In accordance with its obligation as an issuer to provide notification of extraordinary events under Article 55 of the Capital Market Act CXX of 2001 (“Capital Market Law“), ALTEO Energiaszolgáltató Nyilvánosan Működő Részvénytársaság (head office: H-1033 Budapest, Korház utca 6-12; company registration number: Cg.01-10-045985; below: “Company” or “ALTEO“) hereby provides the
ALTEO, as Founder of the Organization of the Employee Share Ownership Program ALTEO (hereafter
“ESOP organization“), adopted the Remuneration Policy for 2024 and the compensation policy for 2025 (hereinafter collectively the “Remuneration policies“).
ALTEO’s fundamental objective is to foster the future improvement of the company’s economic performance based on innovation, and the company has a related interest in strengthening the performance and retention of its employees by involving them in the business success.
The Company has launched several employee share ownership programs in recent years and based on the experience gained, it has concluded that the remuneration under the employee share ownership program is appropriate to achieve the objectives described above, and therefore the Company adopts several remuneration policies simultaneously to ensure long-term and predictable remuneration.
The objective of the Remuneration Policies is to set up a remuneration system in harmony with ALTEO’s business strategy and aimed at improving the performance of the ALTEO Group and, thus, increasing shareholder value, in line with the associated HR strategy, ALTEO’s long-term commitment. long-term interests and corporate values, while providing employees and associates with an attractive long-term incentive program. the
Compensation policies also help boost employee engagement and help employees become parties interested in representing the values of ALTEO by making their remuneration subject to an increase
business performance and, therefore, to the expected increase in shareholder value.
ALTEO provides the ESOP Organization with the ALTEO ordinary shares underlying the plans through a private offer in accordance with Article 14 of the Capital Market Law and through a capital increase by issuance new shares in accordance witht in Article 1(4)(b) and (d) of Regulation (EU) 2017/1129 (“Rules Prospectus“). The capital increase decision was adopted today by ALTEO’s Board of Directors,
that only the ESOP Organization participates in the capital increase. The ESOP Organization has the information necessary to decide whether or not to participate in the capital increase, which information is published in the mandatory information places of the Company. Since no other investor is involved in the capital increase, equal information within the meaning of Article 16 of the Capital Market Law is ensured and the publication of other documents relating thereto is not required.
The Company informs investors of the details of the capital increase after the definitive declaration of commitment and the payment of the consideration – at the due date – as outlined in today’s Board decision.
The Remuneration Policies are published by ALTEO at the same time as this Communication.
Budapest, April 20, 2022
Disclaimer: All information in this article is provided for informational purposes only and should not be considered an official translation of the official communication referred to herein. This document does not include the full wording of the official communication referred to herein, the original Hungarian language version thereof remaining the only legally binding document on the matter. For more information, please feel free to contact us.
ALTEO Energiaszolgaltató Nyrt. ⎢ H-1033 Budapest, Korhaz u. 6-12 Telephone: +36 1 236 8050 ⎢ Fax: +36 1 236 8051 ⎢ E-mail:[email protected]
Registered by: Budapest-Capital Regional Court as registration court ⎢ Cg. 01-10-045985