Conveyance of YIT Corporation’s own shares under share-based incentive scheme
The Board of Directors of YIT Corporation has on April 29, 2020 decided on a directed share issue for the reward payment from the 2017 earnings period under YIT Group’s Incentive Scheme 2017–2022. In the share issue, a maximum of 291,575 YIT Corporation shares will be issued and conveyed without consideration to the key persons participating in the incentive scheme according to the terms and conditions of the incentive scheme. As the company will use its treasury shares for the reward payments, the total number of shares of the company will not change.
The share-based incentive scheme for 2017–2022 and its terms decided by YIT’s Board of Directors were disclosed in more detail in a stock exchange release published on March 16, 2017. The purpose of the scheme is to support the company's strategy and to increase the company’s value supplement to existing incentive schemes. Rewards will be paid to maximum 185 people belonging to the company's management and personnel for the 2017 earnings period.
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, 2020. The shares will be delivered to the incentive scheme participants on May 7, 2020. After the conveyance of own shares, the company holds 2,039,915 own shares.
For further information, please contact:
Pii Raulo, Executive Vice President, Human Resources, YIT Corporation, tel. +358 20 433 111, firstname.lastname@example.org
Vice President, Investor Relations
Distribution: NASDAQ Helsinki, key media, www.yitgroup.com
YIT is the largest Finnish and a significant North European construction company and urban developer. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction. Together with our customers, our nearly 8,000 professionals are creating more functional, attractive and sustainable cities and environments. We work in 10 countries: Finland, Russia, Sweden, Norway, the Baltic countries, Czech Republic, Slovakia and Poland. Our revenue in 2019 was approximately EUR 3.4 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com