GOFORE PLC COMPANY ANNOUNCEMENT 13 FEBRUARY 2019 AT 14:15
Gofore Plc resolved to launch a new plan period in the employee share savings plan
The Board of Directors of Gofore Plc has resolved on the new plan period 2019-2020 of CrewShare share savings plan established in 2018. The details of the new plan period will mainly be conformed to follow the previous plan period's particulars.
A total of approximately 180 employees have become shareholders in Gofore through the CrewShare Plan since its initiation.
The new plan period will commence on 1 March 2019 and end on 29 February 2020. The Plan is offered to approximately 500 Gofore employees. Invited employees will be offered an opportunity to save a proportion of their regular salaries (EUR 50-400 per month) and use the savings for the acquisition of the company's shares at a 10% discount. The accrued savings will be used for the acquisition of the Gofore shares biannually following the publications of the half-year report in September 2019 and financial statements for the year 2019 in March 2020. Participation in the Plan is voluntary, and an employee will participate in the Plan for one plan period at a time.
After a holding period Gofore will grant the employees participating in the Plan, as a gross reward, one free matching share against every three shares acquired with savings. The prerequisites for receiving matching shares are that a participant holds the acquired shares for the entire holding period, and that his or her employment at Gofore has not terminated before the end of the holding period. The holding period will end on 28 February 2022.
The total amount of all savings of the plan period 1 March 2019-29 February 2020 may not exceed EUR 1 million, which corresponds to approximately 138 000 shares calculated at a share price of EUR 8.06 per share closed on 12 February, 2019.
Any dividends to be paid on shares acquired with savings and on matching shares given in the Plan will automatically be reinvested into acquisition of additional shares on the next potential acquisition date. These shares will have an equal right to matching shares.
Matching shares will be paid partly in the company's shares and partly in cash as soon as possible after the end of the holding period. The cash proportion is intended to cover taxes and tax-related costs arising from the matching shares to a participant. The matching shares are freely transferable after their transfer on the participant's book-entry account.
The intention is that the company will resolve on share issues to subscribe for the new shares to be acquired with the accumulated savings at a 10% discount. The intention is that the company will resolve on the share issues before the acquisition of shares.
The Board of Directors will resolve on the following plan period and its details separately.
Gofore Plc launches employee share savings plan (28 September 2018), https://cws.huginonline.com/G/174618/PR/201809/2218205_5.html
Ali U. Saadetdin, Chairman of the Board of Directors, Gofore Plc
tel. +358 40 844 4201
Timur Kärki, CEO, Gofore Plc
Tel. +358 40 828 5886
Certified Adviser: Evli Bank Plc, tel. +358 40 579 6210
Gofore Plc is a Finnish digitalisation specialist with international growth plans. We're made up of some 500 people across Finland, Germany, Spain, United Kingdom and Estonia - top experts in our industry who are our company's heart, brain, and hands. We use consulting, coding and design as tools to incite positive change. We care for our people, our customers, and the surrounding world. Our values guide our business: Gofore is a great workplace that thrives on customer success. In 2018, our net sales were EUR 50,6 million. Gofore Plc's shares are quoted in the First North Finland market administered by Nasdaq Helsinki Ltd. Learn to know us better at www.gofore.com.