Announcement No. 21-2010
30 September 2010
Incentive plans
The Board of Directors has approved incentive plans for 9 key employees and
managers in Netop Solutions.
Warrants will be granted under the incentive plan. Warrants will vest over the
period as set out below and may be exercised over a 12 months period beginning
on the expiry of the vesting period. The warrant plans will not be adjusted in
the event of capital increases made at market price.
Warrants will be granted effective 30 September 2010 and the vesting period
start from 1 October 2010 and will expire on 30 September 2012. The exercise
price is DKK 7.86 per share with a nominal value of DKK 5. Exercise of warrants
granted is subject exclusively to the holder being employed with the company at
the date of exercise. No specific terms or targets have been defined in return
for warrants granted.
Warrants granted:
Vesting period Option to acquire shares with a nominal value of DKK 5 each at
a price of DKK 7.86
1 October 2010 - 30 September 2012 91,000 shares
Calculated on the basis of the Black & Scholes formula, the plan has an
aggregate estimated fair value of DKK 320,867 based on a volatility of 80% and
an interest rate of 4%.The financial impact of the incentive program is
expected to be approximately DKK 40,108 which amount will be recognised in the
income statement.
Contact
Kurt Bager, CEO, tel. +45 4590 2525, email: kgb@danware.dk.
Netop Solutions A/S
Netop develops and sells software solutions enabling swift, stable and secure
transfer of video, screen images, sound and data over the Internet. The company
has three core business areas: Administration, Education and Communication.
Netop's unique and cost-saving Administration solutions makes work easier for
IT professionals through remote control and IT asset management. Netop's
market-leading Education solutions for classroom management and corporate
e-learning help students and teachers achieve optimum results through virtual
teaching. Netop's Communication solutions allow customers, business partners
and colleagues to meet easily and safely in virtual space through chat, video
or voice over the Internet. Netop has about 140 employees and subsidiaries in
the USA, the UK, Romania and Switzerland. The company sells its solutions to
public and private sector customers in more than 80 countries. Netop Solutions
A/S is listed on NASDAQ OMX Copenhagen. Netop generated revenue of DKK 85m in
2009. For more information, go to www.netop.com.
Translation In the event of any inconsistency between this document and the
Danish language version, the Danish language version shall be the governing
version.
