Option program II 2014/2017 for employees (group management)
As Arise AB (“Arise”) previously has announced, the company has offered its employees (group management not included) a three-year option program with synthetic options. Arise has now decided to offer the group management to participate in a three-year option program with a maximum of in total 140,000 synthetic options. The option program for the group management is on substantially same terms and conditions as the option program for the other employees, but is subject to approval by the shareholders' meeting in May 2014.
Each option entitles the holder to, on 10 January 2017, receive a cash payment from Arise corresponding to the difference between the market value of a share in Arise at the time of exercise of the option and the prematurely determined value of SEK 25. The difference cannot exceed an amount of SEK 40 per option (ceiling). The total cost for the program is estimated to amount to a maximum of approximately MSEK 5.6, based on the maximum payment of SEK 40 per option.
The value of SEK 25 corresponds to 125 percent of the shares of the Company on the Nasdaq OMX Stockholm traded volume weighted average closing price during the period from 16 December 2013 to 3 January 2014.The premium amounts to 3.04 per option and it corresponds to the option's market value calculated in accordance with Black & Scholes and conventional assumptions.
Notification for participation shall be made no later than on 18 February, 2014. In case of oversubscription, allocation is primarily made pro rata in proportion to the number of options comprised by the application and thereafter by drawing of lots.
Since the options in the program are synthetic and no shares are issued, the program does not lead to any dilution.
Halmstad 27 January, 2014
ARISE AB (publ)
For further information, please contact
Peter Nygren, CEO Arise AB, +46 706 300 680
Leif Jansson, head of IR Arise AB, + 46 707 340 554
The information contained herein constitutes information which Arise AB is legally required to publish under the Swedish Securities Market Act (SFS 2007:528) and/or the Swedish Financial Instruments Trading Act. The information was released for publication at 5:20 p.m. on 27 January, 2014.
About Arise
Arise is one of Sweden's leading companies in onshore wind power. Its business concept is to sell electricity generated at the company's own wind turbines. The company's target is to have 1,000 MW of onshore wind power constructed and under management by 2017, of which 500 MW will remain in the ownership of the company. Arise is listed on NASDAQ OMX Stockholm.
Arise AB (publ), P.O. Box 808, SE-301 18 Halmstad, Sweden, telephone +46 (0)35 20 20 900, corporate id .no. 556274-6726
E-mail: info@arise.se, www.arise.se
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