Lumi Gruppen AS | Establishment of a long-term management incentive program
Lumi Gruppen AS | Establishment of a long-term management incentive program
Oslo, 26 November 2025
The board of Lumi Gruppen AS (the "Company") has resolved to establish a new long-term incentive plan for certain key employees of the Company and its subsidiaries (the "LTIP"). The Board believes equity-based remuneration is essential for the recruitment and retention of key employees, as well as ensuring access to talent for the Company.
The LTIP is structured such that certain key employees are granted awards that, subject to certain performance criteria being met, may be converted into shares in the Company over a term of four years. The awards will be granted based on the Company's performance during the four consecutive school years from 2024/2025 to 2027/2028 (inclusive).
For the school year 2024/2025, 20% of the awards will vest on the date one year after the date of issuance, subject to the performance criteria being met. The remainder of the awards will vest evenly over the following three years, subject to the relevant performance criteria being met for the relevant school year. Any vested awards can be exercised by the participant on the date that falls two years following the date of the respective award vesting for school years 2025/2026 and 2026/2027 respectively, while any vested awards for the school year 2027/2028 can be exercised by the participant on the date that falls one year after the relevant date of the award vesting.
Issuance of shares under the LTIP will require a resolution by the general meeting of the Company or an authorisation from the general meeting to the board to increase the share capital. In the event that the Company's general meeting does not approve the issuance of shares for the purposes of settling any LTIP awards, the Company will reserve the right under the terms of the LTIP to settle any vested awards in cash.
Subject to all conditions under the LTIP being met, the maximum number of new shares in the Company that can be issued under the LTIP is 2,400,000 new shares, each with a strike price to be determined at the board of directors discretion.
Contact information
Martin Prytz, CFO
E-mail: [email protected]
Mobile: +47 480 14 078
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
About Lumi:
Lumi Gruppen is a leading Norwegian education provider founded in 1989. Today, Lumi Gruppen consists of two main divisions: Oslo Nye Høyskole (ONH) and Sonans. ONH is a private university college established in 2007, with 80% of the students studying online, supplemented by a brand new, modern and well-equipped campus opened in 2025 located in central Oslo. ONH has grown revenues by more than 15% per annum over the past 10 years, reflecting its focus on fast growing areas of study demand delivered across a modern, accessible and flexible mix of channels. Sonans is Norway’s market leader in high school private candidate exam preparation courses, primarily to help former high school students achieve better exam results and/or complete their high school diploma to enter higher education.