The organic producer AUGA group, AB (hereinafter the Company) is progressing with its employee motivation scheme through share options. The Company has made a decision to allocate a further 2.5 million shares to the employees and members of management bodies of the Company and its subsidiaries (hereinafter Employees). In total, since 2019 the Company will have allocated 7.2 million shares to its Employees. It also plans to assign a further more than 3 million shares for the same purpose in the future.
The Company launched its first option programme in spring 2019. Almost 2.55 million shares were allocated to Employees in the first stage and additional 2.23 million shares in 2020.
The programme is being continued this year, with the allocation of a further 2.5 million shares.
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A motion to approve an additional 1.7 million shares for future allocation, so that total unallocated number of Company shares intended for the option programme would reach 3 million shares, has been included in the agenda for the upcoming regular general meeting of the shareholders of the Company.
If all accumulated reserves are allocated to employees and new shares are issued, they will amount to 3.66% of the equity of the Company.
“While pursuing our ambitions goals in efficiency and sustainability as well as development of new technologies the key to success is our professional, engaged and motivated people. The option programme is being continued for the third consecutive year. It is motivating our valued employees who contribute the most to achieving company’s goals and we plan to remain committed to this programme in the future,” says Kęstutis Juščius, CEO of AUGA group, AB.
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The Company’s share option programme is aimed at increasing Employee motivation and engagement. Shares are primarily granted to the Employees who make the highest impact on the success of the Company’s operations.
Under existing agreement conditions, Employees are entitled to receive a specified number of Company shares after a period of 3 years. These shares are distributed to the Employees free of charge and funded by a Company reserve that has been formed for that purpose.
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