Company announcement 21/2022
Today, the board of directors has exercised part of its current authorisation to issue a total of 2,018,009 warrants to the management, independent board members and employees in DonkeyRepublic.
The warrants are an essential part of securing long-term incentive for management in DonkeyRepublic to drive the ambitious growth plan and to ensure long-term value for all Donkey stakeholders.
The CEO
The warrants and the exercise price are distributed as follows:
Warrant holder | Number of warrants | Exercise price (DKK) | Theoretical market value per warrant (DKK) | Vesting |
CEO | 993,641 | 8.80 | 4.30 |
441,618 warrants shall vest on |
331,214 | 16.20 | 2.90 | ||
CFO/COO | 62,103 | 7.00 | 4.83 |
55,202 warrants shall vest on |
62,103 | 8.80 | 4.30 | ||
41,402 | 16.20 | 2.90 | ||
Board members | 30,000 | 12.40 | 3.50 |
The warrants shall vest in equal monthly installments over 36 months during the period |
Employees | 30,800 | 8.80 | 4.30 |
The warrants shall vest in equal monthly installments over 36 months during the period as of their individual starting date, last vesting to be on |
Founders | 350,058 | 8.80 | 4.30 |
233,373 warrants have vested. The remaining 233,373 shall vest in equal monthly installments during the period |
116,688 | 16.20 | 2.90 |
The lower strike price of
The total theoretical market value of the 2,018,009 warrants amounts to
The theoretical market value of one warrant is calculated using the Black Scholes model. The key assumptions for the calculation are a share price of
Each warrant entitles the holder to subscribe for one share of nominally
The warrants include conditions on accelerated vesting in case of an exit event, e.g. a takeover, merger or sale of assets.
Vested warrants can be exercised in periods of four weeks starting the day after the publication of the Company's annual report and half-year report, respectively and in case of an exit event. Warrants shall mature on
The warrants are issued in accordance with article 4.2 of the Articles of Association in which the board of directors is authorized to issue up to a total of 2,400,000 warrants to board members, management and employees. The remaining authorization is 381,991 warrants.
CONTACT INFORMATION ☎
DonkeyRepublic Holding A/S
Niels-HenrikRasmussen, CEO
Mail: investor@donkeyrepublic.com
Skelbækgade 4, trappe B, 4. sal.
1717 København V
www.donkey.bike
Mail: investor@donkeyrepublic.com
Investor website: www.invest.donkey.bike
Financial and Certified Adviser:
Dampfærgevej 8, 1. floor
DK-2100
certified.adviser@cwicf.com
www.clearwaterinternational.com/dk
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