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2021-01-13 08:30:00 CET 2021-01-13 08:30:00 CET SÄÄNNELTY TIETO Ignitis grupė - Notification on material eventCorrection: Decision made regarding the long-term promotion of the managers of AB “Ignitis grupė” group of companies with share options programmeAnnouncement supplemented by the first five paragraphs and updated table of targets. Taking into account the discussions in the Lithuania regarding the application of the management long-term incentive plan which is the first such kind to be applied in a state-controlled company, AB Ignitis Grupė, (hereinafter –the Company) announces the adjusted EBITDA minimum and maximum thresholds for the purposes of share entitlement to the management (table below) and supplements information on other components of the targets. The Company also answers the possible questions in advance. Why is the adjusted EBITDA thresholds and the specification of other targets announced earlier than the Company has communicated so far, in the absence of updated strategic plan for 2021-2024? How the adjusted EBITDA thresholds for 2023 should be addressed in the context of long-term incentive plan? How it will be ensured that the Company will increase its profitability without affecting tariffs for consumers? Preparation of a CO2 reduction plan and achievement of its objectives – why is the unfinished plan included in the long-term goals? AB “Ignitis grupė” (hereinafter – the Company) informs that on 4 December 2020 the Supervisory Board of the Company approved the long-term strategic goals and their indicators for 2020–2023, their achievement evaluation criteria and the maximum number of shares offered to the managers related to the share options programme (hereinafter – the Programme) for the long-term promotion of the managers of the Company’s group of companies (hereinafter – the Group companies; the Group). The Programme approved in accordance with good remuneration and promotion practices of listed companies in order to increase loyalty, pursuit of long-term sustainable results, motivation to increase the share value growth. The resolve regarding the Programme was presented in the Prospectus of the Initial Public Offering (IPO) as well as in the AB “Ignitis grupė“ Share Allocation Rules (hereinafter – the Rules), which were approved on 16 September 2020 by the shareholder, published on the website of the Company (https://ignitisgrupe.lt/en/management-bodies). The Programme of long-term promotion of the managers of the Group with share options will apply to nine key managers of the Group: the Board members of the Company and the CEO of four companies of the Group (ESO, Ignitis, Ignitis Gamyba and Ignitis Renewables). The total maximum number of shares offered for the period of 2020–2023 is 9497. The Programme determines the share allocation in 2024, after the long-term strategic goals (indicators) related to the strategic plan of the Company for 2020–2023 are achieved. After the retention period for the share options, the managers will be able to choose implement their right to own shares of the Group. The exact number of shares will be determined (calculated) considering the achievement percentage of long-term strategic goals and their indicators for the period of 2020–2023:
The key managers entered into Option Agreements in 2020. The Company announced about the concluded Option Agreements in a separate notice (link). For more information please contact: Artūras Ketlerius |
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