PhotoCure - Share Option Plan 2003
Oslo, 16 December 2002.
The Board of Directors in PhotoCure ASA has decided to prolong the share option plan for PhotoCure employees, which was established in December 2001. The plan now includes all employees at PhotoCure.
Through the share option plan, 118,550 share options / subscription rights are allotted for 2003, each of them giving the right to acquire one new share in the company. A total of 40,000 of these subscription rights are allotted to the company management. The subscription rights can only be exercised if certain milestones and goals in the budget for 2003 are achieved. If the goals are achieved, the subscription rights can be exercised until the 31st of December 2006 with the following constraints: 1/3 of the subscription rights can be exercised at the earliest in year 2004, 1/3 can at the earliest be exercised in year 2005 and the remaining 1/3 can at the earliest be exercised in 2006. The strike price of the shares is NOK 34.50, which equals the closing price of 13 December 2002.
Through the share option plan, 118,550 share options / subscription rights are allotted for 2003, each of them giving the right to acquire one new share in the company. A total of 40,000 of these subscription rights are allotted to the company management. The subscription rights can only be exercised if certain milestones and goals in the budget for 2003 are achieved. If the goals are achieved, the subscription rights can be exercised until the 31st of December 2006 with the following constraints: 1/3 of the subscription rights can be exercised at the earliest in year 2004, 1/3 can at the earliest be exercised in year 2005 and the remaining 1/3 can at the earliest be exercised in 2006. The strike price of the shares is NOK 34.50, which equals the closing price of 13 December 2002.