Shape Robotics A/S: Long-term Incentive Programme
Company Announcement No. 5-2020
Copenhagen, June 29th, 2020
The Board of Shape Robotics A/S has today allocated share options to members of the Executive Management and key staff (11 persons in total) as part of the company’s Long-term Incentive Programme (LTIP) described in the prospectus of June 3rd 2020 page 52.
The share options were allocated as such:
- Executive Management, 71,429 share options
- Staff, 61,224 share options
Each share option gives the right to acquire one share in the company of DKK 0.10 per share at a strike price of DKK 9.8 per share, identical to the IPO subscription price for a share in the company in the initial public offering. The share options will ordinarily vest within a period of up to 3 years, subject to continued employment. Options that are vested can be exercised in a period of four weeks after the publication of the first annual report after vesting. Share options that are not exercised withing such period of four weeks lapse without notice or compensation.
The theoretical value is DKK 3.6 per option bringing the theoretical value of the programme to TDKK 477.6, using the Black-Scholes model.
To cover the company’s obligations in the share-based option programme, the company has acquired 203,500 shares at a price of DKK 9.82 pr. share, from the pre-IPO shareholders.
The primary purpose of the programme is to retain key staff and to align the interests of shareholders and the incentive programme participants.
About Shape Robotics A/S
Shape Robotics A/S (”Shape Robotics” or ”the Company”) is a Danish robotics company with a strong position in the global educational technology (”EdTech”) market. The Company has developed Fable, a unique modular robot that makes it easy and fun for students to build and program their own robots. Since the launch of Fable in 2017 more than 5000 robots have been sold and shipped to schools around the world.
Shape Robotics helps educational institutions provide excellent teaching that will prepare students for a fast-changing future where digital technologies, artificial intelligence, and automation are transforming life and work. Fable is a modular robot that students can build in seconds. The robot system is robust, can withstand everyday usage in classrooms and can be used to solve demanding tasks. Students code Fable depending on their experience - from simple block programming to coding in the advanced Python language. Comprehensive teaching materials has been developed in collaboration with professional educators. Therefore, Shape Robotics provides complete teaching solutions for educational institutions from the 3rd grade to high-school and vocational schools.
Further Information
David Johan Christensen, CEO Shape Robotics A/S
Tel. (+45) 2685 0903
Email: david@shaperobotics.com
Investor relations
André Fehrn, CFO Shape Robotics A/S
Tlf. (+45) 2444 8556
Email: ir@shaperobotics.com
Rugmarken 18, 3520 Farum, Denmark
CVR-nr. 38322656
www.shaperobotics.com
Certified advisor contact
Västra Hamnen Corporate Finance AB
Christer Nilsson
Tel. (+46) 733 968 404
Email: ca@vhcorp.se
Jungmansgatan 12, 211 11 Malmö, Sweden
Bredgade 30, 1260 Copenhagen, Denmark