OMX Nordic Exchange Copenhagen
Announcement no. 16/2009
Grant of warrants and share options for employees
Copenhagen, 30 June 2009. On 29 June 2009 Maconomy's Board of Directors have
decided to grant a total of 465,500 warrants and 57,500 share options to
approx. one-fourth of the employees in the Group (related to the Maconomy share
with securities identification code DK0010274174). This grant constitutes the
second annual round, see announcement 9/2008 for further information about
Maconomy's revolving incentive pro-gramme.
The warrants can be exercised two years after the grant date and expire four
years after the grant. They can be exercised twice a year during five-day
windows. The subscription price is DKK 5.95 per share and has been determined
based on the average price of trades made on OMX Nordic Exchange Copenhagen
five trading days before the decision to grant the warrants was made, plus 5
percent. Hence, the value of granted warrants is valuated in accordance with
the Black & Scholes method, at a volatility rate of 70 per-cent and an interest
rate of 2.85 percent, to DKK 2.62 per warrant, resulting in a total of DKK
1,372,000.
Carsten Elvers and Kell Møller, elected by the employees as member of the Board
of Directors, are com-prised by the grant due to their functions as key
employees in Maconomy. As members of the Board of Directors they are
comprehended by the insider rules in pursuance of the Danish Securities Trading
Act, for which reason the following information is given. They will be granted
4,000 warrants each on the terms men-tioned above and a value of DKK 20,992 in
accordance with the Black & Scholes method. Other than that, neither the Board
of Directors nor Corporate Management is comprised by the grant.
Additionally, the Board of Directors have decided to hedge the grant of share
options by purchasing a corresponding number of own Maconomy shares.
Thomas Hartwig
Chairman of the Board
Further information:
Hugo Dorph, CEO
Tel: +45 35 27 79 00
E-mail: ir@maconomy.com
This announcement has been prepared in Danish and English. The Danish version
is to be considered the original version for official purposes and in case of
any discrepancies between the two versions the Danish version shall prevail.
