Oslo, Norway, March 2, 2009
Photocure had a total of 496,192 employee options outstanding as of 31.12.2008.
Photocure has a share options program were each option gives the right to acquire one new share in the company. The subscription rights for 2008 can only be exercised if certain milestones and goals are achieved. The Board of Directors decided a final allotment of 494,675 of these employee share options. Strike price for the options is NOK 36.00 per share. Of these options, the following amount was allotted to the management team:
• Kjetil Hestdal, President and CEO: 21,500
• Christian Fekete, CFO: 24,600
• Inger Ferner Heglund, VP R&D: 24,600
• Grete Hogstad, VP Marketing and Sales: 21,600
The Board of Directors decided a conditional allotment of 530,000 share options for 2009. The subscription rights can only be exercised if certain goals for 2009 are achieved. Strike price for the options is NOK 24.30 per share, corresponding to the market price on February 27, 2009. Of these subscription rights, the following amount was allotted to the management team:
• Kjetil Hestdal, President and CEO: 50,000
• Christian Fekete, CFO:30,000
• Inger Ferner Heglund, VP R&D: 30,000
• Grete Hogstad, VP Marketing and Sales: 30,000
For further information, contact:
Attn. Kjetil Hestdal (President and CEO) or Christian Fekete (CFO)
Telephone: +47 22 06 22 10
Kjetil Hestdal (kh@photocure.no), Mobile: +47 913 19 535
Christian Fekete (cf@photocure.no), Mobile: +47 916 42 938
Photocure ASA