Conclusion of the share donation agreement between the Company and the main shareholder and Supervisory Board Member in execution of a non-diluting incentive program in the Company
The Management Board of Selvita S.A. with its registered office in Krakow (“Company”) hereby informs that on July 8, 2021, shareholder Paweł Przewięźlikowski – being the main shareholder and member of the Supervisory Board of the Company, who holds a total of 4,990,880 shares of the Company, concluded a donation agreement with the Company (“Agreement”), by which he has donated to the Company 1,117,386 Series B shares (“Shares”). The agreement was concluded to the implementation of a non-diluting incentive program for employees and associates of the Company and companies from the Company’s capital group (“Stock Grant Program”). The Company has informed about the establishment of the Stock Grant Program in the current report No. 8/2021 of April 20, 2021.
The Shares will be transferred to the Company free of charge (the Company will not incur any cash costs – detailed information on the impact of the Stock Grant Program on the Company’s consolidated financial statements was published in the current report No. 12/2021 of May 13, 2021).
Persons entitled to participate in the Stock Grant Program will be required to remain in a business relationship with the Company or its affiliated company and not to dispose the Shares under the Stock Grant Program within a period not shorter than 12 months and not longer than 36 months from the date of purchase of the Shares, subject to exceptional situations when an employee may be released from these obligations.
In the opinion of the Management Board of the Company, bearing in mind the assumptions and objectives of the Company’s Stock Grant Program, which are: ensuring optimal conditions for long-term growth of the Company’s value by creating a general employee shareholding, as well as increasing the motivation of employees and associates, and due to the non-diluting nature of the Program, the conclusion of the Agreement is purposeful and justified and is in the interest of the Company and its minority shareholders.
Legal basis: Art. 17 par. 1 of MAR
Representatives of the Company:
- Bogusław Sieczkowski – President of the Management Board
- Dawid Radziszewski – Management Board Member