The Annual General Meeting 2015/2016 resolved to adopt a long-term warrant plan for the executive management and certain key employees (LTI2017). In total, 1,067,725 warrants were issued in one series that can be exercised to subscribe for new shares during the period
The Board has resolved that the company shall make an offer to repurchase all outstanding warrants of series 2017/2020, at market terms (corresponding to Dustin's share price, with deduction of the warrant's subscription price). The resolution only concerns the settlement of the warrants and does not entail any changes to the terms of the warrants or the plan. The offer is made conditional upon that the participants invest the consideration, net after taxes, in Dustin shares.
The objective for making the offer is to facilitate for the option holders in LTI2017 to obtain the value of the warrants, given the current market pre-requisites, and at the same time achieve the intention with LTI2017, that key persons in the group shall be shareholders in Dustin. The offer makes it easier for the warrant holders compared to if the warrants had been exercised and the participants had financed the exercise themselves.
The offer does not entail any additional tax costs nor any transaction fees for the company and it also simplifies the administration for the company. In addition, the repurchase of the warrants decreases the warrants' dilutive effect on votes compared to if the warrants had been exercised.
Based on an assumed share price of
For further information, please contact:
Eva Ernfors, Head of Information: eva.ernfors@dustin.se, +46 70 258 62 94
About Dustin
Dustin is a leading online based IT-partner with operations in the Nordics and
Dustin has more than 1.800 employees. Sales for the 2018/19 financial year amounted to
http://publish.ne.cision.com//Release/ViewReleaseHtml/5302EB1EEF10B8A4E0C856B0705FC7D6
https://mb.cision.com/Main/11857/3017604/1180170.pdf
(c) 2020 Cision. All rights reserved., source