NASDAQ OMX Copenhagen 26 August 2010
Nikolaj Plads 6
DK-1067 Copenhagen K
STOCK EXCHANGE ANNOUNCEMENT No. 24/10
Warrant programme for managerial employees
At a meeting held today, the Board of Directors of Topsil Semiconductor
Materials A/S resolved to grant a warrant programme to two managerial employees
of the company.
Key elements of the warrant programme:
A total of 1,968,444 warrants have been granted to 2 newly appointed named
employees.
• Each warrant entitles the holder to subscribe for one share with a nominal
value of DKK 0.25 in the company.
• The exercise price has been fixed at DKK. 1.47 per share.
• The warrants are exercisable at the rate of one half in each of the following
periods:
- For a period of up to six weeks following publication of the full-year
profit announcement for 2010.
- For a period of up to six weeks following publication of the full-year
profit announcement for 2011.
• On expiry of an exercise period, any unexercised warrants will be transferred
to the following exercise period. On expiry of the second exercise period, all
unexercised warrants will lapse.
• The managerial employee retains the right to any warrants granted if such
employee's employment with the company ends due to termination on the part of
the company before the employee has exercised the warrants granted. The
employee loses the right to any unexercised warrants if such employee's
employment with the company terminates due to the employee's own resignation
before the exercise period has occurred.
The fair value of the aggregate warrant programme of 1,968,444 warrants has
been calculated at DKK 376,464 at the date of grant.
At the same time, the Board of Directors resolved to issue 2,254,638 warrants
to the company's Chief Executive Officer, VP Sales and Marketing and 11
managerial employees of the company, as a consequence of dilution in relation
to the recently completed capital increase.
The Chief Executive Officer is granted 630,240 warrants, the VP Sales and
Marketing is granted 294,112 warrants, and the remaining 1,330,286 warrants
have been allocated to the other 11 managerial employees.
Please direct any questions regarding this announcement to:
Jens Borelli-Kjær, Chairman, tel. +45 40 16 14 82
Keld Lindegaard Andersen, Chief Executive Officer, tel. +45 21 70 87 72
Topsil Semiconductor Materials A/S
Jens Borelli-Kjær Keld Lindegaard Andersen
Chairman Chief Executive Officer
Please note that this translation is provided for convenience only. The Danish
version shall prevail in case of discrepancies.
