Adjustment of exercise price on outstanding options and granting of share options to the Executive Management team
Wednesday, February 5, 2025
AALBORG, Denmark, Jan. 28, 2025 /PRNewswire/ -- Asetek A/S (the "Company" or "Asetek") announces that its Board of Directors, on January 27, 2025, resolved to adjust the exercise prices of all outstanding option and warrant plans granted to employees as a direct effect of the terms of each respective option plan. The adjustment is a customary technical adjustment following the recently completed rights issue. The Board also resolved to change the currency denomination for all outstanding programs.
In accordance with the terms of each respective option plan, holders of options and warrants shall not be financially disadvantaged by the dilution caused by the Company's recent rights issue. As a result, the board of directors has decided to adjust the exercise prices by a factor of 51.1%. The table below outlines the newly adjusted exercise prices for all outstanding option and warrant plans:
Grant date Expiry date Exercise price Exercise price adjusted
for
(DKK) the Offering
(DKK)
October 30,
2018 October 29, 2025 13.82 7.06
September 8, September 8,
2019 2026 7.37 3.76
April 21,
2020 April 21, 2027 11.44 5.84
September 5, September 5,
2022 2027 4.49 2.29
December 12, December 12,
2023 2028 4.07 2.08
Furthermore, the Board of Directors of Asetek A/S has also resolved to grant share options to members of the Executive Management Team and former COO John Hamill, in accordance with the terms of their respective employment agreements.
A total of 15,532,800 options have been granted, distributed as follows:
-- CEO André Sloth Eriksen: 9,312,300 options
-- CFO Peter Dam Madsen: 3,233,400 options
-- Former COO John Hamill: 2,987,100 options
The exercise price for the options is DKK 0.43, calculated as the average closing price of Asetek A/S shares on the Nasdaq Copenhagen stock exchange during the five most recent trading days prior to and including the grant date on January 27, 2025. The options will vest after three years and will expire five years from the grant date. As of January 27, 2025, Asetek A/S has a total of 318,239,258 shares outstanding.
The new share option grant for the Executive Management team is part of their respective employment agreements and was originally planned to be granted in 2024. However, the board decided to await the outcome of the recent rights issue before proceeding. Former COO John Hamill is included in this grant to fulfill the terms of his employment agreement.
For further information, please contact:
Per Anders Nyman, Head of Investor Relations
Mobile: +45 2566 6869
E-mail: pny@asetek.com
About Asetek
Asetek (ASTK), a global leader in mechatronic innovation, is a Danish garage-to-stock-exchange success story. Founded in 2000, Asetek established its innovative position as the leading OEM developer and producer of the all-in-one liquid cooler for all major PC & Enthusiast gaming brands. In 2021, Asetek introduced its line of products for next level immersive SimSports gaming experiences. Asetek is headquartered in Denmark and has operations in China, Taiwan and the United States.
This information was brought to you by Cision http://news.cision.com.
https://news.cision.com/asetek/r/adjustment-of-exercise-price-on-outstanding-options-and-granting-of-share-options-to-the-executive-m,c4096770
The following files are available for download:
https://mb.cision.com/Main/6758/4096770/3228282.pdf Release
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SOURCE Asetek
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