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Alteo purchases shares for ESOP

Green Energy

Listed alternative energy company Alteo said on Wednesday that it has purchased 135,700 shares from Dayton-Invest and Wallis Asset Management to be transferred into its Employee Stock Ownership Plan (ESOP), according to a report by state news wire MTI.

Alteo said that according to its remuneration policy, its ESOP entity must acquire 612,940 ordinary shares by March 31, 2022 in order to distribute them in 2023 to its employees for the 2022 business year, provided that the performance and capital market objectives set out in the policy are met by the end of 2022.

The company noted that with the current purchases, it has acquired the necessary numbers of shares for its ESOP goals, and the conditions for the share transfer are on schedule to be met.

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