HELSINKI, April 15, 2020 /PRNewswire/ -- The Board of Directors of Kamux Corporation ("Company") has confirmed the remuneration to be paid to the key personnel of the Kamux Group in accordance with the terms and conditions of the share-based incentive scheme and the earnings criteria set for the year 2019. According to the terms and conditions of the share-based incentive scheme 2019 and after the deduction of the cash payment portions of the remunerations meant for taxes and tax-like contributions, 25 persons included in the 2019 share-based incentive scheme shall receive altogether 40,729 existing shares held by the Company through a directed share issue without consideration.
Further information of the share-based incentive scheme 2019 and its key terms and conditions is available in the Stock Exchange Release of 23 January 2019 and on the website of the company. The issuance of shares in accordance with the terms and conditions of the share-based incentive plan is based on the authorization given to the Board of Directors by the Company's Annual General Meeting on 26 April 2018, under which the Board of Directors of the Company was authorized to decide on the issuance of a maximum of 400,000 new and/or existing shares to remunerate the Group's key personnel in accordance with the Company's share-based incentive scheme established by the Board of Directors on 27 April 2017.
After the transfer of own shares, the company holds 43,954 own shares.
The issued shares will be subject to a transfer restriction during the commitment period. The commitment period begins when the reward is paid and ends on 31 December 2021. A member of the Group's Management Team must own half of the shares received as a reward based on the scheme until his/her shareholding in the Company corresponds to the value of his/her annual salary (ownership obligation). Each participant must own this number of shares for as long as he/she remains a member of the Group's Management Team.
In Hämeenlinna, 15 April 2020
The Board of Directors
Kamux Corporation is a retail chain specializing in the sale of used cars and related integrated services that has grown rapidly. Kamux combines online shopping with an extensive showroom network to provide a great customer experience anytime, anywhere. In addition to digital channels, the company has total of 73 car showrooms in Finland, Sweden and Germany. Since its founding, the company has sold more than 250,000 used cars, 55,432 of which were sold in 2019. Kamux's revenue reached EUR 658.5 million in 2019. In 2019, Kamux's average number of employees was 595 in terms of full-time equivalent employees. The shares of Kamux are listed on the Nasdaq Helsinki stock exchange.
For more information:
Juha Kalliokoski, CEO
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