Kitron: KIT – Issue of shares under share incentive program
August 30 2022 - 1:29PM
Kitron: KIT – Issue of shares under share incentive program
(2022-08-30) Reference is made to Kitron ASA's previous
disclosures regarding its share incentive program. Kitron has
received exercise notices from the participants in the share
incentive program and Kitron's board of directors has consequently
resolved to issue 676 664 new shares. The shares are issued to the
option holders at a strike price of NOK 0.10 per share pursuant to
the board authorisation resolved in Kitron's general meeting held
27 April 2022.
In addition, Kitron has decided to convert 493 336 exercised
options under the share incentive program against cash
consideration. The cash consideration will be utilised to cover the
tax cost for the option holders which will be subject to advance
tax deduction by Kitron after exercise of the options. The
conversion of options is made at NOK 19.90 which is equal to the
closing price on Oslo Børs on 30 August 2022 less the strike price
of NOK 0.10 per share.
The following primary insiders a have exercised options and
subscribed for shares in the share capital increase:
|
Number of shares subscribed for |
Number of options converted against cash consideration |
Peter Nilsson, CEO and President |
183 920 |
166 080 |
Cathrin Nylander, CFO |
79 622 |
70 378 |
Kristoffer Asklöv, COO |
50 000 |
0 |
Hans Petter Thomassen, Managing Director Kitron Norway & VP
North America |
82 602 |
67 398 |
Mindaugas Sestokas, Managing Director Kitron Lithuania & VP
Central Eastern Europe |
102 000 |
48 000 |
Stefan Hansson Mutas, Managing Director Kitron Sweden |
76 020 |
73 980 |
Zygimantas Dirse, Managing Director Kitron China |
82 500 |
67 500 |
Primary insider notifications pursuant to the market abuse
regulation article 19 are attached.
Kitron has furthermore resolved to exercise a right under the
share incentive program to implement trading restrictions on the
shares issued under the abovementioned share capital increase. All
shares issued will be subject to trading restrictions with a
duration of three years; however, so that the last two years, one
eighth of the total number of new shares will vest and become
tradable each quarter.
For further information, please contact:Cathrin Nylander, CFO,
tel.: +47 900 43 284E-mail: investorrelations@kitron.com
Kitron is a leading Scandinavian electronics manufacturing
services company for the Connectivity, Electrification, Industry,
Medical devices and Defence/Aerospace sectors. The group is located
in Norway, Sweden, Denmark, Lithuania, Germany, Poland, the Czech
Republic, China and the United States. Included the acquisition of
BB Electronics in January 2022, Kitron has about 2 800 employees,
and pro forma revenues were about NOK 5 billion in 2021.
www.kitron.com
This information is made public by the Company pursuant to the
EU Market Abuse Regulation article 5, as supplemented by Commission
Delegated Regulation (EU) 2016/1052, and is subject to the
disclosure requirements pursuant to Section 5-12 the Norwegian
Securities Trading Act.
- Kitron KRT 1500 Options 2022
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