
Renewal of warrant program to key persons
5January2023
Renewal of warrant program to key persons
The board of directors decided to utilize ist autorization to issue warrants to key persons with the purpose of retain and motivate to perform beyond expectations.
The board of directors has passed a resolution to partially exercise its right to issue warrants under Article 5.3 in the Articles of Association in the Company. The original programme from 2015 has expired and none of the warrants issued was exercised during the programme.
Agenda, recipients, exerciseprice and exerciseperiod
In total, 540.000 warrants have been issued over the coming 3 year timeperiod starting 1st january 2023, to the chairman of the board of directors, the CEO and two other key employees which the management find exceptionally important for the successful execution of the Company's strategy. One key employee is also member of the board of directors. Furthermore, a total of 60.000 warrants over the coming 3 year timeperiod have been issued to other key employees in the Company.
The persons are:
Board of Director, chairman | Mette Therkildsen |
CEO | Michael Humle |
COO | Henrik R. Bartholdy |
CBO | Jesper Elsgaard |
CTO | Henrik Jensen |
Founder | Theis Reenberg |
Scientist | Simon L. Østergaard |
Each warrant entitles its holder to subscribe for one share in Photocat A/S of nominally DKK 1 at a price of SEK 9 (exercise price), calculated according to Black Scholes principles.
The employees can exercise the issued warrants three years from grant and at the latest six years from grant, i.e. primo 2023 and ultimo 2028 (exercise period) after which unexercised warrants no longer apply.
The exercise is contingent on the continued employment in the Company and the warrants are therefore to be revoked without compensation in the event of resignation or misconduct. In the event of the employee being resigned by the Company, without this being due to employee misconduct, the employee retains the right to exercise its warrants in the exercise period.
Marketvalue
The exercise price has by the Company board of directors been set to SEK 9 for each share in Photocat A/S of nominally DKK 1.
The theoretical market value after correction for dilution of the issued warrants is estimated at SEK 964.925 at the time of issue, according to the Company's closing share price on Nasdaq First North Stockholm 3 January 2023, a dividend policy of SEK 0 per share per year, an expected future volatility of 9.1 % and a risk-free rate of 1.75 % per annum, through the use of the Black-Scholes model.
Registration
The board of directors will register the changes to the Company's articles of association to the Danish Business Authority.
Photocat A/S
The Board of Directors
For More Information, Please Contact:
Michael Humle, CEO Photocat A/S
Tel: +45 2210 2523
e-mail: michael@photocat.net
The information was submitted for publication, through the Agency of the contact person set out below at 16.00 on January 5, 2023.
About Photocat
Photocat manufactures patented coating materials for both outdoor and indoor applications with the effect to degrade NOx and VOC´s when exposed to light. Both NOx and VOC’s are severely damaging to human health. Photocat’s patented technology is a very efficient and an economically viable alternative to many of the traditional technologies targeting NOx (e.g. bus catalysts, flue gas cleaning etc.). Photocat’s shares are listed on Nasdaq Stockholm, First North with the ticker symbol PCAT. The company’s Certified Advisor is Mangold Fondkommission AB.
Attachment
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.
