Company announcement no. 5/2023
To strengthen Columbus A/S’ results and value creation for the company’s shareholders, and to attract, retain and motivate senior executives, the Board of Directors has decided to exercise part of the authorization in Art. 5 in the company’s Articles of Association and issue 450,000 warrants, each of which entitles the recipient to subscribe for 1 share of nominal DKK 1.25, in Columbus A/S.
If all warrants are exercised, the total capital increase in Columbus A/S will amount to DKK 562,500, corresponding to 450,000 shares of DKK 1.25.
The exercise periods are scheduled to the first 14 days after publication of the company’s first financial statements succeeding expiry of the relevant vesting periods. The first exercise period is scheduled to the first 14 days after publication of the company’s financial statements for 2023. The second exercise period is scheduled to the first 14 days after publication of the company’s financial statements for 2024. The third exercise period in relation to the new warrant program is scheduled to the first 14 days after publication of the company’s financial statements for 2025.
On the basis of Black & Scholes’ calculation, the total market value forecast of the warrants to be expensed according to IFRS during 2023, 2024 and 2025 is up to DKK 589,500.
Following the issuance of warrants, the authorization of the Board of Directors to issue warrants is reduced to nominally DKK 9,437,500 in Art. 5 of the Articles of Association.
The issue of warrants is in accordance with the Company’s remuneration policy, incl. guidelines for incentive programs, which were adopted at the Company’s Annual General Meeting on 29 April 2022.
The exercise price is based on the average quoted share price in the three trading days prior to the grant date.
The warrants are granted to a senior executive contingent on employment in the company in the below-mentioned vesting periods.
| Share warrants based on employment (new warrant program): | ||
| Period | Right to subscribe shares at DKK 1.25 (nom.) per share | Conditions |
| April 14th 2023 – December 31st 2023: | 150,000 shares at DKK 6.45 per share | Employment in Columbus A/S at December 31st 2023 |
| April 14th 2023 – December 31st 2024: | 150,000 shares at DKK 6.45 per share | Employment in Columbus A/S at December 31st 2024 |
| April 14th 2023 – December 31st 2025: | 150,000 shares at DKK 6.45 per share | Employment in Columbus A/S at December 31st 2025 |
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For further information, please contact: |
Ib Kunøe Søren Krogh Knudsen
Chairman of the Board CEO & President
Attachment
- SE_05_2023_Incentive scheme
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