Duell Corporation establishes a new share-based incentive plan for key employees

The Board of Directors of Duell Corporation has resolved to establish a new share-based incentive plan for key employees of the group. The purpose of the plan is to align the interests of the company’s shareholders and key employees to increase the company’s value in the long-term, to commit key employees to implement the company's strategy, objectives and long-term interest and to offer them a competitive incentive plan based on earning and accumulating the company´s shares.

The Performance Share Plan 2025–2029 consists of three performance periods, covering the financial years 2025–2027, 2026–2028 and 2027–2029 respectively. The Board of Directors will resolve annually on the commencement and details of a performance period. In the plan, the target group has an opportunity to earn Duell’s shares based on performance.

The potential rewards from the plan will be paid after the end of each performance period, partly in Duell’s shares and partly in cash. The cash proportion of the reward is intended to cover taxes and statutory social security contributions arising from the reward to the key employee. As a rule, no reward will be paid if the key employee’s employment or director contract terminates before the reward payment.

The Management Team member must hold 50 per cent of the received shares, until the value of the Management Team member’s total shareholding in Duell Corporation equals to 50 per cent of their annual base salary for the calendar year preceding the payment of the reward. Respectively, the CEO must hold 50 per cent of the received shares, until the value of the CEO’s total shareholding in Duell Corporation equals to 100 per cent of the CEO’s annual base salary for the preceding calendar year. Such number of Duell’s shares must be held as long as the membership in the Management Team or the position as the CEO continues. 

During Performance Period 2025-2027, the performance criteria of the plan are tied to group’s Total Revenue during the financial year 2027, Organic Revenue Growth from financial year 2024 to financial year 2027 (CAGR) and Adjusted EBITA % during the financial years 2025–2027. The value of the rewards to be paid on the basis of the plan corresponds to a maximum total of 19,400,000 shares of Duell Corporation, corresponding to approximately 1.9 percent of the total number of shares in the Company, including also the proportion to be paid in cash. The target group in the performance period 2025–2027 consists of approximately 17 key employees, including the members of the Management Team and the CEO.

For additional information, please contact

Magnus Miemois, CEO
Duell Corporation
+358 50 558 1405
magnus.miemois@duell.eu

Certified Advisor

Oaklins Merasco Oy
+358 9 312 9670

Duell Corporation (Duell) is an import and wholesale company based in Mustasaari, Finland, established in 1983. Duell imports, manufactures, and sells products through an extensive distribution network in Europe covering approximately 8,500 dealers. The range of products includes approximately 150,000 items under more than 550 brands. The assortment covers spare parts and accessories for motorcycling, bicycling, ATVs/UTVs, mopeds and scooters, snowmobiling, and marine. Logistics centres are in Finland, Sweden, Netherlands, France, and the UK. Duell’s net sales in 2023 was EUR 119 million and it employs over 200 people. Duell’s shares are listed on the Nasdaq First North Growth Market Finland marketplace. www.duell.eu