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QPR SOFTWARE PLC STOCK EXCHANGE RELEASE SEPTEMBER 9, 2024 at 9 a.m EEST
The Board of Directors of QPR Software Plc Resolved on a New Stock Option Plan
The Board of Directors (the "Board of Directors") of QPR Software Plc (the "Company") has today, on September 9, 2024, resolved to launch a new stock option plan based on the authorization granted by the Annual General Meeting of the Company on May 15, 2024, under which key personnel of the Company and its subsidiaries (the “Group”) may receive stock options (the “Stock Option(s)”) entitling to subscribe for shares in the Company (the “Share(s)”).
There is a weighty financial reason for the issuance of the Stock Options as the Stock Options are intended to form a part of the incentive and commitment program of the Group’s key personnel. The purpose of the Stock Options is to encourage the key personnel to work on a long-term basis to increase shareholder value as well as to commit the key personnel to the Group as their employer.
The total maximum number of Stock Options to be issued is 1,800,000 and they entitle their holders to subscribe for a total maximum number of 1,800,000 new Shares in the Company or treasury Shares held by the Company. The Board of Directors decides whether the Shares issued to the subscribers are new Shares or treasury Shares held by the Company. The Stock Options are issued free of charge.
720,000 Stock Options are marked with the code 2024 A, 540,000 are marked with the code 2024 B, and 540 000 are marked with the code 2024 C.
The number of Shares subscribed for by exercising the issued Stock Options corresponds to a maximum total of approximately 9.0 per cent of all Shares and votes carried by the Shares in the Company after the potential Share subscriptions if new Shares are issued in the Share subscription. After the Share subscriptions with Stock Options, the number of the Company’s Shares may be increased by a maximum total of 1,800,000 Shares if new Shares are issued in the Share subscription.
The Share subscription price for 2024 A Stock Options shall be the trade volume weighted average price of the Company’s Share on Nasdaq Helsinki Ltd, rounded to the nearest cent, during the ten (10) trading days following the Board of Directors’ decision regarding the 2024 Stock Options on September 9, 2024.
The Share subscription price for 2024 B Stock Options and 2024 C Stock Options shall be the trade volume weighted average price of the Company’s Share on Nasdaq Helsinki Ltd, rounded to the nearest cent, during the ten (10) trading days following the Board of Directors’ decisions on the allocation of the 2024 B Stock Options (preliminarily planned for September 9, 2025) and the allocation of the 2024 C Stock Options (preliminarily planned for September 9, 2026). The Company and the Board of Directors reserve the right to decide on all matters pertaining to the allocations of the 2024 B Stock Options and 2024 C Stock Options, including any decisions to refrain from such allocations, as well as to decide on the change of timing of any allocation, in each case based on weighty reasons.