The board of directors of Citycon Oyj decided on a new stock option plan
The number of shares subscribed by exercising stock options issued corresponds, on the date of release, to a maximum total of 1.24 per cent of all shares and votes of the shares in the company after the potential share subscriptions based on the stock options, if new shares are issued in the share subscription.
The share subscription price for shares subscribed by virtue of the stock options is EUR 7.38 per share. The share subscription price will be credited to the reserve for the company's invested unrestricted equity.
The Share subscription period for stock options is,
The theoretical market value of one stock option is EUR 0.436 per stock option and the total theoretical market value of all stock options 2022 is approximately EUR 920,000. The theoretical market value of one stock option has been calculated using the Black & Scholes stock option pricing model with the following input factors: share price EUR 7.075, share subscription price EUR 7.38, risk free interest rate 0%, time to maturity of stock options approximately 4 years, current dividend yield 7.1% and volatility 23.9%.
The Board of Directors resolved on the stock option plan on the basis of the authorization granted by the company's Annual General Meeting of Shareholders held on 22 March 2021. The Company has a weighty financial reason for the issue of stock options since the stock options are intended to form part of the incentive and commitment program for the Group key employees.
For further information, please contact:
Laura Jauhiainen
Vice President, Strategy and Investor Relations
Tel. +358 40 725 7573
[email protected]
Citycon is a leading owner, manager and developer of mixed-use centres for urban living including retail, office space and housing. We are committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.5 billion. Our centres are located in urban hubs with a direct connection to public transport. Placed in the heart of communities, our centres are anchored by groceries, healthcare and services to cater for the everyday needs of customers.
Citycon has investment-grade credit ratings from Moody's (Baa3), Fitch (BBB-) and Standard & Poor's (BBB-). Citycon Oyj's share is listed in Nasdaq Helsinki.
www.citycon.com
Attachment: Terms and Conditions of Citycon Stock Options 2022
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