KIT – Issue of shares under share incentive program
01 Junio 2023 - 12:27PM
KIT – Issue of shares under share incentive program
(2023-06-01) Reference is made to Kitron ASA's previous
disclosures regarding its share incentive program. Kitron has
received exercise notices from the participants in the share
incentive program and Kitron's board of directors has consequently
resolved to issue 526,081 new shares. The shares are issued to the
option holders at a strike price of NOK 0.10 per share pursuant to
the board authorisation resolved in Kitron's general meeting held
28 April 2023.
In total, 1,250,000 options were exercised. However, the
incentive program is capped at 200 per cent increase of the market
capitalization for the shares that are issued, adjusted for
dividends and possible share buy backs. As a result, the number of
shares that may be subscribed has been reduced with 354,085
shares.
In addition, Kitron has decided to convert 369,834 exercised
options under the share incentive program against cash
consideration. The cash consideration will be utilised to cover the
tax cost for the option holders which will be subject to advance
tax deduction by Kitron after exercise of the options. The
conversion of options is made at NOK 45.60, which is equal to the
closing price on Oslo Børs on 31 May 2023 less the strike price of
NOK 0.10 per share.
The following primary insiders have exercised options and
subscribed for shares in the share capital increase:
|
Number of shares subscribed for |
Number of options converted against cash consideration |
Peter Nilsson, CEO and President |
162,055 |
131,805 |
Cathrin Nylander, CFO |
46,743 |
39,265 |
Kristoffer Asklöv, COO |
37,519 |
34,154 |
Stian Haugen, CTO |
49,290 |
36,718 |
Hans Petter Thomassen, Managing Director Kitron Norway & VP
North America |
47,595 |
38,413 |
Mindaugas Sestokas, Managing Director Kitron Lithuania & VP
Central Eastern Europe |
61,641 |
24,367 |
Stefan Hansson Mutas, Managing Director Kitron Sweden |
45,263 |
40,745 |
Zygimantas Dirse, Managing Director Kitron China |
61,641 |
24,367 |
Carsten Christensen, CEO of BB Electronics |
7,167 |
0 |
Primary insider notifications pursuant to the market abuse
regulation article 19 are attached.
Kitron has furthermore resolved to exercise a right under the
share incentive program to implement trading restrictions on the
shares issued under the abovementioned share capital increase. All
shares issued will be subject to trading restrictions with a
duration of three years; however, so that the last two years, one
eighth of the total number of new shares will vest and become
tradable each quarter.
For further information, please contact:Tuomo Lähdesmäki,
Chairman of the Board of KitronTel.: +358-50-5879648E-mail:
investorrelations@kitron.com
Kitron is a leading Scandinavian electronics manufacturing
services company for the Connectivity, Electrification, Industry,
Medical devices and Defence/Aerospace sectors. The group is located
in Norway, Sweden, Denmark, Lithuania, Germany, Poland, the Czech
Republic, India, China and the United States. Kitron has about 3
200 employees, and revenues were EUR 641 million in2022.
www.kitron.com (http://www.kitron.com)
This information is made public by the Company pursuant to the
EU Market Abuse Regulation article 19, and is subject to the
disclosure requirements pursuant to Section 5-12 the Norwegian
Securities Trading Act.
- Kitron KRT 1500 options 2023
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