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Better Collective establishes new Management Incentive Plan for management and key employees of Action Network

Written by Customer Service on . Posted in Public Companies.

Regulatory release 34/2021
 October 1, 2021

The board of directors (the “Board”) of Better Collective A/S has today decided to implement a new management incentive plan (the “MIP”) for the management and certain key employees in Action Network in the form of performance share units and share options.

The MIP has been designed by the Remuneration Committee and approved by the Board in Better Collective A/S with the focus to appropriately retain, motivate and reward the management and selected key employees in Action Network and to further align interests between participants in Action Network with those of Better Collective A/S’ shareholders. Better Collective’s management and Board has found it important to install a new MIP following the acquisition as the MIP replaces prior incentive programs that lapsed in connection with the recent acquisition of Action Network. The key performance drivers of the program are the financial forecasts for Action Network on revenue and EBITDA that were presented as part of the acquisition.  The MIP covers a grant of 473,563 performance share units and 201,238 share options to 20 employees in total.

The duration of the MIP is 3 years. The 3-year value of the program is 12 mUSD (Black-Scholes value) measured at the maximum level, which is to say 100% achievement of the business plan. The cost of the program (Black-Scholes value) will be expensed under Special Items during the vesting period. When the program ends after the 3-year period, Action Network participants will be included in Better Collective’s broader Long Term Incentive Program.

The MIP will have no dilutive effect on Better Collective A/S’ shareholders, since Better Collective A/S intends to initiate share buy-back programs to meet its obligations under the MIP.

The details of the plan are disclosed according to the rules of Nasdaq Stockholm, and can be found in the attached Appendix 1.

Enquiries regarding this announcement should be addressed to:
Investor contact: Christina Bastius Thomsen, +45 2363 8844    investor@bettercollective.com 
Media contact: Anders Crillesen +45 2779 1286   acrillesen@bettercollective.com 

This information is such information as Better Collective A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 8:25 pm CET, October 1, 2021.

About Better Collective

Better Collective is a global sports betting media group providing platforms that empower and enhance the betting experience for sports fans and iGamers. Aiming to make betting and gambling more entertaining, transparent and fair, Better Collective offers a range of editorial content, bookmaker information, data insights, betting tips, iGaming communities and educational tools. Its portfolio of platforms include bettingexpert.com, VegasInsider.com, HLTV.org and Action Network. Better Collective is headquartered in Copenhagen, Denmark, and listed on Nasdaq Stockholm (BETCO). More information at bettercollective.com.

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