The annual general meeting of Thin Film Electronics ASA ("Thinfilm") resolved on 10 May 2016 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, based on the last close, 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 2017, or 30 June 2017.
The Chairman of the Board Morten Opstad and Board member Preeti Mardia both elected to partly receive the board remuneration in shares. As a result, Thinfilm will issue a total of 59,260 shares to these two board members.
As a consequence of the issuance of shares, the share capital will increase by a total of NOK 6,518.60. The shares will be issued when the share capital has been paid in. Following this transaction, the Company's share capital will be NOK 74,794,127.87.
Following this transaction, Mr Opstad will hold or control 1,586,708 shares and Ms Mardia will hold or control 133,552 shares in Thinfilm.
In addition, the Board of Directors of Thin Film Electronics ASA ("Thinfilm") resolved on 10 May 2016 to grant a total of 1,100,000 incentive subscription rights ("SRs") to 10 new employees of the company The grant was made under Thinfilm's 2016 Subscription Rights Incentive Plan as resolved at Thinfilm's annual general meeting on 10 May 2016.
The exercise price of the SRs is NOK 4.07 per share. 25 per cent of the SRs vest at each anniversary from the date of the grant. The SRs expire on 10 May 2021.
Following the grant, there are 30,912,500 SRs outstanding in Thinfilm.
10 May 2016
Thin Film Electronics ASA
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.