Scandinavian Tobacco Group A/S: Implementation of Incentive Programmes and Reporting of Transactions in Accordance with Sect. 28a of Danish Sec. Trad. Act

Source from:  Nasdaq 06/28/2016

Scandinavian Tobacco Group A/S has today implemented i) a long-term incentive programme (the LTIP) for certain members of the Executive Management and certain members of senior management, and ii) a transition share programme (the TSP) for certain members of the Executive Management and certain members of senior management.

The two programmes comprise a total of 166,239 performance share units (PSUs) of which 128,084 PSUs have been granted to members of the Executive Management, and a total of 38,155 PSUs have been granted to certain members of senior management. The number of PSUs granted to each participant in the programme has been based on the average share price of the 10 trading days following the listing of the company on 10 February 2016 on Nasdaq Copenhagen. Further, the participants have received PSUs corresponding to the dividend paid by the company in April 2016.

Upon vesting, each PSU entitles the holder to receive one share in Scandinavian Tobacco Group A/S at no cost. The actual number of shares vesting may range between 0 and 200% of the grant and is determined by the achievement of certain performance indicators in the financial years 2016, 2017 and 2018 for the LTIP and the financial years 2016 and 2017 for the TSP. The maximum total number of vested shares under the programmes is 332,478 shares based on an achieved full performance (200%).

Prior to vesting, holders of PSUs are not entitled to any of the rights which shareholders hold, except from the right to dividends which will be converted into additional PSUs.

For more information please visit www.st-group.com. Enditem