(Oslo, Norway, 24 January 2018) The board of directors of Solon Eiendom ASA ("Solon" or the "Company") has resolved an amendment to the terms for options allocated to its CEO, Andreas Martinussen and CFO, Scott Danielsen. Pursuant to the board's resolution, the exercise price is changed.
The CEO has 750 000 options in the Company that may be exercised in three tranches:
Tranche 1: The CEO may from and including 1 March 2019 to and including 1 March 2022 subscribe up to 250 000 shares at an exercise price at NOK 22 per share.
Tranche 2: The CEO may from and including 1 March 2020 to and including 1 March 2022 subscribe up to 250 000 shares at an exercise price at NOK 25 per share.
Tranche 3: The CEO may from and including 1 March 2021 to and including 1 March 2022 subscribe up to 250 000 shares at an exercise price at NOK 28 per share.
The CFO has 375 000 options in the Company that may be exercised in three tranches:
Tranche 1: The CFO may from and including 1 March 2019 to and including 1 March 2022 subscribe up to 125 000 shares at an exercise price at NOK 22 per share.
Tranche 2: The CEO may from and including 1 March 2020 to and including 1 March 2022 subscribe up to 125 000 shares at an exercise price at NOK 25 per share.
Tranche 3: The CEO may from and including 1 March 2021 to and including 1 March 2022 subscribe up to 125 000 shares at an exercise price at NOK 28 per share
Each option is allocated without consideration and carry the right to subscribe one share in the Company. The options may be exercised in part or full for each tranche and in several rounds. The options shall be adjusted in case of certain changes in the Company's share capital structure. The information above is adjusted for inter alia the reverse share split resolved by the general meeting on 21 March 2017.
Andreas Martinussen own 716.000 shares in Solon through John Galt Invest AS. Scott Danielsen owns 25 001 in Solon.
For further information, please contact:
Andreas Martinussen, Chief Executive Officer, Solon Eiendom ASA
Tel: +47 400 00 405, email: am@soloneiendom.no
Scott Danielsen, Chief Financial Officer, Solon Eiendom ASA
Tel: +47 952 55 620, email: sd@soloneiendom.no
About Solon Eiendom
Solon Eiendom is a Norwegian residential real estate development company focusing on the Oslo and Akershus region.
This information is subject of the disclosure requirements acc. to §5-12 (Norwegian Securities Trading Act).
