Share-Based Incentive Programmes
At the Thule Group Extraordinary General Meeting on November 12, 2014 it was resolved to issue warrants as part of incentive programs for (i) management and key employees and (ii) the Chairman of the Board of Directors (the “Participants”). In total the incentive programs currently comprise 7 individuals. Warrants have been issued to and subscribed by Thule Group’s subsidiary Thule AB, and the Participants have acquired warrants from this subsidiary at market value corresponding in total to SEK 13.25 million. The total program corresponds to maximum 4,999,998 warrants and warrants not acquired by the Participants may be offered to newly hired executive management and/or key employees in the future. The program corresponds to 5% of Thule Group’s share capital if fully exercised. The warrants have been issued in three separate series, each comprising an equal number of warrants.
- Series 2014/2016 has been exericsed.
- Series 2014/2017 has been exericsed.
- The exercise price for Series 2014/18 is SEK 88*. Furthermore, if at the time of subscription, the last paid price for the Company’s shares on the closing of the stock exchange on the trading day preceding the subscription of new shares exceeds 164%of the determined exercise price, the exercise price shall be increased with an amount corresponding to an amount of the said price which exceeds 164% of the exercise price.
* Subject to recalculation if dividend is declared in accordance with the terms and conditions for subscriptions warrants.