Company Announcement no. 102 – 2021
The Board of Directors of
The grant of additional warrants is made as a result of the completion of the Company’s rights issue in
Reference is also made to the Company’s prospectus published on
General Warrant Programme 2019 and 2020, respectively
As a result of the Offering non-exercised warrants issued under the General Warrant Programme 2019 have been adjusted in accordance with the warrant terms applicable and the Company has issued additional 6,404 warrants to the warrant holders under this programme, corresponding to 0.14% of the Company’s total outstanding share capital. These additional warrants are subject to the same terms as the warrant holders’ original warrants under the programme, including in relation to vesting and exercise price. The theoretical market value of these warrants amounts to
Further, as a result of the Offering non-exercised warrants issued under the General Warrant Programme 2020 have been adjusted in accordance with the warrant terms applicable and the Company has issued additional 2,726 warrants to the warrant holders under this programme, corresponding to 0.06% of the Company’s total outstanding share capital. The theoretical market value of these warrants amounts to
These additional warrants are subject to the same terms as the warrant holder’s original warrants under the relevant warrant programme:
- Warrants granted under the General Warrant Programmes vest with 1/24 per month from the initial grant,
- Exercise of the warrants may take place during open trading windows following publication of the Company’s annual report and interim reports in the period from vesting of all warrants until five years after the date of the initial grant,
- The exercise price for the warrants are based on the average closing price quoted on Nasdaq Copenhagen Main Market during the month leading up to the initial grant of warrants.
- Under the General Warrant Programme 2019, all employees and members of the Board of Directors and Executive Management of the Company and its subsidiaries that had been employed for a minimum of six months were granted warrants.
- The General Warrant Programme 2020 was implemented and agreed early
October 2020 . - The terms of the warrant issues are described in further detail in the Company’s Articles of Association and reference is further made to the Company’s company announcements no. 29-2019, no. 41-2019 and no. 64-2020.
Extraordinary Warrant Programme 2020
As a result of the Offering non-exercised warrants issued under the Extraordinary Warrant Programme 2020 have been adjusted in accordance with the warrant terms applicable and the Company has issued additional 12,203 warrants to the warrant holders under this programme, corresponding to 0.28% of the Company’s total outstanding share capital. The theoretical market value of these warrants amounts to
These additional warrants are subject to the same terms as the warrant holder’s original warrants.
Warrants granted under the Extraordinary Warrant Programme are subject to the same terms and conditions as for the General Warrant Programme with the following exceptions:
- Warrants were only granted to the Executive Management and a group of employees in the Company;
- The Extraordinary Warrant Programme solely consists of a one-time grant of warrants;
- Warrants vest as on the terms and conditions as determined by the Board of Directors in connection with the initial grant;
- Warrants can be exercised in the period from vesting and up to five years after the initial grant; and
- The exercise price for each warrant is
DKK 1.00 .
The terms of the warrant issues are described in further detail in the Company’s Articles of Association and reference is further made to the Company’s company announcement no. 64-2020.
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Attachment
- Warrant adjustment following Rights Issue completion
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