PhotoCure - Allotted Share Options
Oslo, Norway, 28 February 2005.
PhotoCure ASA had a total of 121,709 employee options outstanding as of 31.12.2004.
As PhotoCure has previously notified, 133,550 share options were conditionally allotted for 2004, each of them giving the right to acquire one new share in the company. The subscription rights could only be exercised if certain milestones and goals for 2004 were achieved. The Board of Directors decided a final allotment of 26,903 of these employee share options. Strike price for the options is NOK 53.50 per share.
Of these subscription rights, the following amount was allotted to the management team:
- Kjetil Hestdal, President and CEO: 1,000
- Hilde Morris, VP R&D: 1,000
- John Afseth, VP Business Operations: 300
The Board of Directors decided on February 25th 2005 a conditional allotment of 195,000 share options for 2005. The subscription rights can only be exercised if certain goals for 2005 are achieved. Strike price for the options is NOK 34.00 per share, corresponding to the market value on February 25th, 2005.
Of these subscription rights, the following amount was allotted to the management team:
- Kjetil Hestdal, President and CEO: 20,000
- Christian Fekete, CFO: 10,000
- Hilde Morris, VP R&D: 10,000
- John Afseth, VP Business Operations: 10,000
- Grete Hogstad, VP Sales and Marketing: 10,000
- Pål Bråthen, VP Business Development: 10,000
The Board of Directors has decided the following additional allotment for the management team:
- Kjetil Hestdal, President and CEO: 40,000
- Christian Fekete, CFO: 25,000
- Hilde Morris, VP R&D: 25,000
- John Afseth, VP Business Operations: 25,000
- Grete Hogstad, VP Sales and Marketing: 25,000
- Pål Bråthen, VP Business Development: 25,000
Strike for the options is NOK 34.00 per share.