GreenMobility issues warrants

Company Announcement no. 121– 2023
Copenhagen, March23^rd, 2023

GreenMobility issues warrants

The Board of Directors of GreenMobility A/S S (“GreenMobility” or the “Company”), has today resolved to grant warrants in the Company for the purpose of:

• Ensuring that shareholders, the Executive Management and other management employees of the Company have the same interests, and that everyone makes a special effort for the value creation in the Company and its subsidiaries.
• Retaining the Executive Management and management employees of the Company.
• Granting warrants to the Board of Directors as authorized at the 2021 Annual General Meeting but not yet granted
  
  

Warrants granted will generally be subject to the existing warrant programs as publicized in company announcement no. 41 on November 19^th, 2019 and in company announcement no. 64 on September 29^th 2020 with certain deviations. The total issuance of warrants is in accordance with the resolutions passed at the Annual General Meetings held on April 22^nd, 2021 and on April 21^st, 2022.

Part of the warrants are granted to members of the Board of Directors which served as members of the Board of Directors in 2021, as authorized at the Annual General Meeting held on April 22^nd 2021. Accordingly, 12,000 warrants will be granted to members of the Board of Directors (assuming all warrants are subscribed), which gives the right to a subscription of nominally DKK 4,800 shares in the Company at a nominal value of DKK 0.40 per share, corresponding to 0.27% of the Company’s total outstanding share capital. The exercise price will be set as the average closing price of the Company’s shares in the period of February 21^st, 2023 to March 21^st, 2023. The warrants are granted fully vested. This is a one-time grant and no on-going granting of warrants for members of the Board of Directors is planned.

Warrants granted to the Company's Executive Management and management employees in the Company are part of the Company’s ongoing long-term incentive program with a total of 100,000 warrants granted (assuming all warrants are subscribed). The 100,000 warrants give the right to subscribe for nominally DKK 40,000 shares in the Company at a nominal value of DKK 0.40 per share, corresponding to 2.25% of the Company’s total outstanding share capital. The exercise price will be set as the average closing price of the Company’s shares in the period of February 21^st, 2023 to March 21^st, 2023. These warrants are granted as a one-time grant, and vesting is subject to the terms and conditions set by the Board of Directors where warrants vest with 1/36 per month as from the date of employment, however, no earlier than from 1 January 2021. Warrants can be exercised at an exercise price of DKK 58.06 in the period from vesting and up to 5 years after granting, in four annual exercise windows.

The theoretical market value of one warrant granted is DKK 25.53 (calculated using the Black Scholes model). The key assumptions for the Black Scholes calculation are a Company share price of DKK 59.60, warrant exercise price of DKK 58.06, volatility of 50%, and an interest rate of 3%.

The warrants granted now can be subscribed for in the period March 24^th, 2023 – March 30^th, 2023 (both days inclusive). Warrant subscribers do not have to pay compensation for the warrants.

If all warrants are subscribed for, the Board of Directors will issue 112,000 warrants in total in accordance with the authorization to issue warrants in Article 4.1 in the Company's Articles of Association, corresponding to an increase in the Company's share capital of up to a nominal amount of DKK 44,800.00. Assuming subscription of all 112,000 warrants, the authorization in the Articles of Association has been fully used, except for any reissuance of warrants.

Contact and further information

Anders Wall, Group CFO, +45 25 40 30 20, e-mail: aw@greenmobility.com

About GreenMobility
GreenMobility offers modern urbanites easy, flexible, and sustainable transport in the form of electric shared city cars. Users have access to these cars via the GreenMobility app. Trips are paid per minute, through minute packages, on a daily basis or through a subscription. Today, GreenMobility operates a total of 1,600 EVs in Copenhagen, Aarhus, Antwerp, Gent, Brussels, Helsinki, Amsterdam. More than 200,000 people are registered as customers at GreenMobility.

Driven by global megatrends, GreenMobility sees a rapidly growing market for carsharing in large cities that demand green transport for their citizens and aim to reduce the number of private cars. GreenMobility’s ambition is to be among the leading global operators of green shared mobility solutions. GreenMobility is publicly listed for trading on the Nasdaq Main Market Copenhagen in Denmark.

Attachment

• GreenMobility issues warrants

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.