Global Stock Option Program Biotage Employees
The board of directors has, in accordance with an authorization from the annual shareholders meeting held on April 27, 2006, adopted a global stock option program for employees within the Biotage group - Biotage AB Global Share Option Plan 2006.
The board of directors has further, in accordance with an authorization from the above mentioned shareholders meeting, resolved to allot 597 500 employee stock options under the option program, of which members of the group management receive a maximum of 30 000 stock options each, members of the senior management receive a maximum of 10 000 stock options each, members of junior management and other key employees receive a maximum of 5 000 stock options each and other employees receive a maximum of 3 000 stock options each. The CEO and President of the company has been allotted 55 000 stock options.
Each stock option entitles the holder to acquire one ordinary share in Biotage at an exercise price of SEK 16.64. The stock options have an exercise period of 7 years and can be exercised after one year until three years following the date of allotment with one third of the number of allotted options for each one year period. The stock options require, in principal, that the holder is an employee of the group at the time of exercise.
In order to cover Biotages commitments in relation to the employee stock options allotted under the program, the board of directors has also resolved to issue a maximum of 700 000 warrants to subscribe for new shares. The issue is based on the authorization from the annual shareholders meeting held on April 27, 2006. The warrants entitle to subscription of a maximum of 700 000 ordinary shares in the company. Each warrant has an exercise period of 7 years and entitles the holder to subscribe to one ordinary share in Biotage at an exercise price of SEK 16.64. A bank appointed by the board or directors has right to subscribe for the warrants.
Torben Jørgensen, President and CEO
Tel: +46 70 749 05 84, email@example.com
Torben Jørgensen, VD och koncernchef
Tel: 018 56 59 00
Mob: 070 749 05 84, firstname.lastname@example.org