Elettronica
Kitron - Introduction of new share option program and allocation of options
(2015-12-18) In accordance with the Board of Director's Declaration on salaries and other remuneration to the senior executive management, as approved by Kitron ASA's ("Kitron") annual general meeting held 21 April 2015, the Board of Kitron is authorized to introduce a new share option program for management employees in Kitron comprising up to 5 500 000 shares running for three years from the start of the second calendar quarter of 2016.
On 18 December 2015, the Board decided to allocate 3,000,000 options under the new share option program as follows:
Each option entitles the holder to subscribe one share in Kitron. The options are allocated without consideration and with a strike price at NOK 0.10. The options have a vesting period of three years with full vesting at the end of the vesting period, provided that the following conditions are fulfilled:
The options shall be adjusted in case of certain amendments to the Kitron's share capital. The options shall regardless of the vesting period be vested if a public offer is made for the shares in the Company and the number of shares vesting will depend on the offer price.
After the allocation of options the mentioned persons have, together with related parties, the following holding of shares and rights to shares in the Company:
For further information please contact:
Tuomo Lähdesmäki, Chairman, Tel.: +358-50-5879648.
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is one of Scandinavia's leading electronics manufacturing services companies for the Aerospace/Defence, Energy/Telecoms, Industry, Medical equipment and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, China and the United States. Kitron had revenues of about NOK 1.75 billion in 2014 and has about 1 200 employees. www.kitron.com
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This information is subject of the disclosure in accordance with section 5-12 of the Norwegian Securities Trading Act (Norwegian: verdipapirhandelloven).
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