The board of directors of Thin Film Electronics ASA ("Thinfilm") has resolved to issue 450,000 shares to Peter Fischer, COO and a primary insider in Thinfilm, in accordance with the Company's 2013 Subscription Rights Incentive Plan. The subscription rights were exercised at a subscription price of NOK 2.48 per share.
Upon exercise, the cash impact for Mr. Fischer of the subscription price and tax impact is 85 % of the number of shares received. The employee is consequently selling shares in order to finance said cash impact.
Mr. Fischer has in turn sold 415,000 shares at NOK 3.50 in order to finance the above-mentioned exercise price and tax liability. After the transaction is completed, Mr Fischer will hold 35,000 shares and 1,600,000 subscription rights in Thinfilm.
The issue of the 450,000 shares corresponds to a share capital increase of NOK 49,500 (each share issued having a par value of NOK 0.11). The subscription price per share was NOK 2.48. The total subscription price therefore is NOK 1,116,000, of which NOK 49,500 is added to the Company's share capital while NOK 1,066,500 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
11 August 2017
Thin Film Electronics ASA
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.