Incentive program for leading company officials in the USA

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Incentive program for leading company officials in the USA At an Extraordinary General Meeting in Perbio Science AB today it was resolved to issue employee stock options to be granted to certain leading company officials in the USA and it was further resolved that Perbio Science AB shall issue a loan with detachable warrants to the wholly-owned subsidiary Perbio Science Invest AB, in order to ensure the delivery of shares according to the terms and conditions of the employee stock option program. Employees who received warrants in the 1999 program do not participate in the now resolved program. At a meeting of shareholders in December 1999, it was resolved to grant up to 1,870,000 warrants to current and future leading company officials. Of the total number of warrants only 1,332,500 have been granted, corresponding to a dilution of 3.6%. Up and until 31 July 2002, a total of 816,250 of the warrants had been exercised for the purchase of shares. The warrants can be exercised until 1 September 2003. The remaining 537.500 warrants, which have been saved for future leading company officials, have not been used due to the development of the share price. The employee stock option program comprises a total of maximum 210.000 stock options with rights to acquire an equal number of shares in Perbio Science AB. The program shall serve as a compliment to the previously established warrant program (December 1999) and includes only those leading company officials who did not participate in the earlier program. In other words, group management are not included in the new program. 155.000 stock options will be offered to eight key-employees in the USA while 55.000 stock options will be reserved for possible future key-employees. A maximum of 25.000 stock options per employee will be granted and the options will be granted for free. The complementary employee stock option program can be exercised during August 2003 with an exercise price per share equivalent to 110% of the average volume weighted price for the Perbio Science share during the period from 28 August 2002 through 3 September 2002. The employee stock options can be exercised during August 2003, on the premise that the individuals concerned are still employed in the Perbio Science group on 1 August 2003. The now resolved employee stock option program is equivalent to a maximum dilution of share capital and votes of 0.6 percent. Together with the outstanding warrants in the 1999 program, the maximum level of dilution is 1.9 percent. The accumulated dilution for the warrants issued in the 1999 program and for the currently resolved program, in relation to the number of shares at the listing of Perbio Science in 1999, amounts to a maximum of 4.1 percent. The direct expenses for the employee stock option program are limited primarily to social security contributions in the USA. [REMOVED GRAPHICS] Further information CEO Mats Fischier tel. +46 42 26 90 91 or +46 70 595 18 21 CFO Claes Wenthzel tel. +46 42 26 90 92 or +46 70 862 01 22 Perbio Science AB (O List) is a Swedish biotech company whose customers are found within research institutions, pharmaceutical companies and diagnostics manufacturers. The majority of the company's operations take place in the USA. Perbio Science develops products within the areas of Bioresearch, Cell Culture and Medical Devices. The group has 1,155 employees with offices in Sweden, USA and a number of other countries. The head office is in Helsingborg. More information regarding Perbio Science can be found at ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download: