ACCELERATED VESTING OF THE RIGHTS UNDER RETELIT’S SHARE INCENTIVE PLAN
It is announced that the Board of Directors of Retelit S.p.A. ("Retelit"), held today, acknowledged the final results, at the end of the reopening of the tender period, of the voluntary tender offer launched by Marbles S.p.A. on all the ordinary shares of Retelit (the “Offer”) – as well as the subsequent communications to the market of the same Marbles S.p.A. –, after which the delisting of Retelit shares from the EXM (previously, MTA) will occur in any case.
In this context, on the opinion of the Appointments and Remuneration Committee, the Board of Directors resolved, in accordance with the provisions of the regulation of the 2019-2021 long-term share incentive plan for the management currently in force (the "LTI Plan"), and also considering the intention of the beneficiaries of the LTI Plan (including the Chairman of the Board of Directors, Mr Pardi, and the Chief Executive Officer, Mr Protto) to subscribe the Offer, to grant the same beneficiaries the right to exercise, on a pro rata temporis basis, a total amount of no. 64,126 options, which entitle the beneficiaries to receive an equal number of Retelit shares held by the subsidiary Retelit Digital Services S.p.A. (the "Treasury Shares").
Instead of exercising the options, the beneficiaries may receive a cash bonus, calculated on the basis of the strike price of the options and the consideration of the Offer, as well as the delisting date. The Board of Directors also acknowledged that the beneficiaries of the LTI Plan are furthermore entitled to receive an additional 181,989 Retelit shares totally, which have been locked in the LTI Plan so far, and derive from the investment made by the beneficiaries in such shares in the context of the LTI Plan.