Announcement No. 2-2010
11 February 2010
Incentive plans
The Board of Directors has approved an incentive plan for the company's CEO,
Kurt Bager.
Warrants will be granted under the incentive plan. Warrants will vest over the
period as set out below and may be exercised over a 12 months period beginning
on the expiry of the vesting period. The warrant plans will not be adjusted in
the event of capital increases made at market price.
Warrants will be granted effective 10 February 2010 and the vesting period
start from 1 March 2010 and will expire on 29 February 2012. The exercise price
is DKK 10.19 per share with a nominal value of DKK 5. Exercise of warrants
granted is subject exclusively to the holder being employed with Danware at the
date of exercise. No specific terms or targets have been defined in return for
warrants granted.
Warrants granted: Option to acquire shares with a nominal value of DKK 5 each
at a price of DKK 10.19
Vesting period
Kurt Bager
1 March 2010 - 29 February 2012 98,135 shares
Calculated on the basis of the Black & Scholes formula, the plan have an
aggregate estimated fair value of DKK 401,587 based on a volatility of 50% and
an interest rate of 4% The financial impact of the incentive program is
expected to be approximately DKK 167,328 which amount will be recognised in the
income statement for 2010.
Ib Kunøe
Chairman
Contact
Kurt Bager, CEO, tel. +45 4590 2525, email: kgb@danware.dk.
About Netop Solutions A/S
Netop develops and sells software solutions that enable swift, secure and
seamless transfer of video, screens, sounds and data between two or more
computers over the Internet. The company has three business areas,
Administration, Education and Communication. Netop's unique and cost-saving
Administration solutions make life easier for IT professionals with secure
remote control solutions. With the market-leading solutions for Education
classroom management and corporate e-learning, Netop helps students and
teachers to achieve optimum results through virtual education. Netop
Communication solutions let customers, partners and colleagues meet easily and
safely in the virtual space via chat, video and audio over the Internet. Netop
employs 142 people and has subsidiaries in the United States, Great Britain,
Romania and Switzerland. The company sells its solutions to public and private
clients in more than 80 countries. Netop Solutions A/S shares are listed on the
Copenhagen Stock Exchange OMX. In 2008 Netop Solutions had a total revenue of
DKK 92.1m. Read more at: www.netop.com.
