Ensurge Micropower ASA: Subscription Rights Exercise – 13 June 2022
Ensurge Micropower ASA announced the issuance of 621,324 shares with an exercise price of NOK 1.35 following the exercise of incentive subscription rights by a former board member. This action will increase the company's share capital to NOK 211,178,713.68, divided into 213,311,832 shares, each with a par value of NOK 0.99. The resolution was made in accordance with a prior Extraordinary General Meeting held on 19 August 2020. Ensurge specializes in solid-state lithium microbatteries for wearable technology and IoT applications.
- Issuing 621,324 shares can align the interests of former board members with the company's performance.
- Increased share capital may provide additional resources for innovation and business expansion.
- Shareholder dilution may occur due to the issuance of new shares.
- Dependence on the former board member's exercise of rights may indicate a reliance on past leadership.
Reference is made to the resolution made by the Extraordinary General Meeting held on 19 August 2020, regarding grants of incentive subscription rights to members of the Board of Directors in Ensurge Micropower ASA (“Ensurge” or the “Company”). Further reference is made to subsequent grants made in accordance with such resolution.
The Board of Directors of Ensurge has resolved to issue in total 621,324 shares with an exercise price of NOK 1.35 per share to a former board member who has exercised incentive subscription rights granted in accordance with the above resolution.
Upon payment and registration of the share capital increase, the Company's share capital will be NOK 211,178,713.68 divided into 213,311,832 shares, each share having a par value of NOK 0.99.
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.
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.
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