The Board of Directors of Multitude SE Decided on a New Key Management’s Matching Share Plan for 2025-2028 and Granting Loans to Key Management Team Members
29 Diciembre 2023 - 3:00AM
The Board of Directors of Multitude SE Decided on a New Key
Management’s Matching Share Plan for 2025-2028 and Granting Loans
to Key Management Team Members
The Board of Directors of Multitude SE Decided on a New
Key Management’s Matching Share Plan for 2025-2028 and Granting
Loans to Key Management Team Members
Helsinki, 29.12.2023 – The Board of Directors of
Multitude SE, a fully regulated international growth platform for
financial technology (ISIN: FI4000106299, WKN: A1W9NS) (“Multitude”
or the “company”), has decided on a new matching share plan for the
group’s key management for 2025-2028 (“Matching Share Plan”). The
purpose of the Matching Share Plan is to combine the interests of
the company’s shareholders and the participants in order to
increase the value and performance of the company in the long-term
and to offer extra incentive to participants to benefit from
potential increase in share value and share price development by
offering a share-based incentive plan based on accumulating and
earning shares in the company.
Key Management’s Matching Share Plan
2025–2028
The Matching Share Plan consists of one matching
period, from 01.01.2025 to 31.12.2028. (“Vesting Period”). The
following members of the management team are entitled to
participate to the Matching Share Plan - Mr. Bernd Egger, Chief
Financial Officer, Mr. Kristjan Kajakas, Tribe CEO – Ferratum, Mr.
Antti Kumpulainen, CEO of Ferratum Bank, Mr. Mantvydas Stareika,
Tribe CEO – CapitalBox by Multitude, Mr. Kornel Kabele, Chief
Technology Officer, Mr. Shaun Vella, Chief HR Officer and Ms. Lea
Liigus, Chief Legal & Compliance Officer:
In the plan, the participants are offered an
opportunity to receive company shares in relation to the size of
each participants personal investment made to the shares in the
company in accordance with the terms and conditions of the Matching
Share Plan with the ratio of 1:1 and, further, receive additional
shares in case the value of the Company on the Frankfurt Stock
Exchange exceeds one (1) billion euros and maintains on such a
level for at least three months during the Vesting Period. The
matching shares will be transferred to the management team members
after the end of the Vesting Period, if the conditions for
receiving the shares under the Matching Share Plan have been
fulfilled.
Each member of the key management will be
offered a possibility to take a loan from the company for the
purpose of acquiring shares through personal investment under the
Matching Share Plan. In the aggregate, the loans to be granted to
the key management can amount to up to EUR 1,9 million.
The maximum number of shares that can be
transferred to the key management after the Vesting Period, can
amount to approximately 900 000 shares, calculated at the prevalent
share price. The final number of matching shares depends on the
number of shares acquired personally by the members of the key
management as well as the fulfilment of the prerequisites for
receiving shares.
Granting loans to key management team
members for the purpose of purchasing company shares
In relation to the Matching Share Plan, the
board of directors of Multitude SE has resolved to grant certain
members of its key management team loans for the purpose of such
members purchasing company shares from the market under the
Matching Share Plan. The purpose of granting the loans is to
facilitate purchases of company shares by the relevant members of
the key management team and thereby increase their shareholding in
the company and better align their objectives with those of the
company’s shareholders in developing the company and increasing its
value.
Loans will be granted to Mr. Bernd Egger, Chief
Financial Officer, Mr. Kristjan Kajakas, Tribe CEO – Ferratum, Mr.
Antti Kumpulainen, CEO of Ferratum Bank, Mr. Mantvydas Stareika,
Tribe CEO – CapitalBox by Multitude, Mr. Kornel Kabele, Chief
Technology Officer, Mr. Shaun Vella, Chief HR Officer and Ms. Lea
Liigus, Chief Legal & Compliance Officer, all of whom belong to
the company’s related parties in their respective roles as members
of the company’s key management team. The aggregate maximum amount
of the loans to be granted is EUR 1,9 million.
The principal of the loan that has been drawn
down must be repaid in full in one instalment in 31.12.2028. The
loans carry a fixed interest of 5,5 percentage points which must be
paid annually. The terms and conditions of the loans also feature
customary event of default provisions as well as a bad leaver
provision, i.e., the company’s right to require accelerated
repayment and payment of accrued interest if the borrower defaults
on due payment, breaches the terms of the agreement or the
employment or service relationship of the borrower with the company
or its subsidiary terminates in circumstances where the borrower is
deemed a bad leaver.
Furthermore, the borrowers have undertaken to
pledge the shares to be acquired to the company through a security
over the book-entry accounts in which the shares are held or
otherwise through a security over the shares, subject to the
company’s shareholders’ general meeting authorising the board of
directors to accept such a pledge.
Contact: Lasse Mäkelä Chief
Strategy and IR Officer Phone: +41 79 371 34 17 E-Mail:
Lasse.makela@multitude.com
About Multitude SE: Multitude
is a fully regulated growth platform for financial technology. Its
ambition is to become the most valued financial ecosystem. This
vision is backed by 18+ years of solid track record in building and
scaling financial technology. Through its full European banking
license, profound know-how in technology, regulation,
cross-selling, and funding, Multitude enables a range of
sustainable banking and financial services to grow and scale.
Currently, it has three independent business units on this growth
platform: Ferratum as consumer lender, CapitalBox as business
lender, and SweepBank as a shopping and financial app. Multitude
and its independent units employ over 700 people in 16 countries,
and they together generated EUR 212 million turnover in 2022.
Multitude was founded in 2005 in Finland and is listed in the Prime
Standard segment of the Frankfurt Stock Exchange under the symbol
‘FRU.’ www.multitude.com
Contact Details:Company
Address: Multitude, Ratamestarinkatu 11 A, 00520 Helsinki, Finland,
Tel. +358 20 741 1611, Fax +358 20 741 1612Website URL:
https://www.multitude.com
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