Releases

Hoivatilat Plc's Directed Share Issue without Consideration Pursuant to Share-Based Incentive Plan

The Board of Directors of Hoivatilat Plc (the "Company") has on November 5, 2019 decided on a directed share issue without consideration to the participants in Hoivatilat's existing long-term incentive plan (the "Share-Based Incentive Plan") for the payment of share rewards in accordance with the Share-Based Incentive Plan (the "Directed Share Issue").

More detailed information about the terms of the Share-Based Incentive Plan and launch of the performance period has been provided in a stock exchange release published on June 13, 2018. The effect of the public cash tender offer by Aureit Holding Oy (the "Tender Offer"), announced on November 4, 2019, on the terms and completion of the Share-Based Incentive Plan has been published in a stock exchange release on November 4, 2019.

In the Directed Share Issue, 63,400 new shares are issued without consideration to participants entitled to share rewards in accordance with the terms of the Share-Based Incentive Plan. The Directed Share Issue is conditional upon the commencement of the offer period under the Tender Offer, and the new shares to be issued are intended to be registered promptly after the commencement of the offer period under the Tender Offer. In addition, the participants entitled to reward payments will be paid a cash reward intended to cover taxes in accordance with the terms of the Share-Based Incentive Plan.

The Directed Share Issue decision is based on the authorization granted to the Board of Directors by the Company's General Meeting of Shareholders held on March 26, 2019. As the purpose of the Directed Share Issue is to commit and incentivize the key personnel of the Company, there is an especially weighty financial reason to deviate from the pre-emptive rights of the shareholders, as required by the Finnish Companies Act.

Following the Directed Share Issue, the total number of shares in the Company is 25,502,629 including treasury shares.

HOIVATILAT PLC

Board of Directors

Additional information

Pertti Huuskonen
Chairman of the Board
Hoivatilat Plc
tel. +358 40 068 0816

Hoivatilat in brief

Hoivatilat Plc specialises in producing, developing, owning and leasing out nursing homes, day care centres and service communities. Founded in 2008, the company has been working in cooperation with as many as 60 Finnish municipalities and has launched 200 property projects throughout Finland and in Sweden. www.hoivatilat.fi