BHG Group announces outcome of subscription under incentive programme 2020/2023
2 SEPTEMBER 2020, 5:30 p.m. CEST
BHG Group AB (Publ) announces today the outcome of the subscription of warrants under the incentive programme approved by the company’s Annual General Meeting (AGM) on 5 May 2020. The programme invited certain senior executives, key individuals and employees in the Group to subscribe for warrants that will entitle the holder to purchase shares at a pre-determined price after a period of three years. A total of 1,037,000 warrants were subscribed for (94 percent of the programme), corresponding to a dilution effect of 0.94 percent if all of the warrants are exercised.Each warrant entitles the holder to subscribe for one (1) share in the company during the exercise period at a subscription price of SEK 145, corresponding to 130 percent of the volume-weighted average price quoted during the period from 24 August 2020 to 28 August 2020. The exercise period for the subscription of shares extends from 1 June 2023 to 31 August 2023.
Participants in LTIP 2020/2023 receive a subsidy from the company corresponding to 50 percent of the fair value of the options on the subscription date. An amount corresponding to the subsidy is therefore recognised as share-based payment according to IFRS 2. The cost for the company amounts to SEK 17 million.
For more information, please contact:
Johan Hähnel, Head of Investor Relations
Tel: +46 (0)70 605 63 34. E-mail: firstname.lastname@example.org
The information was submitted for publication, through the agency of the contact person set out above, at 5:30 p.m. CEST on 2 September 2020.
BHG is the number 1 consumer e-commerce company in the Nordics. We’re also present in most of Eastern and Central Europe. Our strong position in these markets makes us the largest European pure-play within the Home Improvement space, meaning Do-It-Yourself and Home furnishings. With an ecosystem of online stores, supported by physical destinations and services, such as last-mile deliveries and installation, we offer the market’s leading range of well-known external and strong own brands, totalling over 800,000 unique products and encompassing a complete offering within DIY, leisure, furniture and furnishings.
The Group includes over 85 online sites — including sites like www.bygghemma.se www.trademax.se www.chilli.se and www.furniturebox.se — and over 70 showrooms. We are headquartered in Malmö, Sweden, with operations throughout Europe. Our share is traded on Nasdaq Stockholm, under the ticker “BHG.”
The BHG brands employ more than 1,500 people, working every day to create the ultimate online shopping experience by combining an unbeatable product range with smart technology, leading product expertise and a broad range of services.