No. 3 2020 Grant of restricted shares to the Executive Board and management team in Solar A/S
Announcement 3 2020 · 20. February, 2020
Solar’s Board of Directors will grant a total of 7,664 restricted shares in 2020 at a total market value of DKK 2.4m.
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 2020.
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 319.39 based on the average price on Nasdaq Copenhagen the first 10 business days after publication of Annual Report 2019. A total amount of 7,664 restricted shares will be granted.
The restricted shares vest three years after the time of granting, meaning that this grant of shares vests in 2023. At this point, the holder may exercise the restricted share granting.
Today, share options outstanding total 24,405 and restricted shares outstanding total 18,375.
General information on Solar’s incentive scheme is available on our website: www.solar.eu/investor/policies
Yours faithfully,
Solar A/S
Jens Borum
Chairman of the Board of Directors
Contacts:
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 is a leading European sourcing and services company mainly within electrical, heating and plumbing, ventilation and climate and energy solutions. Our core business centres on product sourcing, value-adding services and optimisation of our customers’ businesses.
We facilitate efficiency improvement and provide digital tools that turn our customers into winners. We drive the green transition and provide best in class solutions to ensure sustainable use of resources.
Solar Group is headquartered in Denmark, generated revenue of approx. DKK 11.7bn in 2019 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.
Disclaimer
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.
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