Grant of warrants to the Executive Board of IC Companys

Aug 21, 2014, 17:28

In connection with the Annual Report 2013/14 it was announced that the members of the Executive Board; Group CEO Mads Ryder and Group CFO Rud Pedersen had been granted warrants at a value corresponding to 19.7% of their fixed annual salary.

 

The final number of warrants granted is based on the IC Companys share’s closing price on 21 August 2014. Consequently, Mads Ryder has been granted 25,299 warrants and Rud Pedersen has been granted 12,649 warrants corresponding to a total capital increase of DKK 379,480 in nominal value.

 

The warrants will be issued at an exercise price of DKK 182 corresponding to the Company’s closing price of the share at NASDAQ OMX Copenhagen on 21 August 2014.

 

Furthermore, the calculation has been based on a volatility rate of 34.3% and a risk-free interest rate of 0.36% by use of the Black & Scholes model.

 

Calculation of the applied volatility rate is based on the average daily closing price during the last three financial years. The price calculation period corresponds to the minimum time frame of the granted warrant programme.

 

Based on previous experiences, the time of exercise is expected to occur in the middle of the exercise period, and consequently a duration period of 4 years is applied in the calculation.

 

For further description of terms and conditions for grant and exercise of the warrants, we refer to the Annual Report 2013/14.

 

 

IC Companys A/S

 

 

Rud T. Pedersen

Group CFO

 

 

 

 

Please direct any questions regarding this announcement to:

 

Jens Bak-Holder

IR Manager

Phone: +45 3266 7093