Nexam Chemical employees subscribe for warrants in incentive program
06/27/2019
Management and employees of the Nexam Chemical Group has subscribed a total of 808,500 warrants in the incentive program which was resolved at the Annual General Meeting in May 2019.
At the Annual General Meeting of Nexam Chemical Holding AB (publ) (“Nexam Chemical”) on May 16, 2019, it was resolved to implement an incentive program in which a maximum of 1,040,000 warrants could be transferred to employees within the Nexam Chemical Group. A total of 808,500 warrants has been subscribed by fifteen employees whereof 200 000 warrants have been subscribed by CEO Johan Arvidsson. The remaining warrants will be reserved for allocation to future recruitments of new employees.
In accordance with the resolution of the Annual General Meeting, the subscription price upon exercise of the warrants has been set to 11.51 SEK per share. This corresponds to 150 percent of the volume weighted average price for the Company’s share, on Nasdaq Stockholm First North Premier, during the period 17th May – 31st May 2019. The price for the warrant has been calculated at market value according to the “Black Scholes” formula and amounts to 0.40 SEK per warrant. In case all outstanding warrants are exercised, the aggregate dilution will amount to approx. 1.5 percent. For full terms and conditions of the incentive program, please see the resolution (in Swedish) from the Annual General Meeting.
Note: This press release has been translated from Swedish. The Swedish text shall govern for all purposes and prevail in case of any discrepancy with the English version.
For further information please contact:
Johan Arvidsson, CEO, +46-708 97 44 39, johan.arvidsson@nexamchemical.com
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About Nexam Chemical
Nexam Chemical develops technology and products that make it possible to significantly improve the production process and properties of most types of plastics in a cost-effective manner and with retained production technology. The improved properties include strength, toughness, temperature and chemical resistance as well as service life. The improvements in properties that can be achieved by using Nexam Chemical’s technology make it possible to replace metals and other heavier or more expensive materials with plastics in a number of applications. In applications where plastic is already used, Nexam Chemicals products can improve the manufacturing process, reducing material use and enable more environmental friendly alternatives. Example of commercial applications: pipe manufacturing, foam production and high-performance plastics. More information about the business will be found on http://www.nexamchemical.com. The company´s Certified Adviser is FNCA Sweden AB. FNCA Sweden AB can be reached at info@fnca.se or by phone +46-8 528 00 399.