New stock option program:
Norsk Renewables is implementing a new stock option program as a strategic move
aligning the interests of employees, management, and shareholders.
The stock option program includes the issuance of stock options of about 15.6
million shares with a strike price of 0.3 NOK. The 15.6 million shares
constitute 6.9% of the shareholding in the company on a fully diluted basis. The
vesting of the stock options requires successful achievement of key milestones
that will constitute significant value creation for the shareholders of the
company.
The level of stock options is well within the 20% mandate issued to the board of
directors by the general meeting. The strike price reflects the valuation of the
last private placement. The new stock option program replaces all historical
stock options.
Appropriate primary insider disclosures will be made when the relevant stock
options have been granted and accepted.