Medicalgorithmics’ shareholders are poised to vote on adopting an Employee Stock Ownership Plan (ESOP) for key employees. The plan’s implementation hinges on meeting certain financial and market goals from 2024-2026. The ESOP aims to both motivate and keep the company’s crucial managers—who significantly drive growth—while aligning their interests with those of the shareholders. The ESOP’s financial objectives, to be presented at Medicalgorithmics’ Extraordinary General Meeting on December 19, include revenue targets of 45 million PLN in 2024, 55 million PLN in 2025, and 70 million PLN in 2026. The market goal ties to Medicalgorithmics’ stock performance, aiming to exceed the sWIG80 Total Return index’s return rate by 10 percentage points each year.
“The aim of the ESOP is to build value for shareholders by linking the increase in share price to the success of our key staff. It is also intended to motivate and retain crucial individuals for success and to enhance the company’s attractiveness as an employer by increasing motivation through allowing them to share in the company’s success. We believe this will lead to better financial results and the building of company value,” comments Maciej Gamrot, Medicalgorithmics’ CFO.
According to the proposed resolutions for the EGM, the ESOP will encompass Company executives and key personnel, each subscribing to 50 percent of the shares under the program. In total, participants in the program will be able to subscribe to up to 298,584 Medicalgorithmics shares, which represents up to 3 percent of the company’s share capital. The purchase price for one share will be 90 percent of the average share price from the 90 days preceding the establishment of the ESOP. The vesting is two years following the achievement of the objective, during which employees must remain with the company.
The initiative to pass the ESOP was proposed by BioFund Capital Management, which owns 49.99 percent of the company’s shares, and was subsequently submitted for review by the Nomination and Compensation Committee and the Supervisory Board. The Nomination and Compensation Committee of the Company positively evaluated the ESOP draft in terms of aligning the managers’ interests with those of the shareholders. Then, the Supervisory Board also favorably reviewed the draft of the program as presented in the draft resolutions for the EGM.
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“The aim of the ESOP is to build value for shareholders by linking the increase in share price to the success of our key staff. It is also intended to motivate and retain crucial individuals for success and to enhance the company’s attractiveness as an employer by increasing motivation through allowing them to share in the company’s success. We believe this will lead to better financial results and the building of company value,” comments Maciej Gamrot, Medicalgorithmics’ CFO.
According to the proposed resolutions for the EGM, the ESOP will encompass Company executives and key personnel, each subscribing to 50 percent of the shares under the program. In total, participants in the program will be able to subscribe to up to 298,584 Medicalgorithmics shares, which represents up to 3 percent of the company’s share capital. The purchase price for one share will be 90 percent of the average share price from the 90 days preceding the establishment of the ESOP. The vesting is two years following the achievement of the objective, during which employees must remain with the company.
The initiative to pass the ESOP was proposed by BioFund Capital Management, which owns 49.99 percent of the company’s shares, and was subsequently submitted for review by the Nomination and Compensation Committee and the Supervisory Board. The Nomination and Compensation Committee of the Company positively evaluated the ESOP draft in terms of aligning the managers’ interests with those of the shareholders. Then, the Supervisory Board also favorably reviewed the draft of the program as presented in the draft resolutions for the EGM.
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For additional information, please contact:
Investor Contact
Robert Mrozowski
InnerValue
r.mrozowski@innervalue.pl
+48 513 083 322
Contact for media
Mariusz Gawrychowski
InnerValue
m.gawrychowski@innervalue.pl
+48 501 520 598