Hansa Medical’s warrant program TO2015 has opened for exercise and subscription of shares
The TO2015 warrant-based incentive program for Hansa Medical employees was implemented following a resolution at the 2015 Annual General Meeting in order to reward and incentivize Hansa Medical employees. The warrants were sold to the company’s employees for an estimated market value of the warrants using the Black & Scholes model. As of today, 205,000 out of 355,000 warrants have been exercised for subscription of shares at the subscription price SEK 44.15 per share. The increase in the company’s share capital upon full exercise of the warrants will amount to SEK 355,000.
In addition to the warrant program TO2015, two long term incentive programs, LTIP2016 and LTIP2018, are currently ongoing. Under the LTIP2016 program, so called performance-based share awards have been allotted to employees which, provided that certain conditions are met, may give right to receive a maximum of 251,173 shares free of charge as from November 28, 2019 through May 18, 2020.
Under the LTIP2018 program, employees are given the opportunity to receive warrants at market value and/or receive so called performance-based share awards free of charge which, provided that certain conditions are met, may give the right to receive shares in the company. A maximum of 491,419 warrants or 297,902 share awards may be allotted to participants. Each warrant entitles the holder to subscribe for one new ordinary share in Hansa Medical as from June 12, 2021 through June 12, 2022 and share awards may entitle to shares as from June 2021.
For a description of the company’s long-term incentive programs, please see the company’s annual report 2017, page 45, and the company’s website, www.hansamedical.com.
The information was submitted for publication, through the agency of the contact person set out below, at 8:00 am CEST on June 15, 2018.