Press release: Transfer of warrants in Nexam Chemical´s incentive program has been completed
Management and key personnel within the Nexam Chemical Group has signed for a total of 700,000 warrants in the incentive program 2014/2017 resolved at the Annual General Meeting in May 2014.
At the Annual General Meeting of Nexam Chemical Holding AB (publ) (“Nexam Chemical”) on 14th May 2014, it was resolved to implement an incentive program in which a maximum of 1,083,849 warrants could be transferred to senior executives and key personnel within the Nexam Chemical Group. A total of 700,000 warrants has now been transferred whereof 160,000 warrants have been transferred to CEO Anders Spetz. The board has the possibility to assign the remaining warrants at a later date and, as previously announced, there is an ongoing process of recruitment of senior executives.
In accordance with the resolution of the Annual General Meeting, the subscription price upon exercise of the warrants has been set to 35.20 SEK per share. This corresponds to 150 percent of the volume weighted average last closing price for the Company’s share, on Nasdaq OMX First North, during the period 1st September – 12th September 2014. The price for the warrant has been calculated at market value according to the “Black Scholes” formula and amounts to 0.20 SEK per warrant. In case all 2,028,625 warrants outstanding in the group are exercised, the aggregate dilution will amount to approx. 3.8 percent. For full terms and conditions of the incentive program, please see the resolution from the Annual General Meeting.
Note: This press release has been translated from Swedish. The Swedish text shall govern for all purposes and prevail in case of any discrepancy with the English version.
For further information please contact:
Lennart Holm, Chairman of the Board, +46-706 30 85 62, firstname.lastname@example.org