AUGA group, AB progresses with its employee motivation scheme through share options
April 21 2023 - 12:20AM
AUGA group, AB progresses with its employee motivation scheme
through share options
The Agtech company and organic food producer AUGA group, AB
(hereinafter the Company) is progressing with its employee
motivation scheme through share options. The Company has made a
decision to allocate a further 2.18 million shares to the employees
and members of management bodies of the Company and its
subsidiaries (hereinafter Employees). In total, since 2019 the
Company will have allocated 11 million shares to its Employees. It
also plans to assign a further more than 3 million shares for the
same purpose in the future.
The Company launched its first option programme in spring 2019.
Almost 2.55 million of shares were allocated to Employees in the
first stage and additional 2.23 million of shares in 2020, 2.38
million of shares in 2021, 1.65 million of shares in 2022.
Employees who signed the share option contracts in 2020, this
year will have the right to vest them. As previously announced, the
Company will increase its share capital by issuing new ordinary
registered shares and will transfer them free of charge for the
participants of share option programme 2020 after this decision is
approved at the Ordinary General Meeting of Shareholders to be held
on April 28, 2023.
The programme is being continued this year with the allocation
of a further 2.18 million of shares.
A motion to approve an additional 2.24 million of shares for
future allocation, so that total unallocated number of Company
shares intended for the option programme would reach 3.04 million
of shares, has been included in the agenda for the upcoming regular
general meeting of the shareholders of the Company.
If all accumulated reserves are allocated to employees and new
shares are issued, they will amount to 6.12% of the equity of the
Company.
"Employees who have signed contracts of stock options become
more involved in the group's activities, improvement of its
results, feel motivated and become more loyal. Research conducted
in AUGA group companies shows that 92 percent of employees who have
signed contracts of stock options feel and understand their role as
professionals in the group - knowing that they have contracts of
share options is not only a pleasant evaluation for them, but is
also a motivation to strive for better results”, says Kęstutis
Juščius, CEO of AUGA group, AB. The Company's share option
programme is aimed at increasing Employee motivation and
engagement. Shares are primarily granted to the Employees who make
the highest impact on the success of the Company’s operations.
Under existing agreement conditions, Employees are entitled to
receive a specified number of Company shares after a period of 3
years. These shares are distributed to the Employees free of charge
and funded by a Company reserve that has been formed for that
purpose.
CEO Kęstutis Juščius +370 5 233 5340
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