OSLO, Norway, April 26, 2017 /PRNewswire/ -- Asetek A/S' board of directors has on April 25th 2017 decided to issue warrants to board members and key employees in the company and its subsidiaries. The board's decision is made in accordance with the shareholder authorization to the board adopted as Article 6.1 of the articles of association and the company's general guidelines regarding incentive programs.
A total of 509,687 warrants have been issued for subscription of up to 509,687 shares of a nominal value of DKK 0.10 at an exercise price of NOK 76.25 per share. The exercise price is established as the share price ("closing price") for the Company's share as of April 25, 2017. Prior to the issue of any shares under this program, Asetek A/S has 25,457,752 shares outstanding.
Warrants granted to employees in a Danish entity are limited by and governed by the Danish Act on Options for Employees (the Stock Option Act/aktieoptionsloven) regarding termination of employment prior to exercise of warrants.
The warrants become exercisable gradually within a period of 1 to 4 years and the warrants will lapse 7 years after they have been subscribed.
Under this program four board members will receive a total of 17,600 warrants. The executive management will receive a total of 176,196 warrants and other senior management members will receive a total of 103,891 warrants. Information regarding board members' and senior management's share and option/warrants holdings is available on the company's' website.
The award of warrants will incur consequential amendments to the articles of association.
Asetek (ASETEK.OL) is the global leader in liquid cooling solutions for data centers, servers and PCs. Founded in 2000, Asetek is headquartered in Denmark and has operations in California, Texas, China and Taiwan. Asetek is listed on the Oslo Stock Exchange. For more information, visit www.asetek.com
For further information, please contact:
Peter Dam Madsen
Chief Financial Officer
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