The Board of Directors of Ensurge Micropower ASA (the "Company") resolved on 20 August 2024 to grant a total of 11,400,000 incentive subscription rights to its US employees/consultants in the Ensurge group and the CEO/CFO Lars Eikeland. The grant was made under the Company's 2024 incentive subscription rights plan, as resolved at the Annual General Meeting on 14 May 2024. The exercise price of the subscription rights is calculated to NOK 1.386 per share. For 11,060,000 of the granted subscription rights, 10% of the subscription rights will vest on the one-year anniversary of the date of grant, 20% will vest on the two-year anniversary of the date of grant, and 70% will vest on the three-year anniversary of the date of grant.
For the remaining 340,000 granted subscription rights, 50% of the subscription rights will vest on the one-year anniversary of the date of grant, and the remaining 50% will vest on the two-year anniversary of the date of grant.
The subscription rights expire on 14 May 2029. The subscription rights otherwise follow the terms and conditions of the 2024 subscription rights incentive plan.
About Ensurge Micropower:
Ensurge is Energizing Innovation (TM) with the first ultrathin, flexible, reliable, and fundamentally safe solid-state lithium microbattery for the 1 to 100 milliampere-hour (mAh) class of wearable devices, connected sensors, and beyond. The innovative Ensurge Microbattery enables energy-dense rechargeable products that are ideal for form-factor-constrained applications including hearables (hearing aids and wireless headphones), digital and health wearables, sports and fitness devices, and IoT sensor solutions that use energy harvesting to power everyday things. The company's state-of-the-art manufacturing facility, located in the heart of Silicon Valley, combines patented process technology and materials innovation with the scale of roll-to-roll production methods to bring the advantages of Ensurge technology to established and expanding markets.
For more information, please contact:
Lars Eikeland, Chief Executive Officer
E-mail: lars.eikeland@ensurge.com (mailto:lars.eikeland@ensurge.com)
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
