No. 8 2018 Grant of restricted shares to the Executive Board and management team in Solar A/S
Solar's Board of Directors will grant a total of 4,311 restricted shares in 2018 at a total market value of DKK 1.7m.
In accordance with Solar's remuneration policy and general guidelines for incentive-based remuneration, the Board of Directors decided to grant restricted shares to the Executive Board and management team in 2018. Overall, the grant of shares is covered by the same terms as the previous grants of share options.
Restricted shares are granted for no consideration and provide the holder with a right and an obligation to receive B shares at a nominal value of DKK 100. The grant price is fixed at DKK 399.19 based on the average price on Nasdaq Copenhagen the first 10 business days after publication of Annual Report 2017. A total amount of 4,311 restricted shares will be granted.
The restricted shares vest three years after the time of granting, meaning that this grant of shares vests in 2021. At this point, the holder may exercise the restricted share granting.
Today, apart from the granted restricted shares, share options outstanding total 74,935.
General information on Solar's incentive scheme is available on our website: www.solar.eu/investor/policies
Chairman of the Board of Directors
Chairman of the Board of Directors Jens Borum:
Tel. +45 7930 0000
Director, Stakeholder Relations Charlotte Risskov Kræfting:
Tel. +45 4034 2908
Facts about Solar
Solar Group is a leading sourcing and services company. Our core business centres on product sourcing, value-adding services and optimisation of our customers' businesses.
Being a sourcing and services company, we focus on each individual customer. We always strive to understand our customers' unique and genuine needs in order to provide relevant, personal and value-adding services, turning our customers into winners.
Solar Group is headquartered in Denmark, generated revenue of more than DKK 11bn in 2017 and has approx. 3,000 employees. Solar is listed on Nasdaq Copenhagen and operates under the short designation SOLAR B. For more information, please visit www.solar.eu.
This announcement was published in Danish and English today via Nasdaq Copenhagen. In the event of any inconsistency between the two versions, the Danish version shall prevail.