Under the share-based incentive programme Schouw & Co. has maintained since
2003, a decision has been made to issue and grant up to a total of 144,000
options on the following terms:
The members of the Management Board of Schouw & Co., President Jens Bjerg
Sørensen and Vice President Peter Kjær, will be granted 15,000 and 9,000
options, respectively.
Other senior executives, including managers of subsidiaries, comprising up to
15 persons, will be granted a total of up to 120,000 share options.
The options are exercisable during a four-week period following the publication
of the Schouw & Co. Group's full-year profit announcement for the 2008
financial year.
Each option entitles the holder to purchase one Schouw & Co. share of DKK 10
nominal value at a price of DKK 451.75, equivalent to the average official
closing price during the first five business days after the publication of the
Schouw & Co. Group's full-year profit announcement for the 2006 financial year,
plus a premium of 4% p.a.
The new options have an aggregate theoretical market value of DKK 7.9 million,
calculated on the basis of the Black & Scholes model using 12-month historical
volatility (26.05%) based on daily average prices, a risk-free interest rate
(4.00% p.a.) and the share price (417.70) at the time of issue.
