Saga Pure ASA – Grant of share options – Amendments to previously granted share options

In the extraordinary general meeting held on 19 February 2021, the Board of Directors of Saga Pure ASA (the "Company") was given an authorization to grant share options to employees and key persons in the Company for up to 20 million shares.

Pursuant to such authorization, the Board of Directors have now granted 3,000,000 share options to an employee. The share options vest and may be exercised over a period of two years, calculated from 1 January 2022. 1,500,000 share options will vest in 6 months, and such share options hold a strike price of NOK 4.00. 750,000 share options vest on the date falling 1 years after 1 January 2022, and such share options hold a strike price of NOK 5.00. The remaining 750,000 share options vest on the date falling 2 years after 1 January 2022, and such share options hold a strike of NOK 6.00.

In addition, the Board has resolved to amend the strike prices of a total of 9 million share options previously granted, held by 3 employees with 3 million share options each. The strike prices of these options are now as set out below:

  • 4.5 million share options, vesting on the date falling 1.5 year after their grant date, hold a strike price of NOK 4.00;
  • 2.25 million share options, vesting on the date falling 2 years after their grant date, hold a strike price of NOK 5.00;
  • 2.25 million share options, vesting on the date falling 3 years after their grant date, hold a strike price of NOK 6.00.

Following this, the Company has a total of 30 million share options outstanding. The share options have a vesting period of three years from their respective grant date, and with strike prices varying between NOK 1.50 – NOK 6.00 per share.

For additional information, please contact:

Bjørn Simonsen, CEO, +47 97 17 98 21

Espen Lundaas, CFO, +47 92 43 14 17

About Saga Pure | www.sagapure.com

Saga Pure ASA is an investment company focusing on opportunities within renewable energy, hydrogen, circular economy and CO2-reduction.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.