11 April 2007
IC Companys A/S - Grant of warrants
At its meeting held on 11 April 2007, the Board of Directors resolved to grant
10,000 warrants to one executive who have taken up a position since the last
grant of warrants in May 2006. The warrants will be granted under the
authorisation in article 6A of IC Companys' articles of association. The
warrants granted entitle the holders to subscribe up to 10,000 shares by up to
one third in the autumn of 2008, 2009 and 2010 respectively, following the
release of the annual report. The exercise price will be determined as set out
in the company's articles of association as the average market price during the
last five business days prior to the Board's decision, however, not less than
the market price “all trades” on 11 April 2007. The exercise price will be
increased by 5% per year as from 11 April 2007. Unexercised warrants in respect
of one year can be transferred to the subsequent year during the term of the
plan.
Following the grant, DKK 600,000 nominal value will remain of the Board's
authorisation to issue warrants.
The fair value of the warrant plan has been determined at DKK 0.5 million. The
fair value has been determined using the Black & Scholes model, assuming a
future volatility rate of 29% p.a., an expected payout ratio of 1.1% and a
risk-free interest rate of 4.1%.
The fair value of the plan will be recognised in the income statement over the
term of the plan.
IC Companys A/S
Henrik Theilbjørn
President & CEO
Henrik Theilbjørn,
President & CEO
Tel +45 3266 7646
Chris Bigler,
CFO
Tel +45 3266 7017
This announcement is a translation from the Danish language. In the event of any
discrepancy between the Danish and English versions, the Danish version shall
prevail.
