Nitro Games distributes incentive options to management and personnel
The annual general meeting of Nitro Games Oyj (”Company”) has on 24 March 2017 resolved to authorise the Board of Directors to issue stock options to the key personnel of the Company. The Company’s Board of Directors has distributed to the management and other personnel of the Company a total of 57,500 new option rights on 29 November 2017.
Based on the stock option program The maximum total number of stock options issued is 231,000, and they entitle their owners to subscribe for a maximum total of 231,000 new shares in the Company.
Of the stock options, 115,500 were distributed 28 April 2017 and marked with the symbol 1/2017A. The Board of Directors may decide on other stock option classes and how they are marked with. The Board of Directors shall have the right to convert stock options held by the Company from one stock option class to another. The Board of Directors has now decided to distribute 57,500 stock options marked with the symbol 2/2017B to management and other personnel. There are 58,000 stock options reserved for future use.
The Board of Directors is authorised to decide on share subscription period, provided that, it shall be between 1 June 2017 and 31 December 2021. The subscription period for the shares to be subscribed against the options is staggered, being with option rights 1/2017A from 1 June 2018 to 31 December 2021 and with 1/2017B from 31 December 2018 to 31 December 2021. The share subscription price is EUR 8.5 per share.
The conditions of the stock option program are available at the company’s website www.nitrogames.com/investors
For more information:
CEO Jussi Tähtinen
Phone: +358 44 388 1071
This company announcement contains information that Nitro Games Oyj is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by aforementioned contact person on 29 November 2017 at 14:30 (EET).
Nitro Games in brief:
Nitro Games is a free-to-play mobile game developer and publisher with a decade of experience in developing games for the mid-core user segment, mostly focusing on the genre of strategy games. The Company focuses on producing games with high production value and high revenue potential for smartphones and tablets. With Nitro Games’ powerful NG Platform and NG MVP-process, the Company is able to do market validation with new game prototypes after only a week of development. Historically, Nitro Games has developed games such as East India Company, Commander: Conquest of the Americas, Pirates of Black Cove and Raids of Glory. Nitro Games’ shares are listed on Nasdaq First North Stockholm with the ticker NITRO, and the company’s Certified Adviser is Augment Partners AB, phone: +46 8 505 651 72. www.nitrogames.com