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 (Restricted Share Unit Plan 2024-2025) for selected 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 and to commit key employees to the company.

The Board of Directors may allocate rewards from the plan during the financial year 2024. The value of the rewards to be paid on the basis of the plan corresponds to a maximum total of 11,000,000 shares of Duell Corporation, including also the proportion to be paid in cash. The target group consists of CEO, members of the Management Team and other selected key employees.

The rewards will be paid after the financial year 2025 and by the end of November 2025 at the latest. The reward is based on a valid employment or director contract and on the continuity of the employment or service.

The reward will be paid 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’s 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 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 equals to 100 per cent of the CEO’s annual base salary for the preceding calendar year. Such number of Duell shares must be held as long as the membership in the Management Team or the position as the CEO continues. 

For additional information, please contact: 

Jarkko Ämmälä, CEO
Duell Corporation
+358 50 056 5149
jarkko.ammala@duell.eu

Pellervo Hämäläinen, Communications and IR Manager
Duell Corporation
+358 40 674 5257
pellervo.hamalainen@duell.eu

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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 boating. 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