Magnolia Bostad allots warrants within existing warrant program
In 2019, Magnolia Bostad issued warrants to be offered to both future and current employees. Through the subsidiary Magnolia Utveckling AB, Magnolia Bostad holds a total of 30,000 warrants in the program from 2019, which will now be sold to Johan Tengelin, who will take over as CEO no later than December 2020.
At the 2019 Annual General Meeting, it was decided to issue 200,000 warrants, of which 170,000 have subsequently been sold to employees within the Magnolia Bostad Group. Each warrant entitles the holder to subscribe for one new share in Magnolia Bostad at an exercise price of SEK 84 and run until 26 April 2024. The remaining 30,000 warrants are owned by Magnolia Utveckling AB. These 30,000 warrants have been valued according to the Black & Scholes model and are being sold today to Johan Tengelin at SEK 5,06 per warrant.
For more information, please contact:
Fredrik Westin, CFO Magnolia Bostad
email@example.com or +46 72 720 00 06
The information Magnolia Bostad publishes in this press release is required in accordance with the EU Market Abuse Regulation (EU) No 596/2014. The information was submitted for publication, through the agency of the contact persons, on 24 August 2020 at 20.55 CEST.
Magnolia Bostad AB, CIN 556797-7078, is a leading urban developer that develops new residential properties, including rental apartments and tenant-owned apartments, community service properties and hotels, in attractive locations in Sweden's growth areas and major cities. Our work is based on a holistic approach where the operations are conducted in a way that promotes long-term, sustainable urban development. Magnolia Bostad's shares (MAG) are listed on Nasdaq Stockholm. More information is available at www.magnoliabostad.se