Lysaker, Norway, 14 May, 2013.
In accordance with the Board of Directors' declaration on management remuneration approved in the Annual general meeting on 6 May 2013 and the Power of Attorney given at the general meeting on 25 April 2012, the Board of PCI Biotech Holding ASA has made the following changes in the option program;
· Options allocated in 2008 expiring in 2013 are extended with 3 years until 2016. At the same time, options allocated in 2008 are reduced with 1/3 from 255,000 to 170,000 options. Strike price is unchanged at NOK 19.02 per share.
· Options allocated in 2008 to primary insider Per Walday, CEO, are reduced with 1/3 from 120,000 to 80,000. After the reduction, Per Walday has a total of 186,000 options.
· The 85,000 released options are allocated to 2 employees, of which 70,000 options to Head of Business Development Gael L'Hévéder. The employees may exercise 1/3 of the options after 1 year, another 1/3 after 2 years and the last 1/3 after 3 years. The options expire in Q2 2018. Strike price for these share options is NOK 19.63 per share, equal to the average price of all trades the 5 last days with trade prior to allocation.
· After these changes, total number for options allocated to employees is still 739,000 options.
For further information, please contact:
Per Walday
CEO
Email: pw@pcibiotech.no
Mobil: +47 917 93 429
In accordance with the Board of Directors' declaration on management remuneration approved in the Annual general meeting on 6 May 2013 and the Power of Attorney given at the general meeting on 25 April 2012, the Board of PCI Biotech Holding ASA has made the following changes in the option program;
· Options allocated in 2008 expiring in 2013 are extended with 3 years until 2016. At the same time, options allocated in 2008 are reduced with 1/3 from 255,000 to 170,000 options. Strike price is unchanged at NOK 19.02 per share.
· Options allocated in 2008 to primary insider Per Walday, CEO, are reduced with 1/3 from 120,000 to 80,000. After the reduction, Per Walday has a total of 186,000 options.
· The 85,000 released options are allocated to 2 employees, of which 70,000 options to Head of Business Development Gael L'Hévéder. The employees may exercise 1/3 of the options after 1 year, another 1/3 after 2 years and the last 1/3 after 3 years. The options expire in Q2 2018. Strike price for these share options is NOK 19.63 per share, equal to the average price of all trades the 5 last days with trade prior to allocation.
· After these changes, total number for options allocated to employees is still 739,000 options.
For further information, please contact:
Per Walday
CEO
Email: pw@pcibiotech.no
Mobil: +47 917 93 429
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.