plan will be paid after the end of the performance period.
The value of the rewards to be paid on the basis of the plan corresponds to a maximum total of 280 000 shares of Tamtron Group, including also the proportion to be paid in cash. The target group in the performance period 2024—2027 consists of key employees, including the members of the Executive Team and the CEO.
The potential reward will be paid partly in Tamtron Group’s shares and partly in cash. The cash proportion of the reward is intended to cover taxes and statutory social security contributions arising from the reward to the key employee. As a rule, no reward will be paid if the key employee’s employment or director contract terminates before the reward payment.
The Executive Team member must hold 50 per cent of the received shares, until the value of the Executive Team member’s total shareholding in Tamtron Group equals to 50 per cent of their annual base salary for the calendar year preceding the payment of the reward. Such number of Tamtron Group shares must be held as long as the membership in the Executive Team or the position as the CEO continues.
Further enquiries
Mikko Keskinen, CEO, Tamtron Group Oyj
mikko.keskinen@tamtron.fi
Certified advisor, Translink Corporate Finance Oy
Tel. +358 40 091 8855
jari.lauriala@translinkcf.fi
About Us
Tamtron is an international provider of weighing and dosing technology and digital services for handling material flows. Tamtron’s solutions help customers operate in a more efficient manner in over 60 countries and in all major industries, including civil engineering, mining, forestry, waste management and recycling, ports, transport and logistics, process and manufacturing. In addition, Tamtron also provides its customers with comprehensive life cycle services, including verification, maintenance and spare parts services.
Tamtron has two offices in Finland, the headquarters in Tampere and Lahti office, and subsidiaries in eight European countries. In addition, Tamtron’s solutions are offered by international partner network. Tamtron Group employs approximately 270 professionals in Finland, Sweden, Norway, Denmark, Germany, Czech Republic, Slovakia, Poland and Estonia.
Tamtron's net sales was EUR 54,9 million and operating profit EUR 2,5 million in the financial period ending on December 31, 2023. In fiscal year 2023, Tamtron employed on average 269 people.
For more information, visit: www.tamtron.com
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Tamtron Group Plc establishes a new share-based incentive plan for key employees
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