Ensurge Micropower ASA: Subscription Rights Exercise

Rhea-AI Summary

Ensurge Micropower ASA announced the issuance of 1,050,050 ordinary shares at a subscription price of NOK 0.33 each, exercised by a former employee under its 2020 incentive subscription rights plan. Following this share capital increase, the company's total share capital will reach NOK 192,230,269.22, comprised of 1,747,547,902 shares with a par value of NOK 0.11 per share. This development follows a previous announcement on 13 September 2020 regarding the incentive plan.

Positive

• Issuance of 1,050,050 shares demonstrates employee incentive alignment.

Negative

• Dilution of existing shareholders' equity due to share issuance.

Oslo, 27 January 2022

Reference is made to the announcement by Ensurge Micropower ASA ("Ensurge" or the "Company") on 13 September 2020 regarding the grant of incentive subscription rights to employees in the group under the Company’s 2020 incentive subscription rights plan, as resolved at the Extraordinary General Meeting on 19 August 2020. 

The board of directors of Ensurge has resolved to issue in total 1,050,050 ordinary shares at a subscription price of NOK 0.33 per share to a former employee who has exercised incentive subscription rights granted under the 2020 incentive subscription rights plan.

Upon registration of this share capital increase, the Company's share capital will be NOK 192,230,269.22 divided into 1,747,547,902 shares, each share having a par value of NOK 0.11. 

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 share subscription price for the new shares issued by ENMPY?

The subscription price for the new shares issued by Ensurge Micropower ASA (ENMPY) is NOK 0.33 per share.

How many shares will Ensurge Micropower ASA issue?

Ensurge Micropower ASA will issue a total of 1,050,050 ordinary shares.

What is the total share capital of Ensurge Micropower ASA after the new issuance?

After the new share issuance, the total share capital of Ensurge Micropower ASA will be NOK 192,230,269.22.

Why were the new shares issued by Ensurge Micropower ASA?

The new shares were issued as a result of the exercise of incentive subscription rights granted to a former employee under the company's 2020 incentive subscription rights plan.