Subscription Rights Grant
On 7 November 2016, the Board of Directors of Cxense ASA (the “Company”) resolved to issue 272,500 subscription rights ("SRs") to employees in the Company. The grant is subject to the employees accepting that share options and SRs issued prior to this issue are deleted, in total 113,325 SRs and 9,200 share options.
The grant was made under the Company's 2017 incentive subscription rights plan, as adopted by the Company’s annual general meeting on 10 May 2017. The exercise price of the SRs is NOK 39.23 per share. The issued SRs vest over 4 years by 25 % on each anniversary from the date of the grant. The SRs expire on 10 May 2022.
Following the grant there will be a total of 476,825 subscription rights and share options outstanding. As of today, the Company has 8,958,012 shares outstanding.
100,850 of the total amount of outstanding SRs are held by employees that have been terminated as part of the restructuring announced 24 August 2017 and will expire 90 days following termination of their employment relationship.
7 November 2016
Investor Relations Contact
Jørgen M. Loeng
Chief Financial Officer
Mobile: +47 906 60 062
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.