Company announcement no 11-2023
Copenhagen, May 10, 2023
Konsolidator grants 375,000 warrants
Today, the Board of Directors of Konsolidator A/S has exercised part of its current authorization by issuing 375,000 warrants to the employees of the company
CEO, Claus Finderup Grove comments “This is the fourth consecutive year we issue warrants to our employees. We want to show our appreciation of our loyal employees. Having the ability to issue warrants to our employess is a good method for us to retain our talented employees”.
The warrants are issued in accordance with the company's guidelines for incentive-based remuneration and the authorization in section 4.9 of the Articles of Association.
Each warrant entitles the warrant holder to subscribe for one share of nominal DKK 0.04 in the Company. The exercise price is fixed at DKK 6,07 per share corresponding to the average of the closing share price as made public by Nasdaq Copenhagen for the Konsolidator share on the 5 trading days prior to the date on which the Board of Directors decided to grant the warrants. The warrants vest in a series of three (3) successive equal annual installments with the first installment vesting in 2024 on the last day of the calendar month of the execution of this Agreement. Consequently, the last intallment will vest in 2026.
Subject to vesting, the warrants can be exercised in periods of 4 weeks starting the day after publication of the Company’s annual report, half-year reports and/or quarterly financial announcements, respectively. Warrants that have not been exercised before five (5) years following the grant will lapse automatically.
The warrant terms include condition on accelerated vesting in case of change of control, e.g., a takeover bid, resolution, and business transfer. The detailed warrant terms regarding warrants issued by the Company can be found in the Articles of Association on www.konsolidator.com/investor.
After this grant of warrants the total number of outstanding warrants is 1,345,434.
Contacts
- CEO: Claus Finderup Grove, mobile +45 2095 2988, cfg@konsolidator.com
- CFO: Jack Skov, mobile, +45 2282 8845, js@konsolidator.com
Certified Adviser
- Grant Thornton, Jesper Skaarup Vestergaard, phone +45 3527 5011, www.grantthornton.dk
About Konsolidator
Konsolidator A/S is a financial consolidation software company whose primary objective is to make Group CFOs around the world better through automated financial consolidation and reporting in the cloud. Created by CFOs and auditors and powered by innovative technology, Konsolidator removes the complexity of financial consolidation and enables the CFO to save time and gain actionable insights based on key performance data to become a vital part of strategic decision-making. Konsolidator was listed at Nasdaq First North Growth Market Denmark in 2019. Ticker Code: KONSOL
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