Oslo, Norway, February 29, 2008
Photocure had a total of 467.503 employee options outstanding as of 31.12.2007.
Photocure has a share options program were each option gives the right to acquire one new share in the company. The subscription rights for 2007 can only be exercised if certain milestones and goals are achieved. The Board of Directors decided a final allotment of 257,575 of these employee share options. Strike price for the options is NOK 52.50 per share.
Of these options, the following amount was allotted to the management team:
- Kjetil Hestdal, President and CEO: 14,000
- Christian Fekete, CFO: 15,000
- Inger Ferner Heglund, VP R&D: 14,375
- Grete Hogstad, VP Marketing and Sales: 15,000
The Board of Directors decided a conditional allotment of 800,000 share options for 2008. The subscription rights can only be exercised if certain goals for 2008 are achieved. Strike price for the options is NOK 38.00 per share, corresponding to the market value on February 28, 2008.
Of these subscription rights, the following amount was allotted to the management team:
- Kjetil Hestdal, President and CEO: 50,000
- Christian Fekete, CFO:40,000
- Inger Ferner Heglund, VP R&D: 40,000
- Grete Hogstad, VP Marketing and Sales: 40,000
- Kjell-Erik Nordby, VP Business development 40,000
For further information, contact:
Attn. Kjetil Hestdal (President and CEO) or Christian Fekete (CFO)
Telephone: +47 22 06 22 10
Kjetil Hestdal (kh@photocure.no), Mobile: +47 913 19 535
Christian Fekete (cf@photocure.no), Mobile: +47 916 42 938