The Board of Directors of NoHo Partners Plc has resolved to extend the duration of the long-term share-based incentive plan for the key employees and on the third earning period of the long-term incentive plan
30 Noviembre 2021 - 3:45AM
The Board of Directors of NoHo Partners Plc has resolved to extend
the duration of the long-term share-based incentive plan for the
key employees and on the third earning period of the long-term
incentive plan
NoHo Partners Plc
STOCK EXCHANGE RELEASE 30 November 2021 at
11:45The Board of Directors of
NoHo Partners Plc has resolved to
extend the duration of the long-term share-based incentive plan for
the key employees and on the third earning period of the long-term
incentive planNoHo Partners Plc's Board of Directors has
resolved to amend the terms of the long-term incentive plan for the
company's key employees due to the changes in the company’s
business environment caused by the Covid-19 pandemic. The terms of
the long-term incentive plan will be amended by extending the
duration of the long-term incentive plan by one year until 2024 and
adding a new earning period. The establishment of the long-term
incentive plan has been announced on 30 November 2018.NoHo Partners
Plc's Board of Directors has resolved on the third earning period
of the long-term incentive plan for the company's key employees.
The third earning period is 13 months, starting on 1 December 2021,
and ending on 31 December 2022. The reward criteria for the third
earning period are based on NoHo Partners Plc’s EBIT. There are
eight participants in the long-term incentive plan’s third earning
period.A maximum of 281.828 reward shares could be awarded for the
third earning period. The value of the maximum reward at the
average share price on the trading day preceding this stock
exchange release would be approximately EUR 2.2 million. The Board
of Directors estimates that if the reward is fully paid in shares,
the maximum dilutive effect on the number of the company’s
registered shares for the third earning period is 1.44%.
NoHo Partners Plc
Board of Directors
Further information:Aku Vikström,
CEO, tel. +358 44 011 1989Jarno Suominen, Deputy CEO, tel. +358 40
721 5655
Distribution:Nasdaq HelsinkiMajor
mediawww.noho.fi/en
NoHo Partners Plc is a Finnish
group established in 1996, specialising in restaurant services. The
company, which was listed on NASDAQ Helsinki in 2013 and became the
first Finnish listed restaurant company, has continued to grow
strongly throughout its history. The Group companies include some
250 restaurants in Finland, Denmark and Norway. The well-known
restaurant concepts of the company include Elite, Savoy, Teatteri,
Stefan’s Steakhouse, Palace, Löyly, Hanko Sushi, Friends &
Brgrs and Cock’s & Cows. Depending on the season, the Group
employs approximately 2,100 people converted into full-time
employees. The Group aims to achieve turnover of MEUR 400 by the
end of 2024. The company’s vision is to be the leading restaurant
company in Northern Europe.
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