Ensurge Micropower ASA - Mandatory Notice of Trade for Primary Insiders

Reference is made to the announcement by Ensurge Micropower ASA ("Ensurge" or the "Company") on 11 July 2023 regarding the Extraordinary General Meeting held on the same day, where all proposals on the agenda were approved by the shareholders.

The Extraordinary General Meeting approved the issuance of 10,000,000 independent subscription rights in the Company to each of newly elected board member Nina Riibe and existing board member Morten Opstad. The independent subscription rights are granted for no consideration and shall have an exercise price of NOK 0.10 per share. 

Of the subscription rights granted to Nina Riibe, 20% of the subscription rights shall vest and become exercisable 12 months after the date of grant, a further 30% of the subscription rights shall vest and become exercisable after 24 months from the date of grant, while the remaining 50% of the subscription rights shall vest and become exercisable 36 months following the date of grant.

Of the subscription rights granted to Morten Opstad, 1/3 of the subscription rights shall vest immediately upon the date of grant (but will not be exercisable until 12 months from 24 May 2023 (Trigger Date), a further 1/3 of the subscription rights shall vest and become exercisable after 12 months from the Trigger Date, while the remaining 1/3 of the subscription rights shall vest and become exercisable 24 months following the Trigger Date. 

The subscription rights expire on 24 May 2028.

Please see the enclosed forms for further details about the transactions. 

Contact

Terje Rogne, Chair 
Phone: +47 472 02 200

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

Attachments

• Nina Riibe - Appendix
• Morten Opstad - Appendix