Share-based remuneration programme

Copenhagen Stock Exchange



1 April 2008
Announcement No. 03 - 2008





Share-based remuneration programme

In order to be able to constantly attract and retain competent employees, the
Supervisory Board of PARKEN Sport & Entertainment A/S has decided, on 31 March
2008, to introduce a share-based remuneration programme. 

Options granted to members of the Executive Board:
10,000 share options have been granted. Each option entitles its holder to
purchase 1 share of a nominal value of DKK 20 in PARKEN Sport & Entertainment
A/S. 

The exercise price of the share options is DKK 1,057.31 each and the exercise
period has been determined as four weeks after the publication of the interim
report at 30 September 2010. It has been agreed that section 7 H of the Danish
Tax Assessment Act shall apply. 

In order to exercise the share options, Executive Board members must hold their
positions on the Executive Board of PARKEN Sport & Entertainment A/S at the
time of exercise. 

The market value has been calculated at DKK 3,224,000, based on the
Black-Scholes model. This calculation is based on the assumption of a dividend
rate of 0, a volatility rate of 30%, a risk-free interest rate of 4.30% and a
time to expiration of 2.67 years. 

Options granted to other executives:
Three share options have been granted, entitling the holders to acquire 3,000
shares of a nominal value of 20.00 each in PARKEN Sport & Entertainment A/S.
Thus a total of 9,000 shares may be acquired. 
 
The exercise price of the three share options of 3,000 shares each has been
agreed as follows: share option no. 1 - DKK 1,057.31 per share of DKK 20; no. 2
- the average price quoted on the OMX on 15 February 2009; and share option no.
3 - the average price quoted on the OMX on 15 February 2010. Section 7 H of the
Danish Tax Assessment Act shall apply. 

The share options may be exercised only during the following periods:
share option no. 1 six weeks after the publication of the annual report for
2009; share option no. 2 six weeks after the publication of the annual report
for 2010; and share option no. 3 six weeks after the publication of the annual
report for 2011. In order to exercise the share options, executives must not be
under notice of termination at the time of exercise. 

The market value of the first option granted has been calculated at DKK
846,000, based on the Black-Scholes model. This calculation is based on the
assumption of a dividend rate of 0, a volatility rate of 30%, a risk-free
interest rate of 4.30% and a time to expiration of 2.00 years. 

Yours sincerely
PARKEN Sport & Entertainment A/S



Flemming Østergaard
Chairman