Ensurge Micropower ASA - Grant of Incentive Subscription Rights

Rhea-AI Summary

On August 27, 2021, Ensurge Micropower ASA's board approved the issuance of 10,650,000 incentive subscription rights to employees as part of the 2021 incentive plan. The rights have an exercise price of NOK 0.6594 per share, vesting 50% annually over two years and expiring on June 3, 2026. After this issuance, a total of 191,929,369 subscription rights are outstanding. This development is part of the company's strategy to incentivize employees and strengthen engagement.

Positive

• Issuance of 10,650,000 incentive subscription rights to employees, enhancing motivation.
• Subscription rights vest 50% annually, promoting long-term commitment.

Negative

• None.

Oslo, 27 August 2021

The board of directors of Ensurge Micropower ASA (the "Company") resolved on 27 August 2021 to issue a total of 10,650,000 incentive subscription rights to employees in the Ensurge group. The grants were made under the Company's 2021 incentive subscription rights plan as resolved at the Annual General Meeting on 3 June 2021. The exercise price of the subscription rights is NOK 0.6594 per share. The subscription rights vest by 50% per year over two years and expire on 3 June 2026. Following the grants, there are 191,929,369 subscription rights issued and outstanding in Ensurge.

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

What is the significance of the subscription rights issued by ENMPY on August 27, 2021?

The issuance of 10,650,000 subscription rights is aimed at motivating employees and aligns their interests with those of shareholders.

What is the exercise price for the employee subscription rights in ENMPY?

The exercise price for the subscription rights is NOK 0.6594 per share.

When do the new subscription rights issued by ENMPY expire?

The subscription rights will expire on June 3, 2026.

How many subscription rights are currently outstanding for ENMPY after the recent issuance?

Following the new grants, there are 191,929,369 subscription rights outstanding in Ensurge Micropower ASA.

What is the vesting schedule for the subscription rights issued by ENMPY?

The subscription rights vest 50% per year over a two-year period.