Grant and exercise of incentive subscription rights in IDEX.
On 24 February 2017, Dr. Hemant Mardia, primary insider and CEO of IDEX,
exercised 5,000,000 subscription rights that were granted to him under the
company’s 2013 incentive subscription rights plan and acquired the corresponding
number of shares at a weighted average price of NOK 1.69 per share. To fund the
exercise and tax amounts, Dr. Mardia sold 3,250,000 shares at a price of NOK
6.00 per share on the same day. Following these transactions, Dr. Mardia and his
close associates hold or control 2,115,625 shares and 3,250,000 subscription
rights in IDEX.
On 24 February 2017, Fred Benkley, primary insider and CTO of IDEX, was granted
750,000 subscription rights under the company’s 2016 incentive subscription
rights plan. The exercise price of the subscription rights is NOK 6.59 per
share. 25 % of the subscription rights vest on each anniversary from the date of
the grant. The subscription rights expire on 11 May 2021. In addition, the Board
resolved to extend the duration of 500,000 subscription rights granted to Mr.
Benkley in 2013, from 23 September 2017 until 16 May 2018. Following these
transactions, Mr. Benkley and close associates hold or control 0 (nil) shares
and 1,600,000 subscription rights in IDEX.
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The board of directors of IDEX ASA resolved on 24 February 2017 to issue
2,800,000 incentive subscription rights to certain employees and individual
contractors in the company. The grant was made under the company’s 2016
incentive subscription rights plan as resolved at the annual general meeting on
11 May 2016. The exercise price of the subscription rights is NOK 6.59 per
share. 25 % of the subscription rights vest on each anniversary from the date of
the grant. The subscription rights expire on 11 May 2021.
In addition, the Board resolved to extend the duration of 500,000 subscription
rights granted in 2013, from 23 September 2017 until 16 May 2018.
Exercise of incentive subscription rights
The board of directors of IDEX ASA resolved on 24 February 2017 to issue
6,462,500 new shares to employees who have exercised subscription rights which
were granted in 2013, 2014 and 2015 under the company’s incentive subscription
rights plans at the respective grant dates. The weighted average exercise price
per share is NOK 1.68.
Carnegie AS has placed 4,887,500 shares in IDEX in connection with the exercise
of subscription rights by employees.
Following the issue of the new shares, the company’s share capital will be NOK
81,036,413.25 divided into 540,242,755 registered shares each with a nominal
value of NOK 0.15. Following the grant and exercise there will be 22,500,000
subscription rights outstanding.
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