Allotted Share Options
Oslo, Norway, 2 March 2007
Photocure had a total of 286,261 employee options outstanding as of 31.12.2006.
Photocure has a share options program were each option gives the right to acquire one new share in the company. The subscription rights for 2006 can only be exercised if certain milestones and goals are achieved. The Board of Directors decided a final allotment of 239,200 of these employee share options. Strike price for the options is NOK 50.00 per share.
Of these options, the following amount was allotted to the management team:
- Kjetil Hestdal, President and CEO: 17,500
- Christian Fekete, CFO: 14,400
- Inger Ferner Heglund, VP R&D: 30,500
- Grete Hogstad, VP Marketing and Sales: 14,850
The Board of Directors decided on March 1st, 2007 a conditional allotment of 610,000 share options for 2007. The subscription rights can only be exercised if certain goals for 2007 are achieved. Strike price for the options is NOK 52.50 per share, corresponding to the market value on March 1st, 2007.
Of these subscription rights, the following amount was allotted to the management team:
- Kjetil Hestdal, President and CEO: 35,000
- Christian Fekete, CFO:25,000
- Inger Ferner Heglund, VP R&D: 25,000
- Grete Hogstad, VP Marketing and Sales: 25,000
Photocure ASA is a Norwegian pharmaceutical company founded in 1993 and listed on Oslo Stock Exchange. The company develops and sells pharmaceuticals and medical devices based on proprietary photodynamic technologies, targeting key dermatology and oncology markets.
For further information, contact:
Attn. Kjetil Hestdal (President and CEO) or Christian Fekete (CFO)
Telephone: +47 22 06 22 10
Kjetil Hestdal (kh@photocure.no), Mobile: +47 913 19 535
Christian Fekete (cf@photocure.no), Mobile: +47 916 42 938