1.2.2023 08:05:00 CET | FOM Technologies | Company Announcement

Company announcement no. 52 – 2023 |Copenhagen, the 1st of February 2023

As part of the company’s long-term incentive and retention program, the Board of Directors has decided to issue the 2023 allocation to executive management. The program consists of warrants granted on the following terms:

Issuing of 125,000 warrants which gives the right to a subscription of 125,000 shares in the company at a nominal value of DKK 0.10 per share.

The purpose of the program is to maintain the employment of professional and valuable resources in the company, and to provide an incentive for them to make a special effort for
the value creation of the company.  The incentive and retention program involves executive management of the company.

The warrant program will be vested throughout 2023, starting from the issuing date. The warrants are granted as a one-time grant, and vesting will be in accordance with specification by the Board of Directors where warrant holders earn the right to exercise the warrants with 1/12 per month from the date of the issuing.

Warrants can be exercised at a price of DKK 37.00 in four exercise windows. Two in 2025 and two in 2026.  The exercise window is defined as the five-day trading period after publishing of the annual reports + H1 report during the two above mentioned years.

If fully vested and exercised, the implemented program will increase the FOM Technologies share pool by 1.61 % from 7,778,419 shares to 7,903,419 shares. The implemented program may be followed by similar warrant programs, which ultimately may increase the incentive share/warrant pool to 740,741 shares (9.52 % of share capital) if fully vested and exercised by 2028.

The key assumptions for the calculation are:

* Theoretical market value of a warrant granted:
                          DKK 9,49 calculated using the Black-Scholes model.
* Share price:     DKK 42.00 (Official FOM Nasdaq FN 2022 closing price on the 30^th of Dec. 2022).
* Exercise price:  DKK 37.00 (Official FOM Nasdaq FN 2022 closing price on the 30^th of Dec. 2022
                          – 10%, rounded down to full number).
* Duration:          2 years
* Volatility:          25.00 %
* Interest rate:    2.55 % (2-year risk free gov. bond – Official closing the 30^th of December 2022)

The specific terms and condition for granting, vesting and exercise of the warrants are set out in Appendix 3 to the Company's articles of association.


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CONTACT INFORMATION:

Company:
FOM Technologies A/S
CEO Michael Stadi
Tlf: +45 20 66 60 44
E-mail: ms@fomtechnologies.com
www.fomtechnologies.com

Certified Advisor:
Norden CEF ApS
John Norden
Tlf: +45 20 72 02 00
E-mail: jn@nordencef.dk
www.nordencef.dk

Communication:
Gullev & Co. ApS
Boris Gullev
Tlf: +45 31 39 79 99
E-mail: borisgullev@gmail.com
www.gullev.co

Contacts

• Michael Stadi, CEO, +45 20 66 60 44, ms@fomtechnologies.com

Attachments

• Download announcement as PDF.pdf