Sep 27, 2017
The Board of Directors of Qt Group Plc decided on extension of the Share Option Scheme for Key Employees
The Board of Directors of Qt Group Oyj (the Company) has at its meeting on 22 June 2016 decided, by virtue of an authorization granted by the Annual General Meeting of the Company held on 16 March 2016 (“Authorization”), to issue a maximum of 2,000,000 stock options (“Option Scheme”) to the key persons of the Company or its group companies (“Key Employees”). Authorization has expired on 16 September 2017. Until said expiry date the Board has issued a total of 1,520,000 option rights for Key Employees and thus a total of 480,000 option rights still remains left to be issued based on the Option Scheme (“Remaining Option Rights”).
Now, by virtue of an authorization granted by the Annual General Meeting of the Company held on 14 March 2017 (“New Authorization”), The Board of Directors of the Company has at its meeting today, on 27 September 2017 decided to continue the validity of the Option Scheme so as to issue the Remaining Option Rights, i.e. a total maximum of 480,000 option rights to the Key Employees in accordance with the Option Scheme. Terms of the Option Scheme remain in force unchanged in all other respects. The maximum total number of options rights issued based on the Option Scheme thus is 2,000,000, and they entitle to subscribe for a maximum total of 2,000,000 new shares in the Company or existing shares held by the Company.
The full terms and conditions on the Option Scheme are attached to this release.
In addition, the Board of Directors of the Company has today, on 14 March 2017, based on the New Authorization, resolved on allocating a total of 52,348 option rights to Key Employees, who already have been granted option rights on the basis of the Option Scheme. Said additional option rights are granted as a result of a rights offering (the "Offering") decided by the Board of Directors on 14 March 2017 (“Offering Correction”). Following the Offering the number of shares in the Company increased by a total of 2,974,039 shares. According to the terms of the Option Scheme the increase in the number of Company’s shares resulting from a share issue can be taken into account as a correction to the number of option rights to be issued based on the Option Scheme, and to the number of shares subscribed based on such option rights. Option rights to be so granted as an Offering Correction are granted to the Key Employees free of any charge without subscription list immediately upon the decision by the Board of Directors.
After execution of said Offering Correction the number of Remaining Option Rights is down to 427,652, which constitutes the maximum number of option rights that still remains left to be issued based on the Option Scheme.
Espoo 27 September 2017
Qt Group Plc
Board of Directors
Additional information:
CEO Juha Varelius
Telephone: +358 9 8861 8040
Distribution:
Nasdaq Helsinki Ltd
Principal media
www.qt.io
Qt Group Plc
Qt Group Plc is responsible for Qt development, productization and licensing under commercial and open source licenses. The Qt offering includes a development environment that enables the reuse of software code across numerous different operating systems, platforms and screen types, ranging from desktops and embedded systems to wearables and mobile devices. Qt is used by approximately 1 million developers worldwide and is the leading independent technology behind millions of devices and applications. Qt is the platform of choice for in-vehicle systems, industrial automation devices and other business critical applications manufacturers, and is used by leading global players in 70+ industries. The Qt Company operates in China, Finland, Germany, Japan, Korea, Norway, Russia and USA with about 200 employees worldwide. The Qt Group is headquartered in Espoo, Finland and is listed on Nasdaq Helsinki Stock Exchange. The company’s net sales in year 2016 was 32.4 MEUR. To learn more visit http://qt.io
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