Stock exchange release
Free for publication on March 22, 2016 at 2.30 pm (CET+1)
The Board of Directors of Bittium Corporation (the “Company”) has on 22 March 2016 decided on a directed share issue without consideration as reward payments to the key persons of the Company (the “Share Issue”).
In the Share Issue a maximum of 58,000 new shares will be issued without consideration to the key persons entitled to share rewards according to the terms and conditions relating to the share rewards. A total of 9 people belonging to the management and personnel of the Company are in the target group of the payment. The shares issued in the Share Issue are aimed to be registered with the Trade Register and registered on the book-entry accounts of the recipients of the shares on March 24, 2016 and become subject to trading on the trading list of Nasdaq Helsinki on March 29, 2016.
The decision of the directed share issue without consideration is based on the authorization granted to the Board of Directors by the Company's Annual General Meeting of Shareholders held on April 15, 2015. The purpose of the share issue is to combine the interests of shareholders and key personnel to maximize the value of the Company and to commit the key personnel to the Company and to offer them a competitive incentive based on share ownership. There is thus an especially weighty financial reason for the Share Issue.
Oulu, March 22, 2016
Bittium Corporation
Board of Directors
Further information:
Hannu Huttunen
CEO
Tel. +358 40 344 5258
Kari Jokela
Chief Legal Officer
Tel. + 358 40 344 5258
Distribution:
Nasdaq Helsinki Stock Exchange
Main media
Bittium
Bittium specializes in the development of reliable, secure communications and connectivity solutions leveraging its 30years legacy of expertise in advanced radio communication technologies. Bittium provides innovative products and customized solutions based on its product platforms and R&D services complementing its communications and connectivity solutions. Bittium offers proven information security solutions for mobile devices and portable computers. Net sales of continuing operations in 2015 were EUR 56.8 million and operating profit was EUR 2.3 million. Bittium is listed on Nasdaq Helsinki. www.bittium.com
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