Horten,
The offer is made to provide the Company's employees and consultants with long-term incentives in order to contribute to positive development of the Company.
The main terms of the new share options are as set out below:
· Each share option gives the right to require issuance of one new share in the Company;
· The options vest over 3 years;
· Exercisable options may be exercised during certain exercise periods to be determined by the Board of Directors from time to time;
· Any vested options that are not exercised during an exercise period will be transferred to the subsequent exercise period;
· The options expire 5 years after their grant. Following such date, the options are void and cancelled;
· If an offeror becomes the owner of at least 9/10 of the issued shares of the Company, all of the employee's unvested Options shall become immediately vested;
and
· The strike price for each option is
As of today, the following primary insiders have accepted the offer and holds share options as further described below:
Øyvind Isaksen, CEO, has accepted to replace 1,926,530 existing share options with new share options and extend the expiry date of 157,215 share options with one year and holds:
· 157,215 share options with a strike price of
· 1,926,530 share options with a strike price of
· The total holding of Øyvind Isaksen is 317,625 shares (held through OiMaCon AS) and 2,083,745 share options.
· 410,615 share options with a strike price of
· The total holding of
· 458,615 share options with a strike price of
· The total holding of
Alf Henning Bekkevik, CFO, has accepted to replace 351,115 existing share options with new share options and holds:
· 351,115 share options with a strike price of
· The total holding of Alf Henning Bekkevik is 61,096 shares and 351,115 share options.
· 250,000 share options with a strike price of
· The total holding of
All other employees will also be offered to replace the existing agreements based on the same terms.
This information is subject to the disclosure requirements pursuant to sections 4-2 and 5-12 of the Norwegian Securities Trading Act.
Further information from:
Dr. Øyvind Isaksen, CEO, poLight ASA: +47 90 87 63 98
About poLight ASA
poLight ASA (OSE: PLT) offers patented, state-of-the-art tunable optics technology, leveraging its proprietary polymer and piezo MEMS technology. Founded in 2005, its first product TLens® replicates "the human eye" experience in autofocus cameras used in applications such as AR/MR devices, smartphones, wearables, webcams and other consumer devices, industrial barcode scanners and machine vision systems, and healthcare applications. With over 160 granted patents, poLight's technology delivers extremely fast focus, small footprint, ultra-low power consumption, no magnetic interference, and constant field of view, enabling better imaging system performance and new user experiences compared to alternative technologies. poLight is based in Horten,
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