SCANDINAVIAN TOBACCO GROUP A/S COMPANY ANNOUNCEMENT
No. 28/2016
Copenhagen, 27 June 2016
Implementation of Incentive Programmes and Reporting of Transactions in Accordance with Section 28a of the Danish Securities Trading Act
Scandinavian Tobacco Group A/S has today implemented i) a long-term incentive programme (the LTIP) for certain members of the Executive Management and certain members of senior management, and ii) a transition share programme (the TSP) for certain members of the Executive Management and certain members of senior management.
The two programmes comprise a total of 166,239 performance share units (PSUs) of which 128,084 PSUs have been granted to members of the Executive Management, and a total of 38,155 PSUs have been granted to certain members of senior management. The number of PSUs granted to each participant in the programme has been based on the average share price of the 10 trading days following the listing of the company on 10 February 2016 on Nasdaq Copenhagen. Further, the participants have received PSUs corresponding to the dividend paid by the company in April 2016.
Upon vesting, each PSU entitles the holder to receive one share in Scandinavian Tobacco Group A/S at no cost. The actual number of shares vesting may range between 0 and 200% of the grant and is determined by the achievement of certain performance indicators in the financial years 2016, 2017 and 2018 for the LTIP and the financial years 2016 and 2017 for the TSP. The maximum total number of vested shares under the programmes is 332,478 shares based on an achieved full performance (200%).
Prior to vesting, holders of PSUs are not entitled to any of the rights which shareholders hold, except from the right to dividends which will be converted into additional PSUs.
Reference is also made to the offering circular published by Scandinavian Tobacco Group A/S on 28 January 2016 and the company's Remuneration Policy as published on the company's website www.st-group.com.
With reference to section 28a of the Danish Securities Trading Act, the following transactions in securities of Scandinavian Tobacco Group A/S have been reported by members of the Executive Management and the Key Employee:
| Name | Niels Frederiksen |
| Reason | CEO and member of the Executive Management |
| Issuer | Scandinavian Tobacco Group A/S |
| ISIN code / Symbol | DK0060696300 - STG |
| Transaction | Received performance share units under the Long-term Incentive Programme which are conditional upon fulfilment of certain performance indicators in the financial years 2016-2018. Received performance share units under the Transitional Share Programme which are conditional upon fulfilment of certain performance indicators in the financial years 2016-2017. |
| Type of security | Performance share units |
| Trade day (grant date) | 27 June 2016 |
| Market | N/A |
| Number of securities | Long-term Incentive Programme: 26,336 (assuming 100% vesting, max = 200%). Transitional Share Programme: 26,336 (assuming 100% vesting, max = 200%). |
| Market value | DKK 5,456,819 (based on closing share price of 24 June 2016 and 100% vesting) |
| Name | Sisse Fjelsted Rasmussen |
| Reason | CFO and member of the Executive Management |
| Issuer | Scandinavian Tobacco Group A/S |
| ISIN code / Symbol | DK0060696300 - STG |
| Transaction | Received performance share units under the Long-term Incentive Programme which are conditional upon fulfilment of certain performance indicators in the financial years 2016-2018. Received performance share units under the Transitional Share Programme which are conditional upon fulfilment of certain performance indicators in the financial years 2016-2017. |
| Type of security | Performance share units |
| Trade day (grant date) | 27 June 2016 |
| Market | N/A |
| Number of securities | Long-term Incentive Programme: 11,726 (assuming 100% vesting, max = 200%). Transitional Share Programme: 11,726 (assuming 100% vesting, max = 200%). |
| Market value | DKK 2,429,627 (based on closing share price of 24 June 2016 and 100% vesting) |
| Name | Christian Hother Sørensen |
| Reason | Executive Vice President and member of the Executive Management |
| Issuer | Scandinavian Tobacco Group A/S |
| ISIN code / Symbol | DK0060696300 - STG |
| Transaction | Received performance share units under the Long-term Incentive Programme which are conditional upon fulfilment of certain performance indicators in the financial years 2016-2018. Received performance share units under the Transitional Share Programme which are conditional upon fulfilment of certain performance indicators in the financial years 2016-2017. |
| Type of security | Performance share units |
| Trade day (grant date) | 27 June 2016 |
| Market | N/A |
| Number of securities | Long-term Incentive Programme: 14,266 (assuming 100% vesting - max = 200%) Transitional Share Programme: 14,266 (assuming 100% vesting - max = 200%). |
| Market value | DKK 2,955,915 (based on closing share price of 24 June 2016 and 100% vesting) |
| Name | Craig Reynolds |
| Reason | Executive Vice President |
| Issuer | Scandinavian Tobacco Group A/S |
| ISIN code / Symbol | DK0060696300 - STG |
| Transaction | Received performance share units under the Long-term Incentive Programme which are conditional upon fulfilment of certain performance indicators in the financial years 2016-2018. Received performance share units under the Transitional Share Programme which are conditional upon fulfilment of certain performance indicators in the financial years 2016-2017. |
| Type of security | Performance share units |
| Trade day (grant date) | 27 June 2016 |
| Market | N/A |
| Number of securities | Long-term Incentive Programme: 11,714 (assuming 100% vesting - max = 200%) Transitional Share Programme: 11,714 (assuming 100% vesting - max = 200%). |
| Market value | DKK 2,427,141 (based on closing share price of 24 June 2016 and 100% vesting) |
For further information, please contact:
For media enquiries:
Kaspar Bach Habersaat, Director of Group Communications, phone: +45 7220 7152
or kaspar.bach@st-group.com.
For investor enquiries:
Torben Sand, Head of Investor Relations, phone: +45 7220 7126 or torben.sand@st-group.com.
About Scandinavian Tobacco Group
Scandinavian Tobacco Group A/S with its subsidiaries (the "Group") is a world leading producer of cigars and traditional pipe tobacco. The Group also produces fine-cut tobacco and sells tobacco-related accessories. The Group produces and sells 3 billion cigars and 5,000 tonnes of pipe and fine-cut tobacco annually. Scandinavian Tobacco Group believes it is the only company globally with a core strategic focus on production and distribution in all of these tobacco categories.
Scandinavian Tobacco Group holds market-leading positions in the machine-made cigar market in Europe, the handmade cigar market in the US, the online and catalogue retail sales of cigars in the US, the traditional pipe tobacco market globally and in selected fine-cut tobacco markets.
Scandinavian Tobacco Group has a diversified portfolio of more than 200 brands providing a complementary range of established global brands and local champions. In the cigar segment, the brand portfolio comprises Café Crème, La Paz, Macanudo, CAO, Partagas (US) and Cohiba (US). Pipe tobacco brands include Captain Black, Erinmore, Borkum Riff and W.Ø. Larsen, while leading fine-cut tobacco brands include Bugler, Break, Escort, Bali Shag and Tiedemanns.
As at 31 December 2015, the Group employed approx. 8,100 people in the Dominican Republic, Honduras, Nicaragua, Indonesia, Europe, New Zealand, Australia, Canada and the US.
For more information please visit www.st-group.com.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Scandinavian Tobacco Group A/S via Globenewswire
