Fiskars Corporation offers the ownership plan for the company’s management to new participants
Fiskars Corporation
Stock exchange release
February 8, 2024 at 9.00 a.m. EET
Fiskars Corporation offers the ownership plan for the company’s management to new participants
On 7 February 2023, it was announced that the Board of Directors of Fiskars Corporation (Board) had decided to launch the Fiskars Ownership Plan 2023 (Plan) directed to the company’s President and CEO, Group Leadership Team and certain key employees determined by the Board. The Board has now resolved to offer the Plan to a few additional participants. In the Plan, the participants are given an opportunity to receive free matching shares for their personal investment in Fiskars shares. The rewards based on the Plan will be paid to both current and new participants after the end of the matching period in 2026.
The Plan was established to encourage the target group to invest in Fiskars shares. The aim is to align the objectives of the shareholders and the management for increasing the value of the company in the long-term, to commit the target group to the company and to offer a competitive incentive program.
For reference purposes only (noting that the market value of the shares will constantly change), calculated based on the volume weighted average price of Fiskars share on 7 February 2024, the estimated total value of the Plan, including the new participants, is approximately EUR 5.7 million.
Matching shares will be paid as new shares or treasury shares held by to company, as decided later by the Board.
Directed Share Issue against Payment for the new participants of Ownership Plan 2023
A maximum total of 25,786 treasury shares held by the company will, in deviation from the shareholders’ pre-emptive right, be offered in the share issue for subscription to the new participants of Fiskars Ownership Plan 2023. The company has a weighty financial reason for the deviation from the shareholders’ pre-emptive right since the purpose of the share issue is to encourage the target group to acquire and own the company’s shares as a part of the Plan.
The subscription period of the shares will be February 12, 2024 – February 21, 2024. The subscription price for the shares will be EUR 17.45 per share, equal to the trade volume weighted average price of Fiskars’ share on Nasdaq Helsinki Ltd during the period January 1, 2024 – January 31, 2024. The shares must be paid upon subscription. The subscription price will be credited to the company’s reserve for invested unrestricted equity.
The resolution on the directed share issue against payment is based on the authorization by the Annual General Meeting of Shareholders held on 15 March 2023.
FISKARS CORPORATION
Further information:
Essi Lipponen, Director, Investor Relations, tel. +358 40 829 1192
About Fiskars Group
Fiskars Group (FSKRS, Nasdaq Helsinki) is the global home of design-driven brands for indoor and outdoor living. Our brands include Fiskars, Georg Jensen, Gerber, Iittala, Moomin Arabia, Royal Copenhagen, Waterford, and Wedgwood. Our brands are present in more than 100 countries and we have close to 450 own stores. We have approximately 7,000 employees and our global net sales in 2023 were EUR 1.1 billion.
We are driven by our common purpose: Pioneering design to make the everyday extraordinary. In 2024, we are celebrating our 375th anniversary. Since 1649, we have designed products of timeless, purposeful, and functional beauty, while driving innovation and sustainable growth.
Read more: fiskarsgroup.com