MapsPeople A/S: Grant of warrants
MapsPeople A/S | Grant of warrants
MAY NOT BE PUBLISHED, DISTRIBUTED, OR SUPPLIED OR IN PARTICULAR, DIRECTLY OR INDIRECTLY, IN OR TO THE USA, AUSTRALIA, CANADA, OR JAPAN.
This announcement does not constitute an offering circular, Prospectus, or other offer document. No one should purchase or subscribe for any securities in MapsPeople A/S ("MapsPeople" or the "Company") except on the basis of information in the Prospectus published by the Company in connection with the Offering and admission of such securities to trading on Nasdaq First North Premier Growth Market Denmark ("First North"), which is available on the Company's website.
Company Announcement No. 8 - 2022
Aalborg, May 23, 2022
Grant of warrants
In order to implement a retention and incentive program, the board of directors of MapsPeople today exercised part of its authorization in section 4.3 of MapsPeople’s articles of association to issue a total of 105,020 warrants.
The exercise price is fixed at DKK 6.7 per share corresponding to the opening share price on May 23, 2022. The warrants will vest over 60 months, with 25 percent vesting on May 23, 2023, 25 percent vesting on May 23, 2024, and the remaining warrants vesting quarterly in equal installments for a period of 36 months following May 23, 2024.
Warrants can be exercised in exercise windows of 14 days starting the day after the publication of the MapsPeople's annual report, half-year report or quarterly report. Warrants that have not been exercised May 23, 2029 at the latest, will lapse automatically.
The warrants include conditions on accelerated vesting in case of liquidation, dissolvement in connection with a merger, or delisting.
The specific terms of the warrants can be found in MapsPeople’s articles of association available on: https://investors.mapspeople.com/overview/default.aspx.
The theoretical market value of the warrants granted is DKK 2.31 per warrant (calculated using the Black Scholes Model). The key assumptions for the calculation are a share price of DKK 6.7, an exercise price of DKK 6.7, volatility of 40%, and a risk-free interest rate of 0%.
This Grant of warrants does not change MapsPeople's ARR guidance (Company Announcement No. 1-2022) which continues to be DKK 75-85M for 2022.
CONTACT INFORMATION
MapsPeople A/S
Michael Gram, CEO
Mobile (+45) 53 74 09 00
Email mg@mapspeople.com
Stigsborgvej 60, 9400 Nørresundby
Denmark
Certified Advisor
Grant Thornton
Jesper Skaarup Vestergaard
Mobile (+45) 31 79 90 00
Grant Thornton
Stockholmsgade 45 2100 Copenhagen Ø
Denmark
Source: MapsPeople
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