BoMill’s long-term incentive program for employees fully subscribed
3 September 2021, 08:30 CET
On May 6, 2021, the Annual General Meeting of BoMill AB resolved on an long-term incentive program through a directed issue of 200,000 warrants of series B 2021-2024 that entitles senior executives and other employees of BoMill the right to subscribe for new shares in the company. The last day for subscription of warrants was August 30, 2021, and the directed issue of warrants was fully subscribed.
The purpose of the incentive program is to strengthen the employees of the company´s interest and incentives for the company’s financial growth. The rights to subscribe were offered to the CEO and other executives as well as other employees. CEO Andreas Jeppsson subscribed for 75 000 warrants and other senior executives and employees subscribed for 125 000 warrants. In total, all 200,000 warrants were subscribed for.
The warrants will be issued against payment where the subscription price was established on the basis of a market value for the warrants using the Black & Scholes formula. Following the full subscription for warrants, the company will be provided with SEK 26 000.
Each warrant entitles the holder to subscribe for one new share in BoMill, to a subscription price corresponding to 300 % of the volume weighted market value of the share the ten trading days from and including August 2, 2021, to and including August 13, 2021, in accordance with the Black & Scholes formula. Subscription for shares shall be made through payment in cash to BoMill during the period of August 16, 2024, to August 26, 2024. Should all warrants be exercised, BoMill’s share capital will increase by SEK 200,000 and the number of shares will increase by 200,000 shares.
Should all warrants be exercised, the dilution for existing shareholders based on the current number of shares is 1.3%.
“I am convinced that BoMill has a promising future ahead and I am happy for this opportunity given to our entire team. With all warrants being exercised, it shows that we have an exciting business case that we all believe in”, comments CEO Andreas Jeppsson.
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