Ensurge Micropower ASA – Grant of incentive subscription rights
On May 25, 2022, Ensurge Micropower ASA convened its Annual General Meeting, which approved the issuance of 2,000,000 incentive subscription rights to the two new board members, 1,000,000 each. The exercise price is set at NOK 2.5 per share, with rights vesting over two years in quarterly increments of 12.5%, starting three months post-grant. This strategic move aims to align board member incentives with shareholder interests.
- Issuance of 2,000,000 subscription rights aligns board incentives with shareholder interests.
- Subscription rights vesting over two years promotes long-term commitment from new board members.
- None.
Oslo, 25 May 2022
Reference is made to the announcement by Ensurge Micropower ASA (“Ensurge” or the “Company”) on 25 May 2022 regarding the Annual General Meeting held on the same date.
The Annual General Meeting resolved to issue a total of 2,000,000 incentive subscription rights to the two new members of the board of directors, i.e., 1,000,000 to each new board member. Each subscription right shall entitle the holder to demand the issuance of one share in the Company. The exercise price of the subscription rights is NOK 2,5 per share. The subscription rights shall vest and become exercisable over a period of two years after the date of grant, in equal quarterly terms, starting three months after the date of grant (12,5 % each quarter).
Contact
Ståle Bjørnstad - Investor Relations
E-mail: stale.bjornstad@ensurge.com
Phone: +47 99 16 76 72
Kevin Barber - Chief Executive Officer
E-mail: kevin.barber@ensurge.com
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
FAQ
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