Grant of warrants
Company Announcement No. 14-2024
Copenhagen, 5 December 2024
Today, Impero’s Board of Directors has decided to exercise its current authorization in section 4.8 of the Articles of Association by issuing 258,000 new warrants to key employees in the Company. The warrants were granted to the company’s new CCO, a consultant and other key employees.
The exercise price is fixed at DKK 6.43 per share corresponding to the volume weighted average price (VWAP) of the Company’s shares as quoted on Nasdaq First North Denmark during the five (5) trading days preceding 5 December 2024. The warrants issued shall vest in two installments based on the Company’s achievement of an Annual Recurring Revenue (”ARR”) of DKK 42.2M and ARR of DKK 65.0M. If the AAR target figures are not reached, the warrants will lapse.
Warrants that have not been exercised 10 days after the publication of the Company’s Q3 report for 2029 will lapse automatically. Vested warrants can be exercised only within the ordinary trade windows stipulated from time to time in the Company’s internal rules governing the trading of the Company’s shares.
The warrants include conditions on accelerated vesting in case of change of control, e.g., takeover bid, merger, or delisting. The theoretical market value of one warrant granted is DKK 4.55 (calculated using the Black Scholes model). The key assumptions for the calculation are a share price of DKK 6.30 (as of December 4, 2024), an exercise price of DKK 6.43, volatility of 95.1%, and risk-free interest rate of 1.76%.
The Company’s Articles of Association will be updated following the grant of warrants.
“These warrants are issued to the new CCO, key employees and one consultant of Impero. The issuing of warrants by the Board of Directors is part of Impero’s ongoing incentive plans, and secures alignment with our shareholders’ interests”, says Rikke Stampe Skov, CEO of Impero.
For further information, please contact:
Impero
Rikke Stampe Skov, CEO
Mobile: (+45) 25 88 41 02
E-mail: rss@impero.com
or
Morten Lehmann Nielsen, CFO
Mobile: (+45) 51 17 67 80
E-mail: mln@impero.com
Certified Adviser
HC Andersen Capital
Pernille F. Andersen
Mobile: (+45) 30 93 18 87
E-mail: ca@hcandersencapital.dk
ABOUT IMPERO
Impero is a Danish Software-as-a-Service (SaaS) company that provides a compliance management platform. The Impero platform enables companies to easily manage compliance through automation of risk and control management, documentation, and reporting. Impero empowers companies to become more compliant in a scalable, digital, intuitive, and – most importantly – easy way.
For more information about Impero, please visit http://impero.com/investors