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VERK - Verkkokauppa.com Oyj News Story

€9.15 0.1  0.6%

Last Trade - 12/04/21

Sector
Consumer Cyclicals
Size
Mid Cap
Market Cap £353.1m
Enterprise Value £334.7m
Revenue £480.5m
Position in Universe 570th / 1831

Transfer of treasury shares held by Verkkokauppa.com Oyj by way of a directed share issue without consideration for the payment of share rewards based on the long-term incentive plan for key employees

Tue 2nd March, 2021 1:00pm
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Verkkokauppa.com Oyj          Stock Exchange Release        
March 2, 2021 at 3:00 p.m. EET

Transfer of treasury shares held by Verkkokauppa.com Oyj by way of a directed
share issue without consideration for the payment of share rewards based on
the long-term incentive plan for key employees

The Board of Directors of Verkkokauppa.com Oyj has resolved on a directed
share issue without consideration for the payment of share rewards in the
first matching period 2018-2020 of the Matching Share Plan 2018-2020. The
resolution on the directed share issue without consideration is based on the
authorization granted by the Annual General Meeting held on 31 March 2020.

In the directed share issue without consideration, a total of 15,000 treasury
shares held by the Company have today, on 2 March 2021, been transferred to
five (5) key employees according to the terms and conditions of the Matching
Share Plan 2018-2020. Additionally, a part of the reward is paid in cash
intended to cover taxes and tax-related costs arising from the reward to the
participant. No new shares will be issued in connection with the payment of
the share rewards and therefore the resolution will have no diluting effect.
After the transfer of the shares, Verkkokauppa.com Oyj holds 335,633 treasury
shares.

The shares issued constitute share rewards within a long-term share-based
incentive program of the Company’s most senior management and the 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 shareholder value. Thus, there is an especially weighty
financial reason for the Company and taking into consideration the interests
of all shareholders to derogate from the pre-emptive right of the
shareholders.

The Board of Directors of Verkkokauppa.com Oyj resolved in May 2018 to
establish a new share-based incentive plan and further details about the plan
are available in the company release published on 16 May 2018. The aim of the
plan is to align the objectives of the shareholders and the key employees in
order to increase the value of the Company in the long-term, to encourage the
key employees to personally invest in the Company's shares, to retain the key
employees with the Company, and to offer them a competitive reward plan which
is based on the acquisition, obtaining and accumulation of the Company's
shares.

For more information, please contact:

Panu Porkka
 CEO
 panu.porkka@verkkokauppa.com
 Tel. +358 10 309 5555

Mikko Forsell
 CFO
 mikko.forsell@verkkokauppa.com
 Tel. +358 50 434 2516

Distribution:

Nasdaq Helsinki
 Principal media
 www.verkkokauppa.com

Verkkokauppa.com in short

Verkkokauppa.com is Finland’s most popular and most visited Finnish online
retailer, with the aim to sell to products to its customer at probably always
cheaper prices. Depending on the season, the Company markets, sells, and
distributes some 60,000–70,000 products in 26 different main product
categories through its webstore, retail stores, and network of pick-up points.
The Company has four megastores: in Oulu, Pirkkala, Raisio, and Helsinki, in
addition to which products can be collected at more than 3,000 pick-up points.
Verkkokauppa.com was founded in 1992 and it is headquartered in Jätkäsaari,
Helsinki. The Company’s shares are listed on the official list of Nasdaq
Helsinki under the ticker symbol VERK
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