At a board meeting today the board of directors of Topsil Semiconductor
Materials A/S has decided to offer shares to the employees of the company in
compliance with section 3.4 of the Articles of Association. The shares will be
issued to all employees pursuant to section 7A of the Danish Tax Assessment Act
(“ligningsloven”), except for the managerial employees, who are already taking
part in a warrant scheme.
The main contents of the scheme is as follows:
The company offers 999,000 new shares corresponding to nominal DKK 249,750.
The subscription price is fixed at DKK 0.29 per share.
The subscription period is from 12 to 16 March, 2007.
The shares shall be held on trust for 5 years.
Participation in the scheme is on condition that the employee is not under
notice to quit at the time of assignment, and not employed for a limited period
of time.
The market value of the scheme has been calculated at DKK 1,548,450 at the time
of asignment. Due to the very short subscription period the value has been
calculated as the diffence between the market price at the time of assignment
and the subscription price multiplied by the number of shares.
Questions to the stock exchange announcements may be directed to:
Mr. Keld Lindegaard Andersen, Managing Director, tel. +45 47 36 56 10
Topsil Semiconductor Materials A/S
Jens Borelli-Kjær Keld Lindegaard Andersen
Chairman CEO
Please note that this translation is provided for convenience only. The Danish
version shall prevail in case of discrepancies.
