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Penneo

Penneo

Penneo issues employee share program

14:03 / 24 November 2021 Penneo Press release

Company Announcement No. 25-2021
Copenhagen, 24 November 2021

The Board of Directors has in close collaboration with the executive management in Penneo decided to offer an employee share program. The purpose of the program is to:
  • Ensure aligned interests between employees and the shareholders of the company
  • Retain employees

The employee share program applies to all current full time employees in Penneo. The employee share program makes it possible for Penneo employees to have part of their salaries paid in Penneo shares. Penneo's own shares will be used for the share program, and no new shares will be issued in connection with the share program. 

The program specifications:
  • The maximum number of shares that will be made available to employees will be 200,000 (equal to 0,74% of the total number of shares) for the period 1 January 2022 to 31 December 2022
  • The shares will be transferred to the share depository of the individual employee participating in the share purchase program when Penneo publishes the 2022 Annual Report in the beginning of 2023. Thereafter, the shares are at the free disposal of the employees without any restrictions
  • The share price that will be used to calculate the number of shares an employee will be able to acquire, will be defined as an average of the daily average share price in the 5-day trading period from 22-26 November 2021
  • The employee will have to give notice of participation in the program to Penneo no later than 3 December 2021
  • In case the demand from the employees exceeds the limit of 200,000 shares, the allotment to the employees will be made pro rata in accordance with the requested number of shares
  • The program is covered by section 7 P of the Danish Tax Assessment Act (in Danish: Ligningslovens § 7 P)
About Penneo A/S

Penneo is a Software-as-a-Service (SaaS) provider originally established to help companies with digital document signatures. Penneo was founded by six Danish entrepreneurs, who joined forces with a shared ambition to reduce the "hassle of getting documents signed" by replacing pen and paper with a digital alternative. This new digital "pen" (Pen-neo) was launched in 2014. Today, Penneo has evolved into an eco-system of automation solutions that digitize company workflows in connection with onboarding of customers (KYC) and secure and easy signing and management of documents. The company offers a RegTech solution that gives companies an efficient and inexpensive tool for complying with regulatory requirements . Penneo holds a strong position in the Nordic countries. In Denmark alone, more than 620,000 individuals signed documents electronically with Penneo in 2020. 

For more information about Penneo, please visit: https://penneo.com/investors/

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