The Nomination Committee in Aerocrine proposes Board member share program
The Nomination Committee in Aerocrine AB (NASDAQ OMX Stockholm: AERO) proposes that the shareholders at the Annual General Meeting (AGM) on 3 May 2012 resolves to adopt a Board member share plan (“SAP 2012”) for Board members who are independent in relation to Aerocrine and its executive management as well as the company’s major shareholders (applies to four of the Board members proposed for re-election at the AGM). Part of the Board remuneration, SAP 2012 includes so-called Board shares (options to acquire shares in Aerocrine) (“Board Shares”) and hedging measures created through the issuance and approval of transfer of warrants.
The purpose of the proposed plan is to enable Aerocrine to attract, motivate and retain Board members, to increase the Board members’ interest in Aerocrine and its financial development and to offer them a financial interest in Aerocrine comparable to the one of shareholders. In brief, the Nomination Committee proposes that, in addition to the cash Board fee that the 2012 AGM resolves upon, each Board member who participates in SAP 2012 shall receive remuneration through the grant of a number of Board Shares that in value correspond to SEK 75,000. In addition, each participant may elect to receive up to SEK 75,000 of the cash Board fee that the 2012 AGM resolves upon in the form of a number additional Board Shares that in value correspond to the amount thus selected by the participant.
In order to enable the delivery of shares and otherwise safeguard the fulfillment of Aerocrine’s obligations under SAP 2012, the Nomination Committee proposes that the AGM resolves to issue not more than 67,000 warrants to the wholly-owned subsidiary Aerocrine ESOP AB and approves that the warrants may be disposed of to safeguard the fulfillment of Aerocrine’s obligations under SAP 2012.
A more detailed description of the Nomination Committee’s proposal together with other information is included in the notice of the AGM.
For more information, contact:
Ulrik Spork, the Nomination Committee in Aerocrine AB, telephone +45 3067 4794
Michael Colérus, CFO Aerocrine AB, telephone +46 70 341 34 72
About Aerocrine
Aerocrine AB is a medical technology company focused on the improved management and care of patients with inflammatory airway diseases. As the pioneer and leader in the technology to monitor and manage airway inflammation, Aerocrine markets NIOX® Flex and NIOX MINO®. Both products enable fast and reliable management of airway inflammation and may therefore play a critical role in more effective diagnosis, treatment and follow-up of patients with inflammatory airway diseases such as asthma. Aerocrine is based in Sweden with subsidiaries in the US, Germany and the UK. Aerocrine shares were listed on the Stockholm Stock Exchange on 15 June 2007. Aerocrine discloses the information provided herein pursuant to the Securities Markets Act. The information was submitted for publication at 08:01 a.m. on April 3, 2012.