THIN - Grant of Subscription Rights
The board of directors of Thin Film Electronics ASA ("Thinfilm") resolved on 28 May 2019 to grant a total of 1,500,000 incentive subscription rights ("SRs") to one new employee in Thinfilm. On the same date, the Annual General Meeting in Thinfilm resolved to grant a total of 12,000,000 SRs to two new board members of Thinfilm. The grants were made under Thinfilm`s 2019 Subscription Rights Incentive Plan as resolved at Thinfilm`s Annual General Meeting on 28 May 2019.
The exercise price of the SRs is NOK 0.15 per share. The vesting schedule for the SRs for the new employee is 33.3% one year from the Vesting Commencement date, 15 April 2019, and thereafter 33.3% and 33.4% respectively the two following years. The vesting schedule for the SRs for the two new board members is 50% on the earlier of 28 May 2020 and one day prior to the 2020 Annual General Meeting, and additionally 50% on the earlier of 28 May 2021 and one day prior to the 2021 Annual General Meeting. The SRs to both the new employee and new board members expire on 28 May 2024.
Following the grant there are 84,069,932 SRs outstanding in Thinfilm.
28 May 2019
Thin Film Electronics ASA
This information is subject of the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Thin Film Electronics ASA via GlobeNewswire
HUG#2245411
