On 14 May 2018, The Board of Directors of Gentian Diagnostics AS has decided to launch a share option program under which key personnel can be granted options in Gentian on the terms and conditions applicable under the program.
Under the share option program, a total of up to 559,852 options may be granted to key personnel. The options will be granted without consideration. The strike price will be set at a fair market price at the time of the grant. Each option, when exercised, will give the right to acquire one share in the Company, however, the Company may resolve settlement in cash. Settlement in shares is subject to seeking an authorization from the general meeting for a share issue and/or share buy-back. Pursuant to the vesting schedule, 1/3 of the options will vest 24 months after the day of grant, 1/3 will vest 36 months after the day of grant and 1/3 will vest 48 months (as long as the option holder is still employed). If all share options under the option program would be granted, the total number of outstanding options in Gentian would be 559,852.
Please see the enclosed for further details including The Board of Directors statement on renumeration to key personnel.