Share Transactions - Leading Employees
10 Mar 2009
As reported today in NORDEN’s annual report, NORDEN has established a share option programme for leading employees and other key employees, in total 56 employees. Each share option entitles the recipient to acquire one share denominated DKK 1 in NORDEN. This year, the programme has been reduced to 0.85% of the share capital (against 1% in previous years) and the exercise period as well as the period before exercise can take place has been extended from 2 to 3 years. The share options may thus be exercised in the period from 10 March 2012 to 10 March 2015.
The exercise price of the options is determined as the five-day average of the market price following 10 March 2009, less all dividend payments after 10 March 2009 and plus an effective interest rate of 8% p.a. until any exercise. These are the same conditions which apply to the option programme the Company established for 50 employees in March 2008.
According to section 28A of the Danish Securities Trading Act, the Company shall report the following information about the Company’s Senior Executives’ and their families’ transactions with the Company’s shares and relevant securities: