GeoJunxion (GOJXN.AS) - grant of 2022 Share options, first vesting of 2020 Share options and Auditor update.
Capelle aan den IJssel, The Netherlands – 22 September 2022 – GeoJunxion (GOJXN.AS) announces it has granted share options to all its employees and to a limited selection of its long-standing contractors as incentive award towards long term value creation. A total of 81.600 shares options were awarded at a strike price of Euro 1,787. The strike price corresponds to the 90 days moving average of the share price as per 1 July 2022. The share options have an average vesting period of 2,5 years and will vest in four equal quarterly portions, starting on 1 July 2024. They will vest at the 90 days average closing prices of the GOJXN stock in the period immediately preceding the vesting date. The settlement will be in ordinary shares of the company.
This is the third time that share options have been granted under such a scheme. The initial grant was announced in a press release dated 29 October 2020 and then, a second grant announced on 1 November 2021.
GeoJunxion also announces the first quarterly vesting of the share options awarded in 2020. The vesting date is 1 July 2022, exactly 2 years after the options were granted. As a result of this first vesting, a total of 1.407 ordinary GeoJunxion shares will be granted to participants: 1.145 have been issued, 262 will be issued at the latest in April 2023. Going forward quarterly vesting will take place on 1 October, 1 January, 1 April and 1 July.
After the 2022 share options award and the first vesting per 1 July 2022, a total of 163.755 share options remains open.
The Supervisory and Management boards believe that granting employees the possibility to benefit from the improved operating results of the Company, through the allocation of share options, will lead to stronger engagement and ultimately better performances. This aligns GeoJunxion employees' interests with those of the shareholders, to focus on long-term and sustainable value creation.
GeoJunxion also takes this opportunity to communicate that the Consolidated Annual Accounts for the Accounting Year 2021-22 will be published without the opinion of an Auditor. All six PIE/OOB Licensed Auditing Firms in The Netherlands have declined the requests of the Company for auditing services. In view of the significant improvements the company has made in its financial performance, the simplification of its subsidiary structure, risk management and internal control processes, the Supervisory and Management boards were expecting favorable input from at least one auditing firm.
GeoJunxion hopes that the proposed legislation regarding the future of the Dutch Accountancy Sector (voorstel voor de Wet toekomst accountancysector) will provide a timely resolution to ensure that next years’ annual accounts will be audited. This legislative initiative includes a proposed process whereby the NBA (Nederlandse Beroepsorganisatie van Accountants), at the request of the company, can assign a PIE/OOB licensed auditor and determine a reasonable fee for the auditing activities.
GeoJunxion is the crossroads where fundamental, location-aware content connects with superior, customized intelligence and highly focused innovations to empower exceptional experiences. With an emphasis on safety and sustainability, we are constantly expanding our portfolio to meet the demands of a diverse and fast-evolving market. Building on decades of experience in mapping, the company focuses on high value, dynamic content and building environmentally conscious applications, which enrich safety in everyday life. With location-aware content at our core, we know where our strengths lie and have the know-how and technology needed to offer unrivalled, intelligent products and services. GeoJunxion NV is listed on the regulated market of Euronext Amsterdam, under the symbol GOJXN.AS.
GeoJunxion Press Contact
Tel: +31 (0)10 885 1200
This is a public announcement by GeoJunxion N.V., pursuant to article 17, paragraph 1 of the European Market Abuse Regulation (596/2014). This public announcement does not constitute an offer, or solicitation of an offer, to buy or offer securities in GeoJunxion N.V.To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
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