Reference is made to the stock exchange release 25 November 2019 regarding the Employee Share Purchase Program.
The Board of Gentian Diagnostics has resolved to issue 6,797 shares to employees at an issue price of NOK 38.10 per share. Also, reference is made to the annual general meeting 28 May 2019 where a statement of remuneration to key personnel was given. In accordance with this statement the board of Gentian Diagnostics AS has allocated a total of 279,962 options to key employees under the existing option program.
The following number of shares and options have been allocated to primary insiders of Gentian Diagnostics AS:
Hilja Ibert, Chief Executive Officer: 315 shares and 139,962 options. Following the allocations Ms. Ibert hold 6,128 shares and 279,924 options in the Company.
Njaal Kind, Group Chief Financial Officer: 315 shares and 40,000 options. Following the allocations Mr. Kind hold 20,315 shares and 74,991 options in the Company.
Erling Sundrehagen, Chief Scientific Officer: 50,000 options. Following the allocation Mr. Sundrehagen and related parties hold 224,083 shares and 50,000 options in the Company.
Torsten Knüttel, Vice President R&D: 315 shares and 10,000 options. Following the allocation Mr. Knüttel hold 315 shares and 10,000 options in the Company.
Aleksandra Havelka, Chief Executive Officer Gentian AB: 10,000 options. Following the allocation Ms. Havelka hold 2,000 shares and 10,000 options in the Company.
Julie Gryga, Chief Financial Officer Gentian AS: 130 shares. Following the allocation Ms. Gryga hold 230 shares in the Company.
The exercise price for the options granted is NOK 47.51 being the average volume-weighted share price on the Oslo Stock Exchange for the past 10 trading days prior to 20 November. The right to exercise the options is vested over a period of 3 years, with 1/3 of the options vesting by the end of each year as follows: (i) 1/3 of the options granted, no earlier than 2 years after the allocation date (ii) 1/3 of the options granted, no earlier than 3 years after the allocation date (iii) 1/3 of the options granted, no earlier than 4 years after the allocation date.