NANO: Nordic Nanovector ASA - Allocation of PSUs
Oslo, Norway, 29 January 2018
The Board of Directors of Nordic Nanovector ASA (“Nordic Nanovector” or the
"Company") has on 29th of January 2018 decided to grant 216 550 Performance
Share Units (“PSUs”) to employees in accordance with the authorisation granted
at the Extraordinary General Meeting held on 20 December 2017 (the “EGM”).
The terms and conditions of the PSUs, which are part of the Company’s new long
-term incentive plan for employees, are described in the Board of Directors’
amended proposal for share based incentive program, available in English and
Norwegian at www.nordicnanovector.com/investors-and-media/corporate
-governance/general-meetings.
The PSUs are granted without consideration. The PSU are non-transferable and
will vest three years after the date of grant subject to satisfaction of the
applicable vesting conditions described in appendix 3 to the summons to the EGM
and the PSU agreements. Each vested PSUs will give the holder the right to
acquire one share in the Company at an exercise price corresponding to the par
value of the shares being NOK 0.20.
In accordance with the resolution at the EGM the PSUs and the options previously
granted are secured by a corresponding number of free-standing warrants. The
sole purpose of the warrants is to ensure delivery of shares in the Company upon
exercise of the PSUs and options. The warrants do not give the PSU holders or
the option holders a right to subscribe for any additional shares in the
Company.
Primary insiders that were granted PSUs on 29th of January 2018 have the
following holding of PSUs, options and shares in the Company following such
grant:
Luigi Costa, CEO holds 30,000 PSUs, 1,338,106 options and 81,115 shares
Rosemarie Corrigan, CQO holds 20,000 PSUs, 0 options and 0 shares
Jostein Dahle, CSO holds 12,000 PSUs, 150,000 options and 204,958 shares
including shares to related party
Anniken Hagen, CTOO holds 5,000 PSUs, 177,000 options and 63,858 shares
Rita Dege, CHRO holds 6,500 PSUs, 67,000 options and 4,754 shares
Tone Kvåle, CFO holds 20,000 PSUs, 315,000 options and 179,608 shares including
shares to related party
Marco Renoldi, COO holds 25,000 PSUs, 464,137 options and 74,000 shares
Lisa Rojkjaer, CMO holds 25,000 PSUs, 375,000 options and 4,186 shares
The PSUs allocated to the management of the Company is in accordance with the
amended Board of Director’s declaration on salaries and other remuneration to
the senior executive management, as approved by the Company’s EGM. The total
number of outstanding options and PSUs are now 3 482 843 and 216 550
respectively. Subject to all vesting conditions being fulfilled exercise of the
options and PSUs would create a 7.1 % dilution of the outstanding shares on a
fully diluted basis.
For further information, please contact:
Ludvik Sandnes, Chairman
Phone: +47 907 43 017
E-mail: lsandnes@nordicnanovector.com