Ensurge Micropower ASA - Grant of Incentive Subscription Rights
August 20 2024 - 12:33PM
UK Regulatory
Ensurge Micropower ASA - Grant of Incentive Subscription Rights
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.
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