Axolot Solutions employees subscribe for warrants in incentive program
Management and employees within Axolot Solutions have subscribed a total of 722 925 warrants in the incentive program which was resolved at the Annual General Meeting in May 2019.
At the Annual General Meeting of Axolot Solutions Holding AB (publ) (”Axolot Solutions”) on May 15, 2019, it was resolved to implement an incentive program in which a maximum of 1,060,000 warrants could be transferred to employees within the Axolot Solutions Group. A total of 722 925 warrants have been subscribed by eight (8) key persons whereof 353 000 warrants have been subscribed by CEO Marie Landfors. The remaining 337 075 warrants will be reserved for allocation to future recruitments of new employees.
In accordance with the resolution of the Annual General Meeting, the subscription price upon exercise of he warrants has been set to 6,39 SEK per share. This corresponds to 150 percent of the volume weighted average price for the Company’s share, on Nasdaq Stockholm First North, during the period May 13 – May 26, 2019. The price for the warrant has been calculated at market value according to the ”Black & Scholes” formula and amounts to 0,38 SEK per warrant. In case all outstanding warrants are exercised,the aggregate dilution will amount to approximately 3,4 percent. For full terms and conditions of the incentive program, please see the resolution (in Swedish) from the Annual General Meeting.
Note: This press release has been translated from Swedish. The Swedish text shall govern for all purposes and prevail in case of any discrepancy with the English version.
For further information, please contact:
Lennart Holm, Chairman of the Board of Directors, +46 (0)70 630 8562, firstname.lastname@example.org
About Axolot Solutions
Axolot Solutions is a Swedish environmental technology company, providing systems for industrial water purification. The company offers a holistic solution based upon a proprietary technology within electro-coagulation and flotation. Axolot's water purification concept is cost efficient and enables recirculation of the water. This leads to a reduced environmental footprint.
More information about the Company and its business activities can be found at www.axolotsolutions.com.
Axolot Solutions Holding AB is based in Helsingborg, Sweden, and its shares (ticker: Axolot) are listed at Nasdaq First North, Stockholm, since November 21, 2018. FNCA Sweden AB is the Certified Adviser of Axolot Solutions. FNCA Sweden AB can be reached at email@example.com and on tel +46 8 528 003 99.