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    NESTE   FI0009013296

NESTE OYJ

(NESTE)
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Neste Oyj : Payment of share rewards based on the share-based incentive program as a directed share issue of own shares of the company without consideration

02/04/2021 | 09:11am EDT

Neste Corporation, Stock Exchange Release, 4 February 2021 at 4.10 p.m. (EET)

On 4 February 2021, the Board of Directors of Neste Corporation has confirmed the maximum number of shares, 270,000 shares, earned based on the earning period 2018-2020 of the share-based incentive program which commenced in 2016 for the company's key personnel and resolved on the payment of the share rewards earned based on said earning period. This amount means a gross reward from which the applicable taxes will be withheld and the remaining net amount will be paid to the participants in shares. The recipients of the above share rewards comprise 106 key persons.

Neste Corporation announced the commencement of this share-based incentive program with a Stock Exchange Release on 15 December 2015 and the commencement of the earning period 2018-2020 on 12 December 2017.

The share rewards are paid by transferring own shares held by the company without consideration to the participants (directed share issue without consideration). The share rewards are aimed to be paid by 31 March 2021.

The final number of shares to be transferred will be determined based on the terms and conditions of the incentive program by 31 March 2021. The Board of Directors has resolved on this transfer of own shares based on the authorization granted by the Annual General Meeting of Shareholders held on 18 May 2020. The shares to be transferred are of the same class as the company's other shares.

There is an especially weighty financial reason for the company, also taking into account the interests of all the company's shareholders, to deviate from the shareholders' pre-emptive subscription right in the directed share issue without consideration. The shares issued constitute share rewards within the long-term share-based incentive program of the company's Management and these share rewards are, in accordance with the objectives of the incentive program, intended to align the interests of the Management with the interests of the shareholders and to encourage the Management to work on a long-term basis with the aim to increase the shareholder value.

Neste Corporation
Board of Directors

For more information: 

Hannele Jakosuo-Jansson, Senior Vice President, Human Resources, HSSEQ and Procurement. Please contact Neste's media service, tel. +358 50 458 5076 / media@neste.com(open on weekdays from 8.30 a.m. to 4.00 p.m. EET)

Matti Kähkönen, Chair of the Board of Directors, Neste, tel. +358 10 458 0902 / Krista Lundell

Neste in brief

Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world's leading producer of renewable diesel and sustainable aviation fuel, developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. As a technologically advanced refiner of high-quality oil products with a commitment to reach carbon-neutral production by 2035, we are also introducing renewable and recycled raw materials such as waste plastic as refinery raw materials. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world's most sustainable companies. In 2019, Neste's revenue stood at EUR 15.8 billion, with 82% of the company's comparable operating profit coming from renewable products. Read more: neste.com

https://news.cision.com/neste/r/payment-of-share-rewards-based-on-the-share-based-incentive-program-as-a-directed-share-issue-of-own,c3279789

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 12 812 M 15 256 M 15 256 M
Net income 2021 1 240 M 1 476 M 1 476 M
Net Debt 2021 177 M 211 M 211 M
P/E ratio 2021 32,8x
Yield 2021 1,52%
Capitalization 40 134 M 47 813 M 47 791 M
EV / Sales 2021 3,15x
EV / Sales 2022 2,87x
Nbr of Employees 4 780
Free-Float 53,6%
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 21
Average target price 55,88 €
Last Close Price 52,26 €
Spread / Highest target 43,5%
Spread / Average Target 6,93%
Spread / Lowest Target -31,1%
EPS Revisions
Managers and Directors
NameTitle
Peter Vanacker President & Chief Executive Officer
Jyrki Mikael Mäki-Kala CFO, Head-Information Technology & Strategy
Matti Kähkönen Chairman
Lars Peter Lindfors Senior Vice President-Innovation
Willem Jan Antoon Schoeber Independent Non-Executive Director
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