As an external investor who has followed the company’s journey on the stock exchange very closely, a clear challenge I’ve observed from the outside is that it has been difficult, in my opinion, to get new key personnel committed to Inderes for the long term with the tools available at the time. Mikael, Juha, Sauli, and other partners are very committed due to historical reasons.
So, how do you commit new key personnel? Or new individuals in general? The share savings program has been an excellent solution for this, in my opinion, requiring everyone to put their own money on the line, which commits them significantly better than the famous “free money” or, in this case, shares.
Regarding potential dilution, I, as a shareholder, cannot cry myself to sleep at night because key personnel receive compensation for their work if the share price has multiplied. Inderes does not have the best monetary compensation in the industry, and I much rather accept this than pure cash bonuses.
Regarding the size of the board, I believe it could be even larger than the currently expanded board if it is deemed to add value to the company’s development, for example, in terms of technical know-how or extensive networks through which a future board member could open doors, allowing, for instance, Videosync to be sold completely independently.
If we consider that 8.5% of the current market value (26.5 million) would be 2.25 million euros, and the company’s market value would be around 100 million when the period ends, the compensation is, in my opinion, very affordable. It is likely that the company will not reach this hundred million, and the compensation will then be significantly smaller. Is that then in the owners’ interest?
A much more essential part of this story than compensation would be to get the top line truly growing again, and if this can commit key personnel to work long hours without any certainty of the reward’s size or whether it will even materialize, I believe this is an excellent incentive.