The board of directors of Thin Film Electronics ASA ("Thinfilm") has resolved to issue 2,057,500 shares to nine employees, in accordance with the Company's 2012 Subscription Rights Incentive Plan.
All of the Subscription Rights exercised expire on 10 May 2017.
Upon exercise, the cash impact for the employee of the subscription price and tax impact is 75-80% of the number of shares received, depending on exercise price and tax jurisdiction. The employees are consequently selling shares in order to finance said cash impact.
Of the total number of exercised subscription rights, 1,650,000 are exercised by the following primary insiders who in turn have sold a total of 1,230,000 shares in order to finance the above-mentioned exercise price and tax liability:
The issue of the 2,057,500 shares corresponds to a share capital increase of NOK 226,325 (each share issued having a par value of NOK 0.11). The weighted average subscription price per share was NOK 1.88. The total subscription price therefore is NOK 3,872,675, of which NOK 226,325 is added to the Company's share capital while NOK 3,646,350 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 / email@example.com
5 May 2017
Thin Film Electronics ASA