Bank of Åland’s targeted share issue for implementation of the variable compensation system for members of the Executive Team and key individuals
March 10 2023 - 8:15AM
Bank of Åland’s targeted share issue for implementation of the
variable compensation system for members of the Executive Team and
key individuals
Bank of Åland Plc Stock exchange release March 10, 2023, 16.15
EET
Bank of Åland’s targeted share issue for
implementation of the variable compensation system for members of
the Executive Team and key individuals
On March 10, 2023, the Board of Directors of the
Bank of Åland Plc (Ålandsbanken Abp) approved a targeted issue of
new shares. These shares are being issued in accordance with the
authorisation granted by the Annual General Meeting on April 3,
2019.
In order to fulfil the Bank of Åland’s obligations
within the framework of its variable compensation system targeted
to members of the Executive Team and key individuals, the Board has
decided to carry out a targeted issue of 6,974 new Series B
shares. The subscription price is EUR 38.80 per share,
which is the weighted average of the daily closing prices of Bank
of Åland B shares during February 2023. The entire subscription
price is being booked in unrestricted shareholders’ equity.
After the share issue, the Bank of Åland´s share
capital will remain unchanged at EUR 42,029,289.89, with the number
of Series A shares totalling 6,476,138 (representing 129,522,760
votes) and the number of Series B shares totalling 8,806,740
(representing 8,806,740 votes).
For further information, please
contact:
Peter Wiklöf, Managing Director and Chief
Executive, Bank of Åland Plc, tel. +358 40 512 7505
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