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 October 8, 2013, April 23, 2014, August 12, 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 36.50, NOK 40.10, NOK 33.90, NOK 10.60, NOK 19.50, and NOK 76.25 per share respectively.
The Company has now received exercise notices from warrant holders aggregating 149,605 warrants distributed as follows:
|Warrants issued on October 8, 2013||86,177|
|Warrants issued on April 23, 2014||11,000|
|Warrants issued on August 12, 2014||6,408|
|Warrants issued on August 11, 2015||19,988|
|Warrants issued on April 28, 2016||21,632|
|Warrants issued on April 25, 2017||4,400|
In respect of 450 exercised warrants issued on October 8, 2013, 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 149,155 exercised warrants will subscribe for the corresponding 149,155 shares of each nominally DKK 0.10 in the Company and the Company has received the following corresponding subscription price:
|Warrants issued on October 8, 2013||85,757||NOK 3,129,035.50|
|Warrants issued on April 23, 2014||11,000||NOK 441,100.00|
|Warrants issued on August 12, 2014||6,408||NOK 217,231.20|
|Warrants issued on August 11, 2015||19,988||NOK 211,872.80|
|Warrants issued on April 28, 2016||21,632||NOK 421,824.50|
|Warrants issued on April 25, 2017||4,400||NOK 335,500.00|
|In total||149,155||NOK 4,756,563.50|
Consequently, the share capital increase resulting from the exercise of the warrants (from nominally DKK 2,621,488.90 by nominally DKK 14,915.50 to nominally DKK 2,636,404.40) 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