The board of directors of Nordic drinks group Anora has approved a new plan period within the share-based long-term incentive scheme for its management and select key employees.
The scheme comprises a performance share plan (PSP) for the top management and other key employees, and a restricted share plan (RSP) as a complementary structure for selected key employees in specific situations, the company noted.
The value of the reward payable to participants based on the plans is limited by a share price development-based cutter.
Performance Share Plan (PSP) 2024-2026
The individual plan within the PSP structure, PSP 2024-2026, commences as of the beginning of 2024. Anora will pay potential share rewards during the first half of 2027.
The payment of the rewards will depend on the achievement of performance targets set by the board of directors for the plan.
PSP 2024-2026 will consider parameters such as revenue growth, earnings per share (EPS), the relative total shareholder return of the company’s share, and a measure based on the Sustainalytics ESG rating to determine the potential share reward.
Around 50 individuals will be eligible to participate in PSP 2024-2026, including the members of Anora Group’s executive management team.
If the performance targets set for PSP 2024–2026 are fully achieved, the aggregate maximum number of shares to be paid based on this plan is approximately 1,294,000 shares, Anora added.
Restricted Share Plan (RSP) 2024-2026
RSP 2024-2026 commences as of the beginning of 2024 and payments are expected in the first half of 2027.
The aggregate maximum number of shares to be paid as part of the plan is approximately 129,000 shares.
The estimated aggregate gross value of this plan, based on the current value of the Anora Group's share, is approximately €0.6 million.
The materialised value of the plan may deviate from this estimate, depending on share price development and the amount of share grants made within the plan, the company noted.
In December of last year, Anora lowered its full-year profit guidance for full-year 2023, with the company now expecting comparable EBITDA for the year to be between €66 million and €69 million.
