This notification is sent on behalf of four Primary Insiders of Thin Film Electronics ASA, listed below.
Reference is made to today's notification of a share issue of 5,787,500 shares to employees of the Company. 4,350,000 of the Subscription Rights (SR) exercised relate to the 2010 program that expires on 7 May 2015. Thursday 27 February was the last quarterly report release to exercise these SRs before expiry. Upon exercise, the cash impact for the employee of the subscription price and tax impact is about 60% of the number of shares received, depending on tax jurisdiction. The lion share of the shares sold in conjunction with the exercise will hence finance such cash impact for the employees.
Of the total number of exercised subscription rights, 3,900,000 are exercised by the following primary insiders who in turn have sold a total of 3,050,000 shares:
- Davor Sutija, CEO, exercises 2,500,000 subscription rights at a price of NOK 0.80 per share and sells 2,000,000 shares. After the transaction is completed, Mr Sutija will hold 2,200,000 shares and 5,250,000 subscription rights in THIN.
- Christer Karlsson, CTO, exercises 750,000 subscription rights at a price of NOK 0.80 per share and sells 650,000 shares. After the transaction is completed, Mr Karlsson will hold 215,000 shares and 2,200,000 subscription rights in THIN.
- Jennifer Ernst, Chief Strategy Officer, exercises 500,000 subscription rights at a price of NOK 1.63 per share and sells 400,000 shares. After the transaction is completed, Ms Ernst will hold 100,000 shares and 1,950,000 subscription rights in THIN.
- Peter Fischer, Chief Product Officer, exercises 150,000 subscription rights at a price of NOK 2.48 per share and now holds 150,000 shares and 950,000 subscription rights in THIN.
For more information contact:
John Afzelius-Jenevall, CFO: +47 95 87 96 80 / jaj@thinfilm.no
27 February 2015
Thin Film Electronics ASA
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.