NoHo Partners Plc
STOCK EXCHANGE RELEASE 3 April 2020 at 8:57 a.m.
NoHo Partners Plc’s Board of Directors has decided to postpone the payment of share rewards to the company’s key employees
Due to the coronavirus pandemic and the general financial uncertainty it causes, NoHo Partners Plc’s Board of Directors has today decided, as proposed by the management of the company, to postpone the payment of share rewards pursuant to the share-based incentive scheme directed at the company’s Executive Team for the first earning period.
NoHo Partners announced that the company’s Board of Directors had decided on a share-based incentive scheme for key employees on 30 November 2018 and about its second earning period on 30 December 2019.
The share-based incentive scheme contains three earning periods. The first 13-month earning period was between 1 December 2018 and 31 December 2019. The second earning period comprises the calendar years 2020–2021 and the third earning period comprises the calendar years 2022–2023. The Board will confirm the earning criteria, related target levels and individuals included in the plan before the start of each earning period. Any share reward for each earning period can be paid as shares, money or a combination thereof.
The company will announce the payment schedule and method of the share rewards for the first earning period at a later time.
More information is available from:
Aku Vikström, CEO, NoHo Partners Plc, tel. +358 50 524 9445
Jarno Suominen, Deputy CEO, NoHo Partners Plc, tel. +358 40 721 5655
NoHo Partners Plc is a Finnish group established in 1996, specialising in restaurant services. The company, which was listed on NASDAQ Helsinki in 2013 and became the first Finnish listed restaurant company, has continued to grow strongly throughout its history. The Group companies include some 250 restaurants in Finland, Denmark and Norway. Well-known restaurant concepts of the company include Elite, Savoy, Teatteri, Yes Yes Yes, Stefan’s Steakhouse, Palace, Löyly, Hanko Sushi and Cock’s & Cows. In 2019, NoHo Partners Plc’s turnover was MEUR 272.8 and EBIT MEUR 30.6. Depending on the season, the Group employs approximately 2,100 people converted into full-time workers.
NoHo Partners corporate website: www.noho.fi
NoHo Partners consumer website: www.ravintola.fi