LED iBond International A/S Grant of Warrants
The Board of Directors in LED iBond International A/S has today exercised its authority to issue 30,000 warrants to the management and employees in LED iBond A/S.
The warrants are issued in accordance with section 3.3 of the articles of association. The program incentivises the management and employees and is a key element to retain and attract critical competencies.
Terms and conditions of the share-based incentive program for management and employees:
- Grant of 30,000 warrants
- Each granted warrant gives a right, but not an obligation, to acquire 20 shares of nominally DKK 0.05 in the company corresponding to in total 600,000 shares
- The exercise price of each warrant is DKK 1.20 per share of DKK 0.05
- The warrants vest immediately on the 31 December 2022
- The warrants can be exercised ordinarily in the period 1 January 2025 to 31 December 2027
- The company’s liquidity is unchanged
- The warrants include conditions on accelerated right to exercise warrants in case of an exit, e.g. delisting, a takeover or merger
- Provided that all warrants granted are exercised, the dilution effect is 2.3%.
The terms and conditions of the warrants are set out in the articles of association, which are an integral part of the company’s articles of association, which can be found on the company’s website.