Issued warrants fully subscribed by the CEO and Chairman of the Board
This press release is an English version of the previously published Swedish version, which has interpretive precedence.
Smoltek Nanotech Holding AB (the “Company” or “Smoltek”) decided at the Extraordinary General Meeting on December 20, 2021, to issue warrants to the Company's CEO and its Chairman of the Board. The company announced today that the CEO and Chairman of the Board have now subscribed for all options in each offer. Furthermore, the warrants' option premium and subscription price have been set at SEK 5.12 and SEK 47.83, respectively.
The Extraordinary General Meeting of Smoltek resolved on December 20, 2021 that the Company shall issue (i) a maximum of 50,000 warrants of series 2021/2024: 4 to the Company's CEO Håkan Persson entitling to subscribe for 50,000 shares in the Company, and (ii) a maximum of 40,000 warrants of series 2021/2024: 5 to the Company's Chairman of the Board Peter Augustsson entitling to subscribe for 40,000 shares in the Company. The company now announces that both Håkan Persson and Peter Augustsson have subscribed for all options in each offer and in connection with this entered into applicable home bid agreements.
The subscription price per share for the above series of warrants has, in accordance with the option terms, been set at SEK 47.83 calculated on the volume-weighted average price for the Company's share during the ten trading days preceding the AGM, multiplied by two (2). According to the AGM resolution, the market value of the warrants must also be calculated by a player independent of the Company using the Black & Scholes valuation model. This has now happened, which has resulted in a market value (option premium) amounting to SEK 5.12 per warrant of each series, which has been paid in connection with subscription.
For further information:
Håkan Persson, CEO of Smoltek Nanotech Holding AB,
E-mail: hakan.persson@smoltek.com
Phone: +46 760 52 00 53
Website: www.smoltek.com/investors
Smoltek develops process technology and concepts for applications based on carbon nanotechnology to solve advanced materials engineering problems in several industrial sectors. The company protects its unique technology through an extensive and expanding patent portfolio consisting of around 100 applied for patents, of which today 70 have been granted. Smoltek's share is listed on the Spotlight Stock Market in Stockholm, Sweden under the ticker SMOL. Smoltek is a development company, and forward-looking statements regarding time to market, production volume and price levels should be interpreted as forecasts and not commitments.