Oslo, 7 May 2002
The Board of Directors of PhotoCure ASA has agreed to extend the 3-year share option plan that was announced in December 2001, primarily as a result of the increase of new employees in the company. Through this extension, 11 employees are offered a total of 14,010 share options / subscription rights in PhotoCure ASA. Each of the share options / subscription rights offererd for 2002, gives subscription right of one new share in the company. These share options may only be earned, i.e. exercised, if certain major goals in the work programme and the budget for 2002 are achieved.
If the allotted share options for 2002 are earned, subscription rights may be exercised until and including 31.12.2005 with the following constraints: 1/3 of the subscription rights may at the earliest be exercised in 2003, another 1/3 may be exercised in 2004 and the remaining 1/3 of the subscription rights may at the earliest be exercised in 2005. The strike price of the shares is NOK 107.50 per share.