The Board of Directors for
Termination of liquidity provider agreement (inside information)
This liquidity provider agreement has proven to be very successful during 2020, increasing the average daily trade in
Based on the increase in average daily trading volume and an average spread continuing to be consistently below 2% every month of 2021, the Board of Directors has today decided to terminate the liquidity provider agreement with effect by end of
Process initiated for recruitment of a CFO (inside information)
As
Approval of Long-Term Incentive Program
The Board of Directors has approved a warrants-based Long-Term Incentive Program (LTIP) to commit the Board and upper management towards the 2025 strategic goals initially announced when the Accelerate25 strategy was introduced. The authorisation to issue the needed warrants for the LTIP was given to the Board of Directors at the ordinary general meeting on
The Board of Directors, C-level executives and Directors is eligible for participation in the LTIP. As part of the commitment towards the strategic goals, participants in the LTIP will forego any increases in board fees, salaries and bonusses during a 3-year period (2021 - 2023) to decrease overhead cost and thereby increase profitability.
The planned LTIP program is structured to incentivise both towards short-term goals (size of actual warrants vested will be based on reaching revenue and EBITDA goals for each of the years 2021 - 2023) as well as long-term strategy fulfilment (actual value of vested warrants at the time of exercise). The structure and schedule of the LTIP is as follows:
2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
Granted Warrants | Max. 900,000 | ||||||
Vested Warrants | Max. 300,000 | Max. 300,000 | Max. 300,000 | ||||
Exercised Warrants | Max. 300,000 | Max. 300,000 | Max. 300,000 |
The strike price for warrants granted during this LTIP was established at
All existing Board members and members of C-level management as well as all directors have elected to participate in the LTIP. In addition, a future hired CFO will be eligible to participate in the LTIP as a C-level executive.
The articles of association will be updated following this decision.
Further information
- Michael Aaen, CEO,
Wirtek A/S , Phone: +45 2529 7575, E-mail: ir@wirtek.com
Niels Jernes Vej 10, 9220 Aalborg Ø, www.wirtek.com - Kent Mousten Sørensen, Chairman,
Wirtek A/S , Phone: +45 2125 9001 - Per Vestergaard, Certified Advisor, CDI Global, Phone: +45 2176 4317
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Attachment
- SM_15.2021_Board_Decisisions_30082021_UK
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