Thin Film Electronics ASA
Thin Film Electronics ASA - Grant of Incentive Subscription Rights
Oslo, 20 January 2021
The Board of Directors of Thin Film Electronics ASA ("Thinfilm" or the "Company") resolved on 20 January 2021 to issue a total of 24,295,824 incentive subscription rights to employees in the Thinfilm group. The grants were made under the Company's 2020 incentive subscription rights plan as resolved at the Extraordinary General Meeting on 19 August 2020. The exercise price of the subscription rights is NOK 0.6225 per share. 50% of the SRs vest after one year following the date of grant, while the remaining 50% vest two years after the date of grant. The SRs expire on 19 August 2025.
In addition, a total of 7,024,580 subscription rights have been granted to members of the board of directors in accordance with the resolution by the Extraordinary General Meeting on 19 August 2020. The exercise price per share for the European directors on the Company’s board is NOK 0.15, while the exercise price per share for the US directors on the Company’s board is NOK 0.6225. 50% of the subscription rights to board members will become vested and exercisable on the earliest of the date immediately preceding the first Annual General Meeting after the date of grant and 30 June in the year of such Annual General Meeting, and the remaining 50% of the SRs will become vested and exercisable on the earliest of the date immediately preceding the Annual General Meeting in the subsequent year and 30 June in such subsequent year.
Following the foregoing grants, there are 115,488,714 subscription rights issued and outstanding in Thinfilm.
Kevin Barber - Chief Executive Officer
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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