Ensurge Micropower ASA - Grant of Incentive Subscription Rights

Rhea-AI Summary

Ensurge Micropower ASA announced on 23 August 2022, the issuance of 850,000 incentive subscription rights to its employees, as part of a plan ratified during the Annual General Meeting on 25 May 2022. The rights have an exercise price of NOK 3.4320 per share, vesting 50% per year over two years, and expiring on 25 May 2027. With this issuance, the total outstanding incentive subscription rights amounts to 23,533,852.

Positive

• Issuance of 850,000 incentive subscription rights may enhance employee motivation and retention.
• Total outstanding incentive subscription rights increases to 23,533,852, indicating strong employee engagement.

Negative

• None.

The board of directors of Ensurge Micropower ASA (the "Company") resolved on 23 August 2022 to issue a total of 850,000 incentive subscription rights to employees in the Ensurge group. The grants were made under the Company's 2022 incentive subscription rights plan as resolved at the Annual General Meeting on 25 May 2022. The exercise price of the subscription rights is NOK 3.4320 per share. The subscription rights vest by 50% per year over two years and expire on 25 May 2027. Following the grants, there are 23,533,852 incentive subscription rights issued and outstanding in the Company. 

Contact 
Ståle Bjørnstad - Investor Relations 
E-mail: stale.bjornstad@ensurge.com (mailto:stale.bjornstad@ensurge.com)  
Phone: +47 99 16 76 72

Kevin Barber - Chief Executive Officer 
E-mail: kevin.barber@ensurge.com (mailto:kevin.barber@ensurge.com)

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

About Ensurge:

Ensurge is Energizing Innovation™ with the first ultrathin, flexible, reliable, and fundamentally safe solid-state lithium microbattery for the 1-100 milliampere-hour (mAh) class of wearable devices, connected sensors, and beyond. The innovative Ensurge Microbattery enables energy-dense rechargeable products that are ideal for form-factor-constrained applications including hearables (hearing aids and wireless headphones), digital and health wearables, sports and fitness devices, and IoT sensor solutions that use energy harvesting to power everyday things. The company’s state-of-the-art manufacturing facility, located in the heart of Silicon Valley, combines patented process technology and materials innovation with the scale of roll-to-roll production methods to bring the advantages of Ensurge technology to established and expanding markets.

FAQ

What did Ensurge Micropower announce on 23 August 2022?

Ensurge Micropower announced the issuance of 850,000 incentive subscription rights to employees.

What is the exercise price of the subscription rights for Ensurge Micropower?

The exercise price of the subscription rights is NOK 3.4320 per share.

When do the subscription rights issued by Ensurge Micropower expire?

The subscription rights expire on 25 May 2027.

How many total incentive subscription rights are now outstanding for Ensurge Micropower?

There are now 23,533,852 incentive subscription rights outstanding.