Incentive Scheme for managers - conditional approval by the Issuer's Supervisory Board
(Current Report No. 19/2017)
13.04.2017 / The Issuer /
Legal basis:
Art. 1 7 of the MAR - confidential information
The Management Board of CCC S.A., based in Polkowice (the "Issuer"), informs that on 13 April 2017 the Issuer's Supervisory Board adopted a resolution on giving a positive opinion and conditional approval of the three-year Incentive Scheme for the years 2017-2019 (the "Scheme") submitted by the Issuer's Management Board on condition that receiving the positive decision of the Issuer's General Meeting of Shareholders regarding the conditional increase of the Issuer's share capital and the issue of shares and subscription warrants dedicated for the implementation of the Scheme. The resolution together with provisions of the Scheme is enclosed to this report by the Issuer.
The main objectives of the Scheme is to motivate additionally and in long-term the CCC Capital Group's management personnel to implement the Group's strategy during the period of years 2017-2019 and to undertake actions and efforts aimed at further development of the Group and its prospects for the year 2020 and further years – in consequence leading to increase the value of Company’s shares and the value for shareholders. The Scheme assumes minimum EBITDA thresholds (conditioning the launch of tranches of the Scheme) at the level of PLN 550, 650 and 800 million PLN respectively for the year 2017, 2018 and 2019), i.e. not less than PLN 2 billion in this period.
Detailed Regulations of the Scheme shall be determined by the Supervisory Board based on the resolution of the Issuer’s General Meeting.