Announcement No. 17-2008
26 June 2008
(Correction in second paragraph, second line from three months to three years)
Incentive plans
The Board of Directors has approved incentive plans for the company's CEO, Kurt
Bager, and its CFO, Claus Finderup Grove.
Warrants will be granted under the incentive plans. Warrants will vest over the
period as set out below and may be exercised over a three-year 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 26 June 2008 and will expire on 30 June 2010.
The exercise price is DKK 72.95 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:
Vesting period Option to acquire shares with a nominal value of DKK 5 each at a
price of 72.95
Kurt Bager Claus F. Grove
1 July 2008 - 30 June 2010: 13,708 shares 6,854 shares
Calculated on the basis of the Black & Scholes formula, the plans have an
aggregate estimated fair value of DKK 264,353. The financial impact of the
incentive program is expected to be approximately DKK 62,729 which amount will
be recognised in the income statement.
Ib Kunøe
Chairman
Contact
Kurt Bager, CEO, tel. +45 4590 2525, email: kgb@danware.dk.
Danware's core business is to develop and market software products based on the
NetOp® core technology - a technology enabling swift, secure and seamless
transfer of screens, sound and data between two or more computers. The company's
two product areas are Desktop Management and Education. The core product in
Desktop Management, NetOp® Remote Control, enables remote control of one or more
distant computers. NetOp® School, the core product in Education, is a software
application for computer-based classroom teaching. All are plug ‘n play products
offering extensive functionality, flexibility and user-friendliness. Danware's
products are sold in more than 80 countries. In 2007, the company generated
revenue of about DKK 85m. Danware's shares are listed on the Copenhagen Stock
Exchange and are a component of the Small Cap+ index. Danware operates wholly
owned subsidiaries in the United States, the UK and Germany. For more
information, go to www.danware.com.
