The annual general meeting of Thin Film Electronics ASA ("Thinfilm") resolved on 7 May 2015 that Board members may elect to receive all or part of their board remuneration in the form of shares in Thinfilm; that the number of shares shall correspond to a value of 120 per cent of the NOK amount granted as board remuneration; that the board member must pay a subscription price per share equal to the par value of the share, NOK 0.11; and that the shares cannot be sold before the earlier of the date of the Annual General Meeting of Thinfilm in 2016, or 30 June 2016.
Board members Preeti Mardia and Tor Mesøy each elected to receive the board remuneration in shares. As a result, Thinfilm will issue a total of 67,852 shares to these two board members.
As a consequence of the issuance of shares, the share capital will increase by a total of NOK 7,463.72. The shares will be issued when the share capital has been paid in.
In addition, the Board of Directors of Thin Film Electronics ASA ("Thinfilm") resolved on 7 May 2015 to grant a total of 500,000 incentive subscription rights ("SRs") to an employee of the company, Kai Leppänen, on the back of his promotion to Chief Commercial Officer. The grant was made under Thinfilm's 2015 Subscription Rights Incentive Plan as resolved at Thinfilm's annual general meeting on 7 May 2015.
The exercise price of the SRs is NOK 6.34 per share. 25 per cent of the SRs vest at each anniversary from the date of the grant. The SRs expire on 7 May 2020.
Following the grant, there are 27,015,000 SRs outstanding in Thinfilm.
7 May 2015
Thin Film Electronics ASA
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.