Ensurge Micropower ASA - Grant of Incentive Subscription Rights

Rhea-AI Summary

On May 3, 2022, the board of directors of Ensurge Micropower ASA approved the issuance of 161,500 incentive subscription rights to employees as part of the 2021 incentive plan. The exercise price is set at NOK 3.6422 per share. These rights will vest at 50% per year over two years and will expire on June 3, 2026. Following this issuance, the total number of incentive subscription rights outstanding is now 21,098,240.

Positive

• The issuance of subscription rights can incentivize employees, potentially aligning their interests with company performance.

Negative

• The exercise price of NOK 3.6422 may reflect a premium that could strain employee participation.
• The substantial number of outstanding rights (21,098,240) might lead to shareholder dilution if exercised.

The board of directors of Ensurge Micropower ASA (the "Company") resolved on 3 May 2022 to issue a total of 161,500 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 3.6422 per share. The subscription rights vest by 50% per year over two years and expire on 3 June 2026. Following the grants, there are 21,098,240 incentive subscription rights issued and outstanding in the Company.

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 are the details of the subscription rights issued by Ensurge Micropower ASA?

On May 3, 2022, Ensurge Micropower ASA issued 161,500 subscription rights at NOK 3.6422 per share, vesting 50% per year for two years, expiring on June 3, 2026.

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

Following the latest issuance, there are 21,098,240 incentive subscription rights outstanding.

What is the exercise price for the subscription rights issued by Ensurge Micropower ASA?

The exercise price for the subscription rights is NOK 3.6422 per share.

When do the subscription rights expire for Ensurge Micropower ASA?

The subscription rights will expire on June 3, 2026.