The board of directors of Thin Film Electronics ASA ("Thinfilm") has resolved to issue 1,160,000 shares to four employees, in accordance with the Company's 2012 and 2013 Subscription Rights Incentive Plan.
Cashless exercise - transfer of rights
On 4 November 2016, in order to establish a cashless exercise of subscription rights, the 4 exercising employees have transferred their rights to receive shares resulting from the exercise of options to a third party.
The issue of the 1,160,000 shares corresponds to a share capital increase of NOK 127,600 (each share issued having a par value of NOK 0.11). The weighted average subscription price per share was NOK 2.51. The total subscription price therefore is NOK 2,907,900, of which NOK 127,600 is added to the Company's share capital while NOK 2,780,300 is added to the Company's funds in accordance with the provisions of the Public Limited Companies Act.
For more information contact:
Ole Ronny Thorsnes, CFO: +47 91 86 66 97 / ole.thorsnes@thinfilm.no
4 November 2016
Thin Film Electronics ASA
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.