About GlobeNewswire by notified
GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Golar LNG Limited - Announcement of filing of Form 20-F Annual Report1.4.2023 00:36:57 CEST | Press release
Golar LNG Limited announces that it has filed its Form 20-F for the year ended December 31, 2022 with the Securities and Exchange Commission in the U.S. Form 20-F can be downloaded from the link below, is available on our website (www.golarlng.com) and shareholders may receive a hard copy free of charge upon request. March 31, 2023 The Board of Directors Hamilton, Bermuda Enquiries: Golar Management Limited: + 44 207 063 7900 Stuart Buchanan This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act Attachment GLNG 2022 Annual Report Form 20-F
Tenaris Files 2022 Annual Report / Annual Report on Form 20-F, and 2022 Sustainability Report, and Convenes Annual General Meeting of Shareholders31.3.2023 23:47:41 CEST | Press release
LUXEMBOURG, March 31, 2023 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) filed today its 2022 Annual Report / Annual Report on Form 20-F, and its 2022 Sustainability Report with the Luxembourg Stock Exchange, with the U.S. Securities and Exchange Commission (SEC), and with the other securities regulators of the markets where its securities are listed. These reports (which contain the financial and non-financial information required by applicable Luxembourg law for the year ended December 31, 2022, including Tenaris’s consolidated financial statements as of and for the year ended December 31, 2022, Tenaris’s annual accounts as at December 31, 2022, and their related external auditors’ reports and consolidated management report and certifications) may be downloaded from the Luxembourg Stock Exchange’s website at www.bourse.lu/regulated-information-oam, from the SEC’s website at www.sec.gov, and are available on Tenaris’s website at ir.tenaris.com. Holders of T
BALTIC HORIZON FUND CONSOLIDATED AUDITED RESULTS FOR 202231.3.2023 23:10:00 CEST | Press release
Management Board of Northern Horizon Capital AS has approved the audited financial results of Baltic Horizon Fund (the Fund) for the year 2022. The financial results remained unchanged compared to the preliminary disclosure on 15 February 2023. Net result and net rental income In 2022, the Group recorded a net profit of EUR 3.9 million against EUR 1.4 million for 2021. The net result was mainly driven by strong recovery of the Galerija Centrs operating performance as fewer COVID-19 rent reliefs were granted to tenants in 2022 and increased rent indexation. The net result in 2021 was significantly impacted by the one-off negative valuation result of EUR 7.1 million. In 2022, the valuation resulted in a net fair value loss of EUR 2.9 million (-1.8% of portfolio value). The positive impact of the increase in net rental income was partly offset by non-recovered property costs. Earnings per unit for 2022 were EUR 0.03 (2021: EUR 0.07). In 2022, the Group earned net rental income of EUR 17.4
Magna Posts 2022 Annual Report31.3.2023 22:43:18 CEST | Press release
AURORA, Ontario, March 31, 2023 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today announced that its 2022 Annual Report, including Management’s Discussion and Analysis and Audited Consolidated Financial Statements, Annual Information Form (AIF) and Form 40-F, are now available on the company’s website, www.magna.com. Magna has also filed these documents with the Canadian Securities Administrators (accessible through its website at www.sedar.com) and the U.S. Securities and Exchange Commission (accessible through its website at www.sec.gov/edgar). Our 2023 Annual Meeting of Shareholders will be held on Thursday, May 11, 2023, commencing at 10:00 a.m. (Eastern Daylight Time). The meeting is being conducted as a virtual-only meeting accessible at www.virtualshareholdermeeting.com/MGA2023. Magna will provide a hard copy of its audited financial statements as contained in our 2022 Annual Report to Shareholders, free of charge, on request through our website or in writi
SFL - Sale of suexmax and chemical tankers31.3.2023 22:37:14 CEST | Press release
SFL Corporation Ltd. (NYSE: SFL) (“SFL” or the "Company") announces that it has agreed to sell the two 2008-built chemical tankers SFL Weser and SFL Elbe to an unrelated third party. The sales proceeds to SFL are approximately $19.5 million for the debt free vessels. Both vessels have been employed in the spot market the last two years and delivery of the vessels to the buyer is expected to take place in the second quarter. A book impairment of approximately $7 million is expected to be recorded in the first quarter relating to the sales. The 2009-built suezmax tanker Glorycrown, which was announced sold in February, has been delivered to its new owner in March. The final sales price of approximately $43.5 million is higher than previously disclosed, and a book gain of approximately $9 million is expected to be recorded in the first quarter relating to the sale. Divesting of older vessels is part of SFL’s strategy to continuously renew and diversify its fleet, and the net cash proceeds