Wetteri Plc has decided on a free share issue to personnel

Wetteri Plc Insider information 21 December 2023 at 10.00 EET

Wetteri Plc’s Board of Directors has decided on a free share issue pursuant to the authorisation granted by the Annual General Meeting 8th May 2023. The company will issue a maximum of 100,000 new shares in the company to the employees of Wetteri Plc and its subsidiaries in automobile business without consideration, in deviation from the shareholders’ pre-emptive right. The company has a particularly important financial reason for deviating from the shareholders’ pre-emptive right, as the purpose of the personnel issue is to strengthen the employees’ ownership, motivation, and commitment to the company. Wetteri employs approx. 1000 employees.

The company will issue 100 shares without consideration to each employee of the Wetteri Plc and its subsidiaries in automobile. The new shares will be issued to the employees on a date determined separately by the Board of Directors.

Aarne Simula, CEO, Wetteri Plc:

“Wetteri has great and highly competent staff. With this share issue, we want to reward our personnel and invite them to also become owners. Wetteri is on an entrepreneur-driven growth track, and wide ownership among our employees will strengthen the commitment to our growth journey.”

The company will cover the taxes and social security contributions arising from the shares issued to employees on behalf of the employees.

The shares to be issued are subject to a transfer restriction (lock-up). The shares received through the personnel issue cannot be transferred until 12 months have passed since their registration in the employee’s book-entry account.

Further information:

Aarne Simula, CEO, Wetteri Plc

Tel. +358 400 689 613, aarne.simula@wetteri.fi

Panu Kauppinen, CFO, Wetteri Plc

Tel. +358 44 236 3740, panu.kauppinen@wetteri.fi

Wetteri Plc – an entrepreneur-driven growth company in the automotive sector

Wetteri Plc is an entrepreneur-driven growth company in the automotive sector. The company engages in the retail sales of passenger cars, commercial vehicles and heavy vehicles, and produces maintenance and repair shop services for vehicles, from passenger cars to heavy vehicles.  Headquartered in Oulu, the company has 40 locations in Finland. The company employs around 1000 people, of whom nearly 70% work in maintenance and repair services. Wetteri promotes digitalisation in the automotive sector and is an important player on the common journey towards emission-free motoring. More information: sijoittajat.wetteri.fi/en/