Share related incentive programmes
At the annual general meeting of Instalco held on 7 May 2020, it was resolved to adopt an incentive programme for the group’s senior executives and other key persons through the issuance of warrants giving right to subscribe for new shares in the company.
At full subscription with the support of all warrants, a maximum of 989,256 new shares may be issued, corresponding to a dilution of approximately 2 percent of both the current number of outstanding shares and the maximum number of additional shares from previous programs at the time of the resolution, however, subject to the conversion of the number of shares that each warrant eligible for the subscription.
The warrants have been transferred on market terms at a price (premium) determined based on an estimated market value of the warrants using the Black & Scholes valuation model carried out by an independent valuation institution.
Each warrant entitles the warrant holder to subscribe for one new share in the Company at an exercise price of 115 per cent of the volume weighted average price according to Nasdaq Stockholm’s official price list for the share during five bank days following the annual general meeting 2020. The exercise price may not be lower than the shares quotient value.
Application for subscription may take place between 22 May 2023 and 16 June 2023, or such earlier dates as determined by some circumstances as specified in the terms and conditions for the warrants.
The complete terms and conditions for the warrants are available here.
There are no share related incentive programs outstanding in the company other than the warrants described above.