Efecte Plc is planning to launch an employee share savings
EFECTE PLC — COMPANY ANNOUNCEMENT — 26 January 2023 at 11:00
Efecte Plc is planning to launch an employee share savings plan
The Board of Directors of Efecte Plc is planning to launch an Employee Share Savings Plan (ESSP). The intention is to offer the plan to the employees of Efecte Group in all countries where there are no legal, administrative or tax-related obstacles to running the program.
The objective of the Employee Share Savings Plan is to offer the employees of Efecte Group an opportunity to invest up-to 8% of their regular salary in Efecte shares. The planned ESSP would consist of annually commencing plan periods which each consist of a savings period and a holding period following the savings period. The ESSP is offered to all Efecte employees. As a reward for the commitment, Efecte would grant the participating employees a gross award of one matching share for each share acquired with their savings. The maximum number of shares issued by Efecte for each plan period would be limited to approximately 1% of total number of shares in Efecte. The final terms of the Employee Share Savings Plan are subject to Board approval.
By encouraging the employees to purchase and own the company’s shares the company aims to strengthen the connection of interests between the employees and the shareholders, and to increase the employees’ motivation and commitment to the company. The Board considers that the plan would have a positive effect on the development of the Company in the future and the plan would be in line with the interests of both the employees and the shareholders.
The Board’s intention is that the Employee Share Savings Plan will be launched in first half of 2023.
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Efecte helps people digitalize and automate their work. Customers across Europe leverage our cloud service to operate with greater agility, to improve the experience of end-users, and to save costs. The use cases for our solutions range from IT service management and ticketing to improving employee experiences, business workflows, and customer service. We are the European Alternative to the global goliaths in our space. Our headquarters is located in Finland and we have regional hubs in Germany, Sweden and Poland. Efecte is listed on the Nasdaq First North Growth Market Finland marketplace.
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