The 2017 shareholders’ general meeting made a decision to offer an incentive plan for the company’s employees to the effect that a maximum of five million (5,000,000) stock options can be issued, with each stock option providing entitlement to subscribe to one (1) share in the company. Subscription to the stock options was to take place no later than December 31, 2017, with the board having the right to extend the subscription period. Subscription through the exercising of stock options may take place during the period June 1, 2020 until June 30, 2020. The subscription price for the options has been set at SeK 0.06 and the subscription price for the shares at SeK 5.40. at the end of the full-year period, 1,630,000 options have been subscribed, corresponding to 33% of total stock options; this was after the options subscribed by employees, including the former CeO, had been bought back. assuming that all stock options are exercised to subscribe to new shares, the number of shares in the company will increase by 1,630,000 shares.
At the Annual General Meeting 2019, it was decided to offer an incentive program for the company’s CEO and CFO, which meant that a maximum of 1 million 300,000 warrants should be issued where each warrant fills the right to subscribe for one (1) share in the company. Subscription of the warrants would take place no later than June 31, 2019, with the right for the Board to extend the subscription period. Subscription with the support of the warrants can take place during the period 1 June 2022 to 30 June 2022. The subscription price for the options is set at SEK 0.32 and the subscription price for the shares at SEK 1.65. At the end of the interim period, 1,300,000 options were subscribed, corresponding to 100% of the total warrants. Assuming that all the warrants are exercised to subscribe for new shares, the number of shares in the company will increase by 1,300,000 shares. Dilution effects are only taken into account in cases where earnings per share deteriorate. Dilution effects have not been taken into account as the average price during the interim period is less than the price in the current option program.