Continuation of incentive programme
Schouw & Co. has for a number of years operated a share-based incentive programme for the purpose of promoting value creation in Schouw & Co. by aligning the interests of the individuals comprised by the programme and the company's shareholders.
Under the programme, the Board of Directors has resolved to award 467,000 share options on the following terms:
The members of the Management Board of Schouw & Co., President Jens Bjerg Sørensen and Vice President Peter Kjær, will be granted 50,000 and 20,000 share options, respectively. Other senior executives, including managers of subsidiaries, comprising 31 persons, will be granted a total of 397,000 share options.
The options are exercisable during a period of 13 months following the publication of the Schouw & Co. Group's Annual Report for the 2025 financial year.
Each share option entitles the holder to purchase one Schouw & Co. share of DKK 10 nominal value. The exercise price is equal to the average official closing share price during the first five business days after the publication of the Schouw & Co. Group’s Interim Report for the first quarter of 2023 (of DKK 567.60), plus a premium of 2% p.a. with effect from 12 May 2023. The exercise price is adjusted less ordinary dividends, which, however, cannot exceed the accrued premium.
The new options have an aggregate theoretical market value of DKK 45.1 million, calculated on the basis of the Black & Scholes model using 12-month historical volatility based on daily average prices (25.028%) and a risk-free interest rate (2.66% p.a.).
Aktieselskabet Schouw & Co.
Jørgen Dencker Wisborg, chairman
Jens Bjerg Sørensen, president
Questions to the above should be directed to Jens Bjerg Sørensen, president, on tel. +45 8611 2222.
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