The number of stock options issued is 2,111,111 and they are issued gratuitously. The stock options entitle their owners to subscribe for a maximum total of 2,111,111 new shares in the Company or existing shares held by the Company. Of the stock options, 527,778 are marked with the symbol 2022A, 527,778 are marked with the symbol 2022B, 527,778 are marked with the symbol 2022C and 527,777 are marked with the symbol 2022D.

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,

# for stock options 2022A, 31 January 2022 – 31 December 2025

# for stock options 2022B, 31 January 2023 – 31 December 2025

# for stock options 2022C, 31 January 2024 – 31 December 2025

# for stock options 2022D, 31 January 2025 – 31 December 2025.

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.