Ramirent Plc Stock Exchange Release 12 December 2018, at 15:50 EET
Ramirent Plc’s Board of Directors have resolved on two new long-term incentive plans: A Performance Share Plan 2019-2021 for the members of the Executive Management Team and a Deferred Incentive Plan 2019 for other key employees of the company.
Performance Share Plan 2019-2021 for the Executive Management Team
The aim of the Performance Share Plan 2019-2021 for the Executive Management Team members is to align the objectives of the shareholders and the Executive Management Team Members in order to increase the value of the company in the long-term. It also targets to retain the Executive Management Team members at the company, and to offer them a competitive reward plan based on earning and accumulating the company’s shares. The potential reward from this plan will be paid partly in the company’s shares and partly in cash in 2022.
The potential reward from the Performance Share Plan 2019-2021 is based on the Group’s Earnings per Share (EPS) in 2019 as well as on the Group’s average Return on Capital Employed (ROCE-%) development in 2019-2021.
The rewards to be paid on the basis of the Performance Share Plan 2019-2021 correspond to an approximate maximum total of 270,000 Ramirent Plc shares including the proportion to be paid in cash.
Deferred Incentive Plan 2019 for other key employees of the company
The Board of Directors of Ramirent Plc has approved a new Deferred Incentive Plan 2019 to support the implementation of the company’s strategy and to offer key employees a competitive reward and retention program. The Deferred Incentive Plan includes one earning period, calendar year 2019, with a lock-up period of two years whereby the potential reward will be paid in cash in 2022.
The incentive plan includes approximately 150 key employees. The potential reward from the incentive plan for the earning period 2019 will be based on the participant’s short-term incentive plan targets. The maximum reward of the Deferred Incentive Plan 2019 to be paid in 2022 will amount up to approximately EUR 2.6 million. The members of the Executive Management Team are not included in the target group of the Deferred Incentive Plan.
Further information:
Terhi Jokinen, Group Communications Manager, tel. +358 207 502 086
RAMIRENT is a leading service company offering equipment rental for construction and other industries. Our mission is to help our customers gear up on safety and efficiency by delivering great equipment and smooth service with a smile. We have 2,900 co-workers at 300 customer centers in northern and eastern Europe. In 2017, Ramirent Group sales reached a total of EUR 724 million. Ramirent is listed on NASDAQ Helsinki.
Ramirent – Gear Up. Equipment rental at your service
Distribution: Nasdaq Helsinki, the main news media, www.ramirent.com