10 March 2021 - Vice chairman of the Board of Directors and primary insider of Asetek A/S, Chris Christopher has exercised 11,000 warrants issued on April 23, 2014 with a subscription price of NOK 40.10 per share paid in cash. Following the transaction, Chris Christopher owns 88,422 Asetek shares and 34,811 warrants.
CFO and primary insider of Asetek A/S, Peter Dam Madsen has exercised 10 313 warrants issued on April 23, 2014 with a subscription price of NOK 40.10 per share paid in cash. Following the transaction, Peter Dam Madsen owns 106,719 Asetek shares and 275,252 options and warrants.
COO and primary insider of Asetek A/S, John Hamill has exercised 8 621 warrants issued on April 23, 2014 with a subscription price of NOK 40.10 per share paid in cash. Following the transaction, John Hamill owns 110,521 Asetek shares and 335,222 options and warrants.
Further reference is made to warrants issued by Asetek A/S, Danish central business register (CVR) no. 34880522 (the "Company"), pursuant to corporate resolutions adopted on April 23, 2014, August 11, 2015, April 28, 2016, and April 25, 2017 respectively.
Pursuant to the applicable warrant terms, the warrants are exercisable in exercise windows open in a four weeks period running from the Company's preliminary announcement of its financial statements or publication of its interim financial report however no later than 7 years after the Subscription Date as specified in the Subscription Agreement, at 12 noon.
Each warrant gives the holder the right but not the obligation, to subscribe for one share in the Company of a nominal value of DKK 0.1 at NOK 40.10, NOK 10.60, NOK 19.50, and NOK 76.25 per share respectively.
The Company has now received exercise notices from warrant holders aggregating 70,594 warrants distributed as follows:
|Warrants issued on April 23, 2014||31,790|
|Warrants issued on August 11, 2015||17,910|
|Warrants issued on April 28, 2016||13,037|
|Warrants issued on April 25, 2017||7,857|
In respect of 1,054 exercised warrants issued on April 25, 2017, the Board of Directors has, in accordance with the applicable warrant terms, decided to pay the warrant holders a cash amount (cash settlement) corresponding to the amount by which the market price of the shares in the Company exceeds the subscription price, instead of delivering the shares corresponding to the warrants.
The holders of the remaining 69,540 exercised warrants will subscribe for the corresponding 69,540 shares of each nominally DKK 0.10 in the Company and the Company has received the following corresponding subscription price:
|Warrants issued on April 23, 2014||31,790||NOK 1,274,779.00|
|Warrants issued on August 11, 2015||17,910||NOK 189,946.00|
|Warrants issued on April 28, 2016||13,037||NOK 254,221.50|
|Warrants issued on April 25, 2017||6,803||NOK 518,728.80|
|In total||69,540||NOK 2,237,575.25|
Consequently, the share capital increase resulting from the exercise of the warrants (from nominally DKK 2,678,096.00 by nominally DKK 6,954.00 to nominally DKK 2,685,050.00) will now be registered and the newly issued shares will be divided between the warrant holders having issued an exercise notice in accordance with the above.
The shareholders’ register kept by the Norwegian central securities depository Verdipapirsentralen ASA and DNB Bank ASA respectively, the warrants’ register and the articles of association of the Company will be updated accordingly.
Peter Dam Madsen
Chief Financial Officer
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. This stock exchange release was published by Peter Dam Madsen, CFO at Asetek A/S, on March 10, 2021 at 13:40 CET.