q.beyond executives acquire 1 million shares
- Share plan aligns interests of shareholders and executives
- Plan only kicks in if share price more than doubles by end of 2022
- Second plan to promote share purchases by all employees from early 2021
Cologne, 15 October 2020 – By launching two bespoke share plans, q.beyond is underlining its capital market orientation and adopting a new approach enabling all employees to participate in its performance. The IT service provider, which resulted from a rebranding of QSC AG in mid-September, is currently implementing a share plan for its executives. This will be followed in the first quarter of 2021 by a share plan for the whole workforce.
Clear commitment: Executives invest their own cash
The company’s executives acquired a total of 1 million shares via the stock exchange in the period between 1 September and 9 October 2020. Top executives purchased 500,000 shares, while second-tier managers acquired the same volume of shares in q.beyond. This voluntary purchase of shares on their own account entitles the managers to participate in the new share matching plan. Explains company CEO Jürgen Hermann: “This share plan will supplement our existing remuneration policy. One key aspect of this is to align our business policies even more closely to the interests of our shareholders.” Achieving long-term growth targets and sustainably increasing the company’s value were crucial for the whole company. “Our managers are absolutely convinced by our new alignment. Like me, they are therefore prepared to invest substantial sums of their own money in q.beyond shares.” Jürgen Hermann recently raised his own shareholding by 50% to 1 million shares by acquiring shares via the stock exchange in spring 2020.
Share price of € 2.80 as minimum target
The new executive share plan runs until 31 December 2022. It only takes effect if q.beyond’s share price has risen to at least € 2.80 by then. Yesterday (14 October 2020), the share closed trading at € 1.25. Should the share price more than double, then the plan rewards the ongoing commitment shown by executives with a clearly defined number of matching shares, the issue of which is linearly dependent on the share price performance achieved and capped at a maximum share price of € 4.00.
Jürgen Hermann, who initiated the plan, comments: “We are not only reimagining our customers’ businesses, but also rethinking the incentives in place for those who drive our performance.” These managers had invested their own money in q.beyond on a long-term basis and would now make every effort to sustainably increase the company’s value. “Together with their private investment and clear commitment, the clear and transparent system of participation and multiyear assessment basis mean that our performance will be aligned even more directly to long-term value creation throughout the organisation. This will benefit all our shareholders.”
Employees also set to buy q.beyond shares via the stock exchange
The employee participation plan scheduled to be introduced at the beginning of 2021 was also in shareholders’ interests. This also provides for employees purchasing q.beyond shares on their own account via the stock exchange. The company will assist the acquisition of shares by covering part of the purchase price. Jürgen Hermann’s objective here is clear: “The more employees participate, the more their own interests will be consistent with those of our shareholders, the greater the rewards will be for the dedication shown by highly qualified and committed staff, and the more likely we are to retain these employees on a long-term basis.”
With these two share plans and their focus on the company’s competitive and sustainable development, q.beyond is actively promoting the transformation process currently affecting the entire industry. Its latest business performance underlines the new course it is pursuing within the “2020plus” growth strategy. The company is growing continually from quarter to quarter, new orders are at record levels and, even in the exceptional current circumstances, attractive solutions and growing markets are providing additional tailwind. Adds Jürgen Hermann: “The entire q.beyond team is working as one. We will continue to grow profitably and sustainably increase the company’s value.”
About q.beyond AG
q.beyond AG is the key to successful digitalisation. We help our customers find the best digital solutions for their business and then put them into practice. Our strong team of 900 people accompanies SME customers securely and reliably throughout their digital journey. We are experts in Cloud, SAP and IoT.
q.beyond AG results from the rebranding of QSC AG in September 2020. With nationwide locations and its own certified data centres, it is one of Germany’s leading IT service providers.
Head of Investor Relations/Mergers & Acquisitions
T +49 221 669 8724
F +49 221 669 8009
Head of Investor Relations / Mergers & Acquisitions
T +49 221 669-8724