The Board of Directors has on it's meeting on August 23, 2007 awarded CFO Svend
Åge Lundgaard Jensen 50,000 warrants to subscribe for 50,000 new shares in
Thrane & Thrane A/S.
Svend Åge Lundgaard Jensen will receive the warrants over a period of five
years. The warrants awarded are exercisable as set out in the terms and
conditions in Appendix 3 to the company's Articles of Association. Svend Åge
Lundgaard Jensen will not earn warrants unless he is employed with the company.
Award overview can be seen in attached PDF.
The market value of the warrants programme is DKK 5.4 million. The market value
has been calculated on the basis of the Black-Scholes valuation model for
options. The volatility has been calculated at 28.5, using the last twelve
months' movements in the Thrane & Thrane share price. A risk-free interest rate
of 4.53 % has been applied.
For further information, see Appendix 3 to the company's Articles of
Association, available at www.thrane.com
For further information, please contact
John Alexandersen, VP Corporate Communications
Tel.: +45 39 55 88 00 or +45 22 72 38 22
E-mail: investor@thrane.com
About Thrane & Thrane
Thrane & Thrane is the world's leading manufacturer of equipment and systems
for global mobile communication based on sophisticated satellite and radio
technology. Since its incorporation in 1981, the company has established a
strong position within global mobile communication solutions based on the
Inmarsat system, and today Thrane & Thrane provides equipment for maritime,
land-based and aeronautical use. The company's communication products are sold
throughout the world under the brands Thrane & Thrane, EXPLORER® and SAILOR®
through distributors and partners and as OEM products. Thrane & Thrane employs
about 800 people and is listed on OMX the Nordic Stock Exchange in Copenhagen.
For further information about Thrane & Thrane, see www.trane.com.
