Grant of warrants
Company Announcement no. 28-2023
Today, the board of directors has exercised part of its current authorisation to issue a total of 186,000 warrants to the Company’s CFO and a key employee.
The warrants are an essential part of securing long-term incentive for management in Donkey Republic to drive the ambitious growth plan and to ensure long-term value for all Donkey stakeholders.
The CFO Christian Dufft has been granted 100,000 warrants and 86,000 warrants were granted to a key employee.
Each warrant entitles the holder to subscribe for one share of nominally DKK 0.10 in Donkey Republic Holding A/S at the strike price of DKK 8.80.
The total theoretical market value of the 186,000 warrants amounts to DKK 263,333.
The theoretical market value of one warrant is calculated using the Black Scholes model. The key assumptions for the calculation are a share price of DKK 5.15 as of 8 December 2023, a diluted share price of DKK 5.14, volatility of 52.33%, and a risk-free interest rate of 2.40%.
The warrants include conditions on accelerated vesting in case of an exit event, e.g. a takeover, merger or sale of assets. Vested warrants can be exercised in periods of four weeks starting the day after the publication of the Company's annual report and half-year report, respectively and in case of an exit event. Warrants shall mature on 31 December 2027. Warrants that have not been exercised at maturity will lapse automatically.
The warrants are issued in accordance with article 4.2 of the Articles of Association in which the board of directors is authorized to issue up to a total of 2,400,000 warrants to board members, management and employees. The remaining authorization is 195,991 warrants.
CONTACT INFORMATION
DonkeyRepublic Holding A/S
Skelbækgade 4, trappe B, 4. sal.
1717 København V
www.invest.donkey.bike
Niels Henrik Rasmussen, CEO
investor@donkeyrepublic.com
Certified Adviser
Grant Thornton Denmark,
Direct (+45) 35 27 50 11
Subscribe to the company announcements at:
https://invest.donkey.bike/donkey-republic-company-news
About Donkey Republic
Founded in 2014, Donkey Republic is a Danish purpose driven impact company active in the micro mobility industry. Donkey Republic provides a flexible, affordable and more sustainable way of transportation to the citizens by partnering with the cities.
Donkey Republic is a data driven technology company facilitating bike sharing, and we are able to provide cities and citizens a reliable bike sharing service. Sustainably at its core integrates with the city’s public transportation system, by pursuing innovation Donkey Republic develops end-to-end products and services that solve city and riders problems. Riders are able to enjoy a more convenient and high quality ride, with our bike and ebike fleet, designed for durability and optimal maintenance through our servicing software platform. This collaborative dedicated software solution together with our bikes, seeks to improve people's health & well-being, the environment, reducing traffic congestion across cities as well as public space optimisation.
Donkey Republic is a publicly traded company listed on the Nasdaq First North Growth Market. The company was listed in 2021 to onboard investors and support its growth and expansion into the European Market, and to continue securing its foothold and developing its market position in the European Micro mobility space. With thousands of Donkey bikes successfully implemented, Donkey Republic aims to grow its business and fulfill its vision of making urban city life quality better through responsible bike sharing