Conveyance of YIT Corporation’s own shares under share-based incentive scheme
The Board of Directors of YIT Corporation decided on August 20, 2019 on a directed share issue for Lemminkäinen Performance Share Program reward payment from the 2016 performance period to be done on September 18, 2019. In connection with the merger of YIT and Lemminkäinen, the companies agreed on payment of unpaid share rewards earned under Lemminkäinen’s long-term incentive plan with shares in YIT. Additional information is available in the offering circular published on August 24, 2017.
In the share issue, 41,014 YIT Corporation shares have been issued and conveyed without consideration to the key persons participating in the incentive scheme according to the terms and conditions of the incentive scheme.
Lemminkäinen Corporation’s Board of Directors decided in December 2015 to implement a long-term share-based incentive plan for key personnel. The aim is to combine the objectives of the shareholders and key personnel in order to increase the value of the company, while committing the participants of the plan to the company and increasing their ownership in the company.
Rewards have been paid to 63 people belonging to the 2016 performance period. The terms of the Lemminkäinen Corporation’s Performance Share Program were disclosed in more detail in the stock exchange release published on December 18, 2015.
The decision on the directed share issue is based on the authorisation granted to the Board of Directors by the Annual General Meeting of Shareholders held on March 12, 2019.
After the directed share issue, the company holds 2,331,490 own shares.
For further information, please contact:
Pii Raulo, Executive Vice President, Human Resources, YIT Corporation, tel. +35820 433 2254, firstname.lastname@example.org
Tiina Kuusisaari, Manager, Investor Relations, YIT Corporation, tel. +358 40 52 88 154, email@example.com
Manager, Investor Relations
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
YIT is the largest Finnish and significant North European construction company. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers, our nearly 10,000 professionals are creating more functional, more attractive and more sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our restated pro forma revenue for 2018 was approximately EUR 3.2 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